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/biz/ - Business & Finance

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4304056 No.4304056 [Reply] [Original]

Bitcoin is a store of value, the spiraling amount of unconfirmed transactions is a feature, its storing more value every minute!

>> No.4304648

>>4304056
>digital gold

>> No.4304662

Lack of transactions is a feature, if you could move your Bitcoin, you wouldn't be storing it :)

>> No.4304679

>>4304056
That's called an attack, bcashier.

>> No.4304697

Spam attack. You could to the same to 8mb blocks.

>> No.4304707

>>4304662
Sup Baba

>> No.4304776
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4304776

>>4304679
Core Tactic #1: Deny The Problem

Blame nefarious actors for BTC's limited transaction capacity. Transactions which push fees higher are necessarily "spam". Use this to divert attention from the inherent limitations of 1MB blocks which represent slow confirmation times and high fees at today's transactional demand. Blame anecdotes of high fees on user incompetence or wallet software, never 1MB blocks.

>> No.4304828

>>4304697
Far more costly. When blocks are always full, adding just a few transactions drives up the cost because other transactions will otherwise be excluded. Transactions are also backlogged significantly longer, making it much cheaper to carry out the attack.

When blocks aren't near their capacity you have to constantly add transactions, which are cleared out in the next block. This makes an attack on 8MB blocks far more costly than on 1MB.