Anyone else concerned about btc low fees

[Anonymous No.7055501]

I think its time we reduced the blocksize, fees are getting too low which may affect the store of value properties of bitcoin

[Anonymous No.7055590]

I agree. 1 kilobyte blocks soon please?

[Anonymous No.7055652]

>>7055590
Additionally we will be able to run nodes on discarded computers. Preventing landfill. I plan on getting out the old pentiums and securing the decentralised nature of btc

[Anonymous No.7055685]

yeah, it costs less than $1 if you don't mind waiting 4 days. we really need 0.1 mb blocks to force lightning adoption.

[Anonymous No.7055791]

>>7055652

Smart idea. We need more nodes. Every user needs to run at least 10 nodes. More nodes = better. God, I can't believe how restrictive this large blocksize is

[Anonymous No.7055844]

>>7055791
The amount of spam jihan puts into it is ridiculous. I currently run 25 rasberry pi nodes, doing my part to stop roger ver centralising my bitcoins

[Anonymous No.7055858]

Lots of genius going on around here, while we're thinking outside the box I wanted to touch base with you epic sirs on an amazing idea I had also; why not just reduce the block size to zero and just have lightning node transact between themselves? That way all transactions will be subject to the amazing scalability advantages of the lightning network,

[Anonymous No.7055872]

>>7055501

I agree, $1 is far too much in fees to move $400mn.

https://blockchain.info/tx/92785a57f6e9e9eb9d37a00e6e8be7f888376f65fa2b8f868db261cbf6cca7b0

[Anonymous No.7055882]

>>7055858
This. The kyc requirements for nodes will finally stop the criminals giving bitcoin a bad name

[Anonymous No.7055916]

>>7055882
Also it would mean they would no longer be subject to the open and close channel on chain transaction fees that go to evil chinese miners that use it to farm babies and steal their adrenochrome and pineal glands.

[Anonymous No.7055950]

>>7055858

This is honestly a brilliant idea. The blockchain just allows centralization through mining. Get rid of the idea altogether and just let the hubs do everything!

[Anonymous No.7055996]

>>7055916
Theres nothing i hate more than a chinese person acting in his own economic interest

[Anonymous No.7056041]

>>7055950
Right, and then the hubs will go through a pure free market process of competition as to who can offer the best experience and lowest fees at which point a few best of breed will triumph and everyone will benefit from the enormous decentralisation advantages of those few winning hubs.

[Anonymous No.7056064]

>>7055950
Right, we have thousands of years of human economic experience that proves that the hub and spoke model of transaction processing and intermediation works spectacularly well, it has resulted in the present economic system, which is the result of thousands of years of experience. Let's not throw the baby out with the bathwater, right?

[Anonymous No.7056087]

>>7056041

Damn, roger verr is really trying to centralize bitcoin and control via this whole "blockchain" idea. It's a lot like communism if you think about it. IIRC Satoshi said the blockchain was just a temporary thing until lightning came out. Increasing the blocksize is like increasing the size of your training wheels. pointless

[Anonymous No.7056092]

>>7055996
I know, chinks simply cannot understand the greater economic good served by their acting as the world's cheap shitty global factory. Someone needs to learn to share.

[Anonymous No.7056115]

>>7055501
We also have to make sure that the evil small-time miners who take small payouts from their mining pools pay as much in fees as possible. Choke them out of the network. This is a game for big boys and if you haven't already made it you don't deserve a chance. Those small scale miners waste electricity and its actually more efficient to ensure that all mining is done by the big players. Why have thousands of miners when you only need 1? We need to save electricity. Raise the fees.

[Anonymous No.7056130]

>>7056087
The thing that really makes my beardjowls quiver is the recklessness of it. For years now we've been proceeding with one model and he is irresponsibly and dangerously advocating for the adoption of a completely new one, I fear he will succeed because not all gentlesirs are as gifted with vision as I am, and they may be subject to his kindergarten tier reasoning and namecalling attacks and trendy lit bird flipping and such.

[Anonymous No.7056155]

>>7055858
I like the cut of your jib sirs.

[Anonymous No.7056169]

>>7056064
Imagine if we had a very large node which could determine the behaviour of other nodes. This node could use bitcoin to make sure the economy runs smoothly. Call the national node or federal node

[Anonymous No.7056212]

>>7056087
>Damn, roger verr is really trying to centralize bitcoin and control via this whole "blockchain" idea.
The blockchain was actually what Bitcoin was meant to destroy. I just wish the Cash people could understand.

