solution to onchain scaling
1. reduce the sigops limit per tx.. no one should get to have 20% control of a block for thier tx
benefit. more tx per block if a greedy tx'er tries and less time needed to validate each tx (its what would have solved the linier validation problem that legacy transactions had that certain paid devs used as an excuse to push segwit through)
(p.s some of the new/reintroduced OPCodes actually make 'malleability problem' possible again.. (facepalm))
2. let the 4mb WEIGHT be 4mb LEGACY space. that way you can take out all the jumbled code of x4 and just get back to normal WEIGHT=MB used and not the 'virtual' space used. 4mb should be 4mb 1 mb should be 1mb its the whole point of the limits
3. if space is the problem then stop adding in new features that increase the average bytes per TX. EG confidential payments will add more bytes to a TX.
if you really love privacy so much then go use LN and be private and leave bitcoins mainnet to be lean and also FULLY AUDITABLE where by people can see funds from block reward to current owner. to prove value is real.. hiding it will make people trust the currency less (oops did i just counter the other plans devs have to ruin bitcoin by screaming it cant scale it aint a payment network and soon it aint auditable(the plans of killing a currency are by taking away its utility))
4. go back to basics
bring back a fee mechanism thats not like the old one where the amount held by UTXO negates the bytes used to get the fee low. yea the old fee formulae made it cheap for rich UTXO and expensive for small holders (facepalm)
but instead a (simplified for conversational purpose)
bytes used * (144/confirms of UTXO)
meaning if the coins only have 1confirm it will cost them 144x more then normal.. thus spammers (over the ordinary use) pay more after all if they want to transact more than once a day. lock funds into LN and go play
I don't think this will scale to millions of tx / second. Please correct me if I am wrong. LN still needs locked multi-sig onchain transfers. If 2 million people were to use bitcoin in an ideal best case scenario, we are talking about 1 M locked transfers. Plus only 4200 locked transfers (deposits) per 10 minutes. Don't get me wrong, LN may perfectly work. But I am just not sure how often will people need to replenish the bonds (multi-sig) transactions and if a single chain can only provide so much space for such capacity.
Besides,
1) it also has to come down to a lot of availability (in terms of funds) given the number of HOPS it might take to reach your payment destination.
2) If a new account (public key) were to receive a transfer on the system, there's no chance you can do it via LN because you simply have to create a new state for the account. So, in a worst case scenario if there are a lot of new accounts that are on-boarded. It would simply be able to onboard only 4200 transactions per 10 minutes and hence take 5 years to onboard 1 billion users (Not to mention the huge disk space that the chain now takes up).
3) I personally believe that deflation is more of a rich get richer scheme. Money, in my opinion, was created for the sole purpose of getting people motivated to contribute to society by employing their skills, not simply making more with it (without any risk). Deflation simply means that people will end up hoarding more and it's never going to be adopted mainstream in that scenario because the mindset of the users would be to hoard it. I understand this is a sensitive point and hence I have simply stated that it's my opinion.