Quote from: gentlemand on February 24, 2017, 04:42:53 PM

Quote from: deisik on February 24, 2017, 04:15:00 PM

If the block size gets increased twice as much, the miners' profits obtained via transaction fees will most likely decline since there will be no more competition between senders for faster inclusion which leads to rising fees. So we shouldn't expect miners to accept SegWit or other measures to increase the block size any time soon

It's going to be really intriguing to see who blinks first. I'd guess that many of the current users are using it as a curio and luxury rather than having any pressing need. If the price keeps on rising then I suppose enough people will swallow it for now but I wouldn't underestimate the willingness of people to walk away.

Anyone using it for commerce from either direction must be not too far off shopping elsewhere, or they'll all go off chain such as the merchants now only accepting sales from Coinbase wallets

That's the point I'm continuously trying to make myself

We don't know how many transactions are made on a daily basis since only a certain part of them actually hits the blockchain. Using the same web wallet for instant transactions is an alternative to onchain transactions. In fact, I don't quite understand why major Bitcoin web wallets don't agree between themselves to process interwallet transactions directly bypassing the blockchain. As to me, that should be the right thing to do just like we can transfer funds between exchanges using the exchange codes. Miners are mostly rogue nowadays and not scalable overall. They got centralized beyond hope and should be disposed of