Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
To scale to visa/mastercard transactions per second, the blocks can never be big enough (if I remember correctly we need about 6Gig per block),
Never? Have you forgotten the mechanics of compound interest?
Internet bandwidth is growing by 24% CAGR. (http://www.cisco.com/c/en/us/solutions/collateral/service-provider/visual-networking-index-vni/vni-hyperconnectivity-wp.html)
There is a ratio of 6000 between 1MB and 6GB. This is less than 12 doublings.
If 1MB was small enough for 2010, then 6GB will be small enough in the year 2045 or so. Dominant payment mechanism in 30 years? I like the sound of that. You really think adoption will move that fast?
https://lightning.network/
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Scalability. Capable of millions to billions of transactions per second across the network. Capacity blows away legacy payment rails by many orders of magnitude.
And the point of blowing way past any conceivable takeup is ... ... ... what, exactly?
The security tradeoffs are not worth it to me. And as mentioned before, there's that entire lack of a working routing mechanism thing.
Oh - and you didn't answer my question, did you?
Lightning Network...this ones goes to a billion.
