/biz/ - Business & Finance

>>10657189
https://bitcoin.stackexchange.com/questions/59408/with-100-segwit-transactions-what-would-be-the-max-number-of-transaction-confi
Your math is inccorrect because the max number of segwit transactions possible is 12195 per block
TX-Per-Day = 12195 * 6 * 24
TX-Per-Day = 1756080
people / channels-per-day
7600000000 / 1756080
4327.8 days or 11.8 years

You know what, there's nothing wrong with a bitcoin bank if and only if they are cryptographically linked to the main chain through lightning or some other payment network. We actually do need a banking system for the retarded normies who don't want to take the responsibility to store their life savings. Plenty of normies would gladly pay a bank to keep their funds safe. Not everyone wants to take the time or effort to learn about wallets and private keys. You overestimate how retarded the general populous is.

If we had a bitcoin banking system that was enforced by cryptography, we would essentially have a system like the gold standard and the federal reserve node. The federal reserve note represented the an oz of gold because gold was too cumbersome to transact with. So similarly, if bitcoin gets too cumbersome to transact with, people will use payment networks, which is fine because these payment networks can still be set up to be p2p, and all the transactions are literally just regular bitcoin transactions, so you can broadcast them to the network anytime you feel. They are literally just as good as bitcoins, because the transactions you exchange on lightning are the same protocol as bitcoin transactions.

They cannot implement fractional reserve banking on lightning.
When you send transactions back and forth, each party must verify they are valid bitcoin transactions. That's the reason your node has to be on the whole time. Your making sure the cunt your transacting with isn't bullshitting you.

>>10653698
>btc
>wiped out
the absolute state of bcash niggers

>>10644176
You cashies are so delusional.
You remind me of a balding 50 year old car salesman, buying an expensive ferrari because he's going through a midlife crisis.
All you care about is transaction speeds and flashy features that are unnecessary, and furthermore harmful to the bitcoin ecosystem.
You do not understand that bitcoin is valued because of its security, not its transaction throughput or ability to create colored coins, or have turning complete smartcontracts. (Yes bitcoin has smartcointracts, they're just not turning complete by design)
Truth is, those features are unnecessary and if they are to be added to the network, they should be added to a sidechain, where they cannot corrupt the security and decentralization of the main chain.
It's sad that you cashies don't have the ability to plan long term, and you don't value the security of your network. You don't understand that block chains inherently only scale linearly by increasing the size, and the more you increase the size, the less decentralized it gets.
In your mind biggerblocks = moretransactions = better, which is exactly what a Keynesian would think.
A currency that acts as a store of value, i.e one that considers the longevity of its situation is superior.
I'm glad you now have your own network, so I can watch your chain crash and burn from a safe distance.
Truth is everything about bitcoin cash is based around marketing, and bitcoin is based around development.
You guys don't even like your lead developer of bitcoin-abc, Amaury Séchet, since he disagreed with your marketing team supervisor.
You guys are honestly pathetic, and your shitcoin will never be worth even a tenth of bitcoin ever again.