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>Bitcoin is "hard money", the hardest the world has ever seen This is true in more than one way. with a 350k daily transaction limit, the more people that try
by dylkil 6y ago
>Bitcoin is "hard money", the hardest the world has ever seen
This is true in more than one way. with a 350k daily transaction limit, the more people that try to use it as money, the harder it is to use as money.
- sparkie 6y agoThere's more to money than spending. Saving is a valid use case for money. Turns out that Bitcoin is a best fit too. The daily tx limit doesn't really concern this use case too much. The spending use case is much more impacted by it though. One might suspect that if there is enough demand for the spending use case, then some other solutions might develop to increase the transaction throughput for that use case.
- dylkil 6y ago>One might suspect that if there is enough demand for the spending use case, then some other solutions might develop to increase the transaction throughput for that use case. The only valid solution is to increase the block size limit, as stated in the conclusion of the lightning network whitepaper. A layer 2 is still constrained by layer 1.
- sparkie 6y agoMaybe the "spending" use-case doesn't need the hardness properties that Bitcoin has, but the "saving" use-case does. I don't like the idea of undermining the latter to promote the former, when it's not obvious the former is even in high enough demand, and when it can be done in alternative ways (L2 solutions, sidechains, custodians etc). Increasing the block size limit is not a solution to anything.