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As transactions grow in BCH, wouldn't it need larger and larger blocks? I think larger and larger blocks would centralize the nodes. Edit: Also, I don't think

by jerry1979 6y ago

As transactions grow in BCH, wouldn't it need larger and larger blocks? I think larger and larger blocks would centralize the nodes. Edit: Also, I don't think the Lightning Network behaves likes the credit card networks. What do you mean when you say that?

suikadayo 6y ago
It would need larger blocks, but it was the general understanding within the community before the fork that with Moore's Law, hard disk capacity would increase and price would go down in the future, so it really isn't a big deal, and not enough to cause "centralization of nodes" like some people argue. Also, my understanding is that Lightning Network is semi-custodial, so it's probably more similar to banks than credit cards. I'm unsure why modern bitcoiners are adamant about "not your keys, not your coins", but are ok with semi-custodial solutions.
- dieortin 6y ago
  What do you mean by “semi-custodial”? You’re not giving anyone the keys to your address. It’s nothing like a bank.
  - __blockcipher__ 6y ago
    Yeah, not sure where they got that. The problem with the LN is that it's like a gift card (I said credit cards before but gift cards is a better analogy). I need to send $X on-chain to establish my "store credit" so that we can transact off-chain for future transactions, before eventually resolving on-chain at some point in the future. Imagine network address translation but stupider by orders of magnitude :P
__blockcipher__ 6y ago
Please specify what you mean by "the nodes". As I've discussed in other comments, the whole "full node" concept is basically made up and absurd; the security and therefore decentralization of the network is provided by miners. The network is only truly "centralized" if a faction gains a sufficiently large portion of the hashpower to perform a 51% attack.
- jerry1979 6y ago
  I went through and read your comments on full nodes, and I don't believe you have addressed the issue of UASFs nor have you addressed topics like privacy, trustlessness, and self determination. Most anyone who can afford to do hobby computing can run a full node. You miss the point of crypto networks unless you realize that the people are the network.

suikadayo 6y ago

It would need larger blocks, but it was the general understanding within the community before the fork that with Moore's Law, hard disk capacity would increase and price would go down in the future, so it really isn't a big deal, and not enough to cause "centralization of nodes" like some people argue. Also, my understanding is that Lightning Network is semi-custodial, so it's probably more similar to banks than credit cards. I'm unsure why modern bitcoiners are adamant about "not your keys, not your coins", but are ok with semi-custodial solutions.

dieortin 6y ago
What do you mean by “semi-custodial”? You’re not giving anyone the keys to your address. It’s nothing like a bank.
- __blockcipher__ 6y ago
  Yeah, not sure where they got that. The problem with the LN is that it's like a gift card (I said credit cards before but gift cards is a better analogy). I need to send $X on-chain to establish my "store credit" so that we can transact off-chain for future transactions, before eventually resolving on-chain at some point in the future. Imagine network address translation but stupider by orders of magnitude :P

__blockcipher__ 6y ago

Please specify what you mean by "the nodes". As I've discussed in other comments, the whole "full node" concept is basically made up and absurd; the security and therefore decentralization of the network is provided by miners. The network is only truly "centralized" if a faction gains a sufficiently large portion of the hashpower to perform a 51% attack.

jerry1979 6y ago
I went through and read your comments on full nodes, and I don't believe you have addressed the issue of UASFs nor have you addressed topics like privacy, trustlessness, and self determination. Most anyone who can afford to do hobby computing can run a full node. You miss the point of crypto networks unless you realize that the people are the network.