I'll start by dedicating this thread to stompix (honestly, no hate, debate with him is enjoyable even though we sometimes disagree) who dared me to make this thread.
Well, congratulations, you took the
bait challenge!
Unlike in my topic which I timed to the situation, I did make a big mistake with this challenge, and I realized it too late, my bad
You asked this question when fees are high, so it's pretty obvious the army of pitchforks will not dare to come to stone you to death for proposing something only Roger Ver would do /s
Yup messed up this whole opportunity of having a bloody blockwar, that's on me!
As for me, I was just this week shown how it's physically impossible to have blocks larger than 4MB because only nodes that own a Titan computer and their own private global fiber optic cables would be able to cope with larger blocks!
Well well well... This is an age old arguement.
As I see Franky going on a rampage here, normal people do understand that there was a truckload of sarcasm in that comparison, right? Right?!!
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 to transact regularly, so want it uptodated(synced) and ready to use..
now imagine a pc costing $400 that can store all historic data and the next 10 years.. (4tb hard drive is not even $100)
so how much is that computer again, yep $400 as said for 10 years utility (with alot of space left over for normal computer tasks)
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..
And now I think I will have to make a trip to the emergency room since obviously by the end of the day I will have to butcher the mouse and chop the hand I've used to give franky merit for this..
It's not that simple, it's more complicated.
Propagation time would increase, orphan blocks would increase, centralization would increase.
ETH was pushing over 1 MB blocks every 30 seconds and if we look at the times it was POW the hashrate and the nodes were far more decentralized than BTC, so no, the whole thing holds no water. Dogecoin does so over 60 seconds, only for BTC would those pose problems, because...no reason!
If 1MB was small enough to achieve decentralization in 2009 I can hardly see why an increase of an order of magnitude would be hard now.