Quote from: Synchronice on May 06, 2023, 05:39:18 PM

Quote from: Little Mouse on May 06, 2023, 03:32:21 PM

Quote from: Synchronice on May 06, 2023, 10:43:30 AM

And why isn't there unity to fork bitcoin and increase the block size? There was a Bitcoin Cash fork from Bitmain, that owns Antpool and BTC.com, with aim to increase block size and get rid of stuck transactions, however, people here hate BCH and don't support it, what's the reason?

BCH has 8MB blocksize while BTC has 1MB. If you increase blocksize, considering all the blocks will be filled, it will cost more to run a node which will create less interest in running a full node. The more nodes you have, the more decentralized network it is. Since a node has no monetary gain, people wouldn't voluntarily spend a lot of money to run a node.

If people spend tens of dollars in every transaction fees, will they really hesitate to buy a cheap brand new 4TB HDD for $40?
Also, do we live in 2010 or 2016? Technology is advancing, things are getting affordable, so I don't see the problem in increased storage. By the way, you can use HDD instead of SSD and your costs will dramatically decrease. To be honest, people who run bitcoin node, do so because they support bitcoin and want something truly decentralized, $50 can't push them to change their mind. And even if new person wants to run node, most likely storage won't be an issue, there are a lot of people who have terabytes of storage on personal computers.

Quote from: Little Mouse on May 06, 2023, 03:32:21 PM

Apart from that, it will lower the profit for miners too if I understand correctly. If the profit becomes lower for the miner, the number of miners will be decreased, and again, as philipma1957 said, will be easier to manipulate the fee. Maybe with fewer miners than right now we have, you may see no more 1sat/byte tx because it will be easier to manipulate the fee.

Halving lowers the profit for miners but that doesn't mean that halving is unnecessary. When profit becomes lower but the support remains the same or increases, price increases too. You completely ignore the fact that high transaction fee is something that pushes a lot of people to use altcoins for transactions. This affects the bitcoin and its adoption very negatively.

It is had to explain that halfing will become destructive to btc.

but here goes.

reward ——-fee————-price
50btc. ——-0.05————0 to maybe 12 bucks
25btc ———0.1—————80 to 1300
12.5 ———- 0.1 to 2 ———400 to 19000
6.25 ————0.1 to 2 ——— 3000 to 69000

look at reward to fee ratios

maybe 1000 to 1 when price was 0 to 12 bucks
maybe 250 to 1 when price was 80 to 1300 bucks
maybe 125 to to some times 6 to 1 when price was 400 to 19000
maybe 62 to some times 3 to 1 when price was 3000 to 69000

the ½ ing is causing a clear reward to fee ratio issue this issue is yet to be solved.

project
2024 maybe 3 to 2 ratio reward to fees when fees go high
2028 maybe 1.5 to 2 ratio reward to fees
2032. maybe .75 to 2 ratio reward to fees

with more and more incentive for large pools to clog the blocks.

remember they mine the blocks and they keep the fees.

so if they flood the blocks with crap 💩 they are not paying full price.

they grab the fees. that they paid to jack the fees and they grab everyone elses fees that have to pay to move coin.