Quote from: BlackHatCoiner on May 25, 2024, 06:09:26 PM

Quote from: LoyceV on May 25, 2024, 04:13:38 PM

You're saying there may not be enough demand to fill 10 MB blocks. I'm saying the lack of demand may be because it's currently impractical to use. As they say: "fix the money, fix the world"!

Let's look at the closest evidence we have to verify this claim: altcoins.

- Bitcoin Cash is the Bitcoin fork I'd use if I was forbidden from using Bitcoin. Total transactions in the last 24 hours: 14,546. Block size limit: 32 MB, block interval: 10 minutes.
- Total Litecoin transactions in the last 24 hours: 181,694. Block size limit: 1 MB, every 2.5 minutes. (in 10 minutes: 4 MB)
- Total Dogecoin transactions in the last 24 hours: 62,270. Block size limit: 1 MB, once a minute. (in 10 minutes: 10 MB)

Total Bitcoin transactions in the last 24 hours: 862,464. If high on-chain capacity is what the world wants, then we should expect them to have migrated, and do more on-chain transactions there. It's clearly not the case, though.

I see what you did there. Although I expect the total Bitcoin transactions excluding the ones spamming data to be less than the total Litecoin transactions. But more importantly: I don't want to have to move to altcoins, and I'm guessing I'm not the only one. I do have some small amounts for small transactions, but I'd prefer to use Bitcoin for that.

Quote from: NeuroticFish on May 25, 2024, 07:30:02 PM

Quote from: LoyceV on May 25, 2024, 04:13:38 PM

In the past year, how many payments have you made that are worth $50 in fees? I can't think of anything.

I didn't. I am as guilty as the most. The closest I can get is a consolidation I've waited for patiently for a couple of months and I've still ended up paying about 15$ in fees.

I didn't only mean Bitcoin transactions, I meant all financial transactions you make. I can pay by bank, without extra charge. I can pay by Paypal, they charge the receiving party several percent. I can pay by cash, no extra charge. Consolidating Bitcoins doesn't really count: that's the only thing where you have no alternative. For anything else, I have options.

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Look at El Salvador, they are happily using Bitcoin, not really caring it's in most cases actually in others' custody.
And I would not be surprised other kinds of Bitcoin IOUs will catch on.

That's why I don't mind using custodial LN.

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*sigh* we may be the lucky ones who got to own actual Bitcoins (or satoshis) like the ones owning gold coins 100 years ago.

Just like we may be the last generation who gets to hold actual paper money and metal coins. Chances are that's gone soon.