[Anonymous No.7056214]

>>7056169
Yeah that will make the plebs view it as totally legit. We better make sure it's not actually federal though because we are le anarchist revolutionaries, right? Rothschild hands out grants for that sort of thing yeah? I'm sure we could get them on board. We'd have this enormous node financed by Rothschild and controlled by euphoric enlightened gentlemen like us, and the world would experience a thousand years of economic progress for sure.

[Anonymous No.7056260]

>>7055501
I'd just like to interject for a moment. What you’re referring to as Bitcoin, is in fact, the Bitcoin Core fork, or as I’ve recently taken to calling it, Bitcoin Limited. Bitcoin Limited is not a functioning cryptocurrency unto itself, but rather one component of a fully functioning peer-to-peer electronic cash system made useful by the Bitcoin blockchain, hashing algorithm and distributed network comprising a full peer-to-peer electronic cash sytem as defined by Satoshi Nakamoto.
Many users run a modified version of Bitcoin Unlimited every day, without realizing it. Through a peculiar turn of events, Bitcoin Limited which is widely used today is often called Bitcoin, and many of its users are not aware that it is actually a fork of Bitcoin Unlimited, developed by Satoshi Nakamoto. There really is a Bitcoin, and people are using it, but some have begun referring to Bitcoin as Bitcoin Cash.
Bitcoin Limited is a node implementation: a client that verifies and relays transactions across the network. a node is an essential part of a peer-to-peer electronic cash system, but useless by itself; it can only function in the context of a distributed network. Bitcoin Limited is used in combination with the Bitcoin Blockchain: the whole system is basically Bitcoin Unlimited with a smaller block size. All the so-called “Bitcoin” implementations are really forks of Bitcoin Unlimited.

[Anonymous No.7056288]

>>7056260
BCASHBCASHBCASHBCASHBCASHBCASHBCASHBCASHBCASHBCASHBCASHBCASHBCASHBCASHBCASHBCASHBCASHBCASHBCASHBCASHBCASHBCASHBCASHBCASHBCASHBCASHBCASHBCASH

[Anonymous No.7056348]

>>7056260
Look buddy, my uncle works for satoshi nakamoto and he got straight from the horses mouth that the blockchain was just the foundation for the lightning network. Lightning is electricity, ie its faster than blocks. Even nicola tesla knew that

[Anonymous No.7056350]

>>7056212

It's sad. We almost achieved economic perfection via the lightning network. But Bcash Peddler Roger Verr wants to ruin it all with this blockchain nonsense.

[Anonymous No.7056400]

>>7056348
The horse's name -- Albert Einstein.

[Anonymous No.7056425]

>>7056260
Fucking kek, I wonder if very will ever admit to being completely wrong. He gonna lose so much $ when bcash form dies off in 3 months. Well he shilled hard, I'll give him that

[Anonymous No.7056505]

>>7056260

[Anonymous No.7056519]

>>7056425
He's actually completely right.
too right

we have shit adoption today
adoption is hurting from high fees
bcash fixes that with larger block sizes

who cares about LN when barely anyone is using bitcoin today?
LN is putting the cart before the horse.
Even if it's good in the long-run, in the short-run it doesn't matter.

[Anonymous No.7056530]

ITT: Delusional bcash shills who thinks huge mining farms and no one running a full node is a good idea.

" I'm Roger ver a self made millionaire" goddamn genius,

MUUH ECONOMICS CODE GUISE
MISSES REGRESSION THEOROM SAYS THAT BITCOIN MUST BE USED AS TRANSACTION FIRST
SEGWIT2X GREAT IDEA
CRAIG WRIGHT IS SATOSHI
READ THE FIRST SENTENCE OF THE WHITE PAPER!

Bcashers literally on suicide watch, their fork is dying

[Anonymous No.7056554]

>>7056519
>we want to stream video on the internet today.
>just plug 47 phone lines into my house to give me the bandwidth. Its the easiest fastest option that works today.

[Anonymous No.7056583]

>>7056554
exactly.

you plug the 47 lines in today
it works and people like the speed
you consolidate the lines tomorrow because you now know that you have customers

that's how business works.

