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But that was the original goal of Bitcoin — the paper states specifically transaxtions. I personally found it interesting when I bought shoes over Overstock via
by QML 9y ago
But that was the original goal of Bitcoin — the paper states specifically transaxtions. I personally found it interesting when I bought shoes over Overstock via BTC earlier this year; only problem was my phone didn’t have a default QR scanner.
- t0mbstone 9y agoThe original goal was to have transaction fees cover network processing costs, but anyone who does the math can quickly see that the number of transactions allowed by the current block size is an issue, and prevents bitcoin from scaling to visa/mastercard levels of usage. The reason why this flaw was accepted back then was because "space is cheap", and "we can always make the blocks bigger later". Basically, it was a known issue all along, and the plan all along was to evolve as needed. It was never intended to be a perfect solution from the get-go. The problem now, is that people are actively preventing bitcoin from evolving.
- bb88 9y ago> The problem now, is that people are actively preventing bitcoin from evolving. So an 'evolving' BTC market is not a stable market. Doing something that increases the transaction speed is good, but doing something that changes the fundamental rules is not. If your income is based upon artificial scarcity, then you're going to be invested in keeping it that way.