Post
Topic
Board Bitcoin Discussion
Re: Angry at the high fees? That's what everyone predicted the future will be like!
by
stompix
on 16/11/2023, 14:00:17 UTC
The point is that 1T/H processes the same number of transactions and blocks as 600E/H. So this idea that this has to be always increasing doesn't make sense. In the next halving or two halvings from now, this mentality has to start changing, otherwise we will start to have absurd fees that will discourage new users from entering the network. Most people aren't going to have dozens of BTC to compensate for paying extremely high fees.

It does, but a network protected by 1 TH/s can be attacked by a guy spending $100 bucks on a S9 and just unplugging his AC for an hour and he has enough to reorganize 20 blocks, the other takes about ...2 million $10k machines to do, and about 10 nuclear reactors (depending on size)

One is Bitcoin, the other is Bitcoin gold, which got successfully attacked via a 51% three times.
Which one do you prefer!

Whoever told you 4MB required a Titan Computer and fiber optic cables were required , is spreading misinformation.  Smiley

~
quoting for posterity..

Of course, I'm a bit exaggerating this but, here it is
https://www.youtube.com/watch?v=EHIuuKCm53o
So, we shouldn't increase the blocksize unless we manage to get quantum computers in our smartphones basically..