Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
Peter R
on 25/12/2017, 01:30:42 UTC
That’s right.

Just introduce 10GB blocks and call it a night. Problem solved.

Let's just hope people who can actually run a node don't get the bright idea to charge subscription fees to let your SPV wallet connect to them.

This is inevitable.  It cost time and money to run a node which serves headers and Merke-branch proofs to SPV clients.  Eventually, businesses will charge for this service, perhaps using payment channels.  I'd suspect the cost would be well under $1 per month, as it would be a high-competition / low-margin type business.

An income stream for non-mining nodes would be a positive development, as it means we're not relying on altruism.  Do you disagree?

You're kinda admitting bitcoin is a system built on multiple levels of usury when that's *SUPPOSEDLY* something it defeats.  If I "own" a bitcoin, I don't really own it, I'm required to pay a ransom/usury fee to a miner if I want to do anything with it (unlike physical silver or gold).  Now you're talking about adding even MORE additional usury levels on top of that.  Why would anyone use some *permissioned*, multiple levels of usury system like this when they can use a usury-free, permissionless system like physical silver and gold?


BTC as "digital gold" for "holding" is pretty pointless in my opinion, and I suspect it will collapse if it cannot fix the extremely high fees.