Quote from: Synchronice on November 16, 2023, 07:32:36 PM

Quote from: DaveF on November 16, 2023, 04:25:28 PM

Look at it as enforced savings. You don't want to move your BTC to buy something since it costs so much in TX fess so you don't spend it. More for you later :-)

In terms of investment, yes, you are right but in terms of bitcoin ecosystem, I think it's not a good idea to hold it. I respect the fundamentals of bitcoin, it's ability to help me do transactions without involving 3rd parties and it's ability to improve my privacy. So, since I respect this, I think I should use Bitcoin often. The more often we use it, the more popular it gets and more adopted it becomes.

Quote from: DaveF on November 16, 2023, 04:25:28 PM

But, seriously. This too shall pass. No idea when, but sooner or later the 'next big thing' in crypto will appear and BRC20 will stop being used and fees will drop and things will get back to normal. Next week? Next month? Next year? No idea, but it will happen.

-Dave

You are right, that's guaranteed to happen over time if we don't start WW3.

Quote from: philipma1957 on November 16, 2023, 06:05:53 PM

Basically it is like an advertisement for ltc and doge.

That's what I am saying constantly and I think it will be good if we increase the block size but I remember you said that was pointless but didn't have time to discuss how high block size won't lower fees but I'll be glad if you have time right now to explain that.

I think I was saying the issue is BTC is an oil freighter. Really good for security and large sends of high value.

but it sucks to use an entire oil freighter to move a quart of oil.

BTC sha-256 10 blocks an hour

DOGE/LTC scrypt 120 blocks an hour

this is the dynamic (in my opinion) that drives the issue.

BTC more gear and more more security 12 x 4mb blocks less space for tx
Doge/ltc less gear and power less security 120 x 4mb blocks more space for tx

So you have 1 mill in coin you say fuck it do btc I want security I will pay with btc

so you have 10 dollars in coin you should say fuck high cost security I will pay with LTC/Doge

this dynamic can not go away via bigger blocks

btc goes to 8mb vs 4mb we double the storage.

ltc and doge laughs does nothing and now has 6x the storage still 6x better for small sends.

btc needs to go to 64mb and that is only 8x the storage it has now

ltc/doge does nothing because they still have 1.5 the tx room at no programming or any other thing.

So expanding the block size to 128mb would get you at more storage for tx then ltc /doge

or simply push use a smaller delivery system for small value.