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davec88

898 Posts.

21/11/17

19:11

Post #: 28996454
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Originally posted by Warnie ↑

Transaction capacity is only scarce due to the limit placed within the code.
So yes there are those at the top, the developers, whom I know well as I've been in Bitcoin since the beginning, who don't care about transaction rates, or fees, as they see Bitcoin as an electronic cash system, not a settlement network, as stated in the white paper.

Their reasoning for not changing code or block size is usage space, but the miners can and could produce larger blocks, which they would, then there is no issue, it should be within market forces to judge IMO

At $10+ per transaction cost, it makes the thought of mass usage or replacement of fiat a non event.

The second layers, third layers they and you talk of, will be and are being done off chain, which a) means it is no longer bitcoin miners and b) it is no longer bitcoin at all, and anonymity can and will be lost.

Lastly, tell me, how will variable transaction fees ever scale?

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"and anonymity can and will be lost."

Bitcoin isn't anonymous at the base layer. Conducting payments direct and settling on the chain would be however.
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