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Armstrong was right about Bitcoin's 1 MB limit leading to massive fee increases and retail unusability, and he was right about Ethereum becoming massively adopt
by CryptoPunk 9y ago
Armstrong was right about Bitcoin's 1 MB limit leading to massive fee increases and retail unusability, and he was right about Ethereum becoming massively adopted.
Your characterization of Armstrong's position as being pro-centralization is typical of the total disconnect between the 1-MB-Bitcoin crowd and reality.
According to your logic, Satoshi Nakamoto was pro centralization when he described a future with GB blocks and thousands of transactions on-chain per second.
- swalsh 9y agoFor people who want to understand more about the context of this, this is a great read: https://www.reddit.com/r/BitcoinMarkets/comments/6rxw7k/informative_btc_vs_bch_articles/dl8v4lp/ https://www.reddit.com/r/BitcoinMarkets/comments/6rxw7k/info...
- xorcist 9y agoOne would think that his company would be first in line to implement the new 2 MB limit then. But no, they're last, and they still don't batch their transactions or implement a proper fee estimator. Their customers still overpay for transactions, often by several hundred percent. The reality is that they don't care much about fees, they just pass them on to their customers.