Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: [POLL] Is bigger block capacity still a taboo?
by
franky1
on 16/11/2023, 23:04:44 UTC
⭐ Merited by stompix (1)
The biggest hurdle remains that those running non-mining nodes carry the burden of helping to secure the chain while receiving no economic reward.  They gain benefits like privacy and not relying upon trusting others.  But, financially, there's no recompense for the service they provide.  As such, they will only offer to carry a greater burden at a time of their choosing and not merely when others complain about it.

Make all the arguments about decentralisation, propagation and politics you want, but all those points largely fall by the wayside the moment you start asking others to do more than they're already doing, just so it might benefit you and give you lower tx fees.

When the majority of nodes are willing, that's when it'll happen.  

you love fee's being $4-$20
you dont want fee's being $0.10-$0.50

but have you done the math
people that run a node 24-7 also are people that use bitcoin regular so want it uptodate and ready to use..
now imagine a pc costing $400 that can store all historic data and the next 10 years..
so how much is that computer again, yep $400 as said for 10 years utility

now lets imagine tx's fees cost for 10 years of 1 tx a day
$0.10 = $365, ok reasonable it costs less to use bitcoin than it does to secure it
$0.50 = $1,825 hmm. well thats $185 a year. but still more then the PC price so more to use than to secure
$4.00 = $14600 hmm. well thats $1,480 a year. now thats alot to use it especially compared to securing it
$20.00= $73,000 .ugh.. do i even need to say it. $7.3k a year just to use it but only $40 a year to secure it

now if you want to cry that node users need to cover their $40 a year node costs.. how come you are happy to see tx fee's costing $7.3k for daily use..
.. oh wait you dont want people to use bitcoin daily..
.. but now the question becomes if people are only doing sessions 2 times a year to have $40 fee cost.. they are not going to run a node all year . they will just run it for a week per year to sync, transact shut down

making bitcoin harder to TRANSACT daily will be the reason normal users dont use full nodes.. it wont be due to hardware costs
all that will be left is commercial services running nodes and offering utxo data to lite wallets. and you love that idea. you love middle men services charging fee's and giving commissions