Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
jbreher
on 12/08/2017, 01:01:40 UTC
https://bitcointalk.org/index.php?topic=2080206.msg20798805#msg20798805
Maxwell has a go at the 'new' 'satoshi' 'email' 'leaker'
Shameful. Shameful if they're legit, shameful if they're edited.

Here was my response to "CipherionX"'s attempts at getting leaks.

I'm quite sure I have read at least some of these before. As such, they really aren't new. Not all of them anyway.

I'm guessing Gregory is just pissed and trying to stifle the revelation that Satoshi directly contradicts several of Blockstream/Core's fundamental sacred cow axioms from his very first reply to Mike.

The existing Visa credit card network processes about 15 million Internet purchases per day worldwide.  Bitcoin can already scale much larger than that with existing hardware for a fraction of the cost.  It never really hits a scale ceiling.

By Moore's Law, we can expect hardware speed to be 10 times faster in 5 years and 100 times faster in 10.  Even if Bitcoin grows at crazy adoption rates, I think computer speeds will stay ahead of the number of transactions.

The fee the market would settle on should be minimal.  If a node requires a higher fee, that node would be passing up all transactions with lower fees.  It could do more volume and probably make more money by processing as many paying transactions as it can.

The transition is not controlled by some human in charge of the system though, just individuals reacting on their own to market forces.

Eventually, most nodes may be run by specialists with multiple GPU cards.