Said Anti-Cen with unspecified units, presumably some fiat currency with no possibility of Byzantine agreement on an exchange rate:
public static money MaxFee=1.50 // Less miners because not enough cream to go around
That is one of the stupidest ideas I have ever seen in my whole life; and it has
plenty of competition between the four corners of this world.
You have no idea how Bitcoin works. Or how reality works.
The security level of Bitcoins Byzantine agreement on transaction ordering grows proportionally to its value, as mining increases in revenue, and thus becomes more competitive. But its not even necessary to look that far. Capping the sole criterion which miners use to choose between transactions of equal size, and users use to determine which transactions are important to them, is tantamount to trying to fulfill my desire for a Porsche with one simple line of code:
public static money MaxPorschePrice=1.50
// Less Porsches because not enough cream to go around That should work, right?
Look at the numbers cellard posted! Do you have a home PC with 32GB spare RAM to dedicate to a Bitcoin node? Can your home connection pass 99.2GB of daily traffic? Thats all with full 8MB blocks; and according to Bitfury, all that hardware buys you a whopping 28tps. Its still 2 orders of magnitude under the throughput of Paypal, and 34 orders of magnitude under that of Visa.
To compete on a practical basis with Visa cannot mean that every node has the entire transactional volume passing through it.
To compete with 1/100 the volume of Visa cannot mean that every node has the entire transactional volume passing through it.
Block sizes are not relevant to this issue.
I know. Really, thats my point. Per the ridiculous thread title, Lightning Network will compete with Visa. It is not comparable to
Bitcoin Cash, S2X, or genital herpes.
The amount of WRONG, it hurts....