Final bottom reached.
Nobody Mindrusted.
Let's go!
Gosh.. That almost sounds like a bet.
Bottom?
Are you talking about the bottom for today? $81,200? 0r some other bottom?
What are the odds that the bottom is really in? 50/50? You seem to think the odds are better than 50/50.
Isn't the purpose "use bitcoin" rather than drooling about making 100 billion dollars 50 years later?
Not since blocks started filling up.
I doubt that block space is the ONLY (or even a significant) reason that people are reluctant to spend their coins. There may be some hesitancy in regards to accounting, and yeah, if there were some
de minimus amount (perhaps around $1k per transaction and $20k per month) that could be exempted from accounting/taxes, then that could be a step in the right direction.. but yeah, I am not sure if it would incentivize more merchants to start accepting bitcoin/.. Merchant's surely get worried about accounting matters, even though peer to peer we might not care about accounting matters, to the extent that we are able to peer to peer transact without being monitored and/or controlled... so many folks hold their bitcoin directly through third -party exchanges, too... but then what levels of direct transacting might we do with each other? Go out to eat with friends, and then one person pays with a credit card, and then the other directly pays him in bitcoin? Sell some kind of product directly to another person.. .. or even selling a good/service under the table rather than through formal accountings, getting back to merchant interactions, no?
Transaction fees and the potential of delayed transactions add significant friction. I'm not going to litigate the whole block size debate here again
but there's no arguing that it has had the effect of reducing the direct use of bitcoin. This was even acknowledged and stated as desirable by those on the side of small blocks and the whole lightning network was premised on restoring some of that liquidity (a flawed application of a reasonable technology IMO).
Even though you don't want to litigate the whole block size war, you still want to argue that the blocksize needs to increase in order to facilitate bitcoin transactions...and I see no real reason to add to what I already said.. it is not like I have anything more to say except maybe to just repeat that the problem and/or the solution is not as non-controversial as you are making it seem to be, with your ongoing insistence on wanting to change bitcoin in the direction of BIGGER blocks and your continuing to believe that bitcoin transactions would be improved from that kind of a change...
Maybe another thing that I should mention, for shits and giggles, is that in recent times, we have been seeing quite a bit of empty blocks and really low transaction fees, so transacting on bitcoin has been quite a bargain for several months, maybe even 9 months or so back to mid-2024. We can look at recent blocks,
https://mempool.space/and we can look at the extent to which the mempool had transactions backed up.
https://jochen-hoenicke.de/queue/#BTC,1y,weightI doubt that this data justifies that the block sizes are too small, even if you might want to argue some nonsense about transactions moving to other locations because of the unreliability of bitcoin's blockchain to have low fees, but fees have been pretty damned low.. and even in this calendar year the mempool cleared a lot and we have been having a lot of blocks with single digit sats per vbyte that translates into very low fees of under $1 to send small transactions or even very large amounts of value for the same onchain transaction costs. That is quite amazing when you think about the value of bitcoin being able to be transacted by anyone and to anyone around the world without being able to be stopped for such low onchain fees. All you need is a wallet to be able to receive.. Surely getting bitcoin might be another story that may well involve having to go through third parties, unless any of us can find someone who already holds bitcoin to be able to receive bitcoin from the person who already has some of it.