Quote from: vinodjax on September 14, 2018, 05:44:31 PM

I don't think this will scale to millions of tx / second.

we do not need millions a second..
think about it 1mill a second
= 60m a minute
= 3.6b an hour
= 86billion a day.
thats ludicrous

first of all visa stats and mastercard show that people on average do 45 transactions a month. which is 1.5 a day
obviously bitcoin is not as acceptable as visa/mastercard. so for now we should be working on less than visa and scale up as we go.

so with that said. we dont need a 86BILLION tx a day network we dont even need a 8.6 billion tx a day network. because not everyone is going to use bitcoin everyday right now.

so forget 1m tx a second. forget 100k tx a second.

the stupid fools that think what the community are begging for are move from <7 to >million overnight and shout out "gigabytes by midnight" , are the small minded people that never actually think rationally or logically.
i really find it funny that the onchain scalers are not screaming for millions per second. but instead steady progress over time.. and its actually the offchain people who dont understand, dont trust or have been paid to give up on blockchains that are screaming for millions per second and gigabytes by midnight as the only options.

the true comunity are begging for progressive onchain rises over logical time. not huge leaps of onchain jumps or lse needing to abandon blockchain utility for some locked fed reserve network of swapping account of promissory notes

what we need to do is not let bitcoin get stifled so much that it ends up as a 0 tx a second and then just 5 mega factory TX's every 10 minutes where the LN factories swap their reserves with other factories onchain.. (bank reserve swaps) yea the devs want bitcoin to be the backend of the LN network. where reserves are swapped.. yep thats right they want bitcoin as a bankers reserve currency and where LN is the bankers payment system for their clients(channel users)

anyway we need to preserve onchain utility for normal people. that involves going back to basics. and then expand as we go too

so lets start by making tx's lean. to gt to a possible 4200tx per mb. then with 4mb being allowed by the devs. lets open the legacy limit so the full4mb can be used by such 16,800tx for 4mb.
16,800 =2million a day
(oh look the 2million users a day in YOUR 2million ideal scenario)

so using actual stats from visa of spending per day. 2million users would only need 4mb blocks of normal lean tx's where legacy transactions can utilise the full 4mb

also to note in LN 2 million users with LN is actually an average of each user needing 5 channels so thats 10million tx's to open and 10million to close.
which means people have to preplan and organise funds for about a 10 day lockin.

...

and before you rebut that blockchains cant scale.. that was like the deluded script of kodak saying digital photography cant scale because of floppy disk data limits. (look how that turned out)
if you want to doubt the limits of data and the internet. please go tell skyp that HD video calls dont work or go complain to EAgames that online gaming cant work. or speak to youtube, twitch, and other livestream sits cant work

or do the rational thing, and realise technology expands all the time and things progress as time goes on.
but whatever you do dont even try to say blockchains are broke and the only way forward is locking funds into channels(accounts) that need someone else to sign for a payment and needs every middleman and the destination to be online to accept payment.. as that is the same AND worse system than what bankers already offer