Post
Topic
Board Bitcoin Discussion
Re: Gavin Andresen Proposes Bitcoin Hard Fork to Address Network Scalability
by
The00Dustin
on 25/10/2014, 11:32:10 UTC
A handful of large organizations probably could run Bitcoin at these rates but realistically that's about it, and at that point they may as well do away with the blockchain itself and make it a real-time system like VISA.  That's why clued in folks like the blockstrream guys are looking around for a solution which will let Bitcoin scale to these levels without abandoning the very desirable aspects of the solution that it has today.
Pretty sure satoshi talked about light clients for the masses.  Also pretty sure VISA keeps a ledger.  Are you suggesting that "clued in guys" have insider knowledge that storage technology isn't going to continue to grow and get cheaper?  Do you also think "clued in guys" are writing solutions that pay people to mine things other than bitcoin are doing so completely philanthropically and not out to make a buck?  Is there any real evidence that sidechains aren't just going to be the new altcoin?

ETA: Considering the cost of ASIC mining equipment, storage technology would actually have to start shrinking and increasing in cost to the point that individuals couldn't afford computers before it would begin to matter to miners.