[Anonymous No.7056605]

>>7056530
Seriously this. A fellow follower of the church of core, you must run many a rasberry pi node. We will overcome those delusional bcashers

[Anonymous No.7056613]

>>7056519
>He's actually completely right.
"It's safe to keep your BTC on mt gox" -ver

Bcash doesn't fix shit lmao, it is a centralized scam coin, most of the nodes are on AWS and Alibaba servers. LN is the only way to scale to visa, cryptocurrency is a mutli generational industry, no one is supposed to use LN right now with lots of money, no shit it will have bugs it just got released on mainnet

[Anonymous No.7056624]

>>7055882
Enjoy going to 0

[Anonymous No.7056652]

>>7056605
Lmao +1 bch has been deposit by your Twitter bch bot!! BCH is on the forefront of cryptocurrency technology!!

Bcash is the real Bitcoin guise!!!

[Anonymous No.7056674]

>>7056613

read>>7056583

centralized node is an internet nerd argument
what matters is ADOPTION.
AFTER ADOPTION, people can determine if node centralization is a problem
This entire argument is putting the cart before the horse from t. bizlets

[Anonymous No.7056701]

>>7056583
Except you can't because you didn't work on a proper solution for tomorrow.

[Anonymous No.7056705]

>>7056652
Kek bcasher btfo

[Anonymous No.7056751]

>>7056674
Dayum Anon, I am btfo you are right

10,000 nodes is enough. You know the exact amount of decentealization and blocksize we need! Glad that bcash will overtake Bitcoin in the long term! Roger, Craig wright, and jihan we're true visionaires. Fucking blockstream AXA bilderberg Greg Maxwell, Adam back, and like dash jr are trying to ruin Bitcoin for their own good!

I feel so woke Anon

[Anonymous No.7056762]

>>7056505
Again another Bitcoin Cash fraud coming into this great thread about small nodes and high fees and he posts fake Satoshi posts about using the Lightning Network WITH signatures which is the way it will be done with Bitcoin Cash. But we all know that Satoshi wanted to remove signatures to do the Lightning Network the way Segwit allows. So this quote must be fake as it implies Satoshi wanted the Bitcoin Cash version of Lightning, but we all know that is a fraud. Get out of here BCash shill! We don't want your Lightning Network with fees that cost only a few cents to open a channel. We want high fee channels brought by the Segwit protocol.

[Anonymous No.7056777]

Bcasher: we need to increase blocksize because muh fees!!!
160 IQ CoreGod: But won't that lead to centralization of nodes?
Bcash: [Too BTFO to talk]

[Anonymous No.7056807]

>>7056751
I know right, delusional bcashers say non mining nodes do nothing but thats nonsense as soon as i see jihan wu centralising my bitcoins on one of my many nodes i report it to the authorities at r/bitcoin

[Anonymous No.7056826]

>>7056751
I don't think Bcash fixes the fundament problems with Bitcoin and crypto adoption
So no I don't expect it to overtake Bitcoin
I'm just saying that the Bcash strategy is in fact correct if someone wanted to popularize bitcoin

[Anonymous No.7056833]

>>7056701
Businesses today have around 100GB/S internet. For 1 million tx/s you need about 2GB/S. I don't know where you learned to do math but I think 100 is higher than 2. You can do about 500 tx/s on a decent gaming computer built today. 500 tx/s is two orders of magnitude more than needed today. How is this not going to work in the future?

[Anonymous No.7056879]

>>7056807
Aah yess I am glad we are in full agreement. See you on the moon Anon when corecucks finally get btfo

[Anonymous No.7056922]

>>7056777
>But won't that lead to centralization of nodes?
That's right. Without lots of nodes who validates transactions? That's why we have to move all transactions off the blockchain where none of the transactions get validated by full nodes. If only BCashies would understand that the true way to ensure we have enough full nodes to validate the transactions is to simply move all transactions off the blockchain so that no transactions are validated ever. I know it takes a 200IQ gentlesir like yourself to understand, but if validating transactions is the issue we must move all transactions off the blockchain so that nodes don't see any of these transactions.

[Anonymous No.7056939]

>>7056826
They might be better at marketing and shit, but BTC doesn't need it. Already have network effect. There are 100s of alt coins with lower fees, faster transactions, more decentralization than Bitcoin cash. That fork will go nowhere

[Anonymous No.7056972]

>>7056922
Yes Anon let me and my 7 billion fellow humans pay for coffee onchain, with a slow distrubted database

What a great idea. This will definitely scale!! We will do 100000tx/s with 0 fees onchain! Lightning network on suicide watch

[Anonymous No.7056991]

>>7056939
But its the only coin that has smart contracts, privacy protocols, low fees, tokenization, and a block size that allows users do anything they want on the blockchain. Furthermore its the only coin that is planning on using industrial computers to power its blockchain. How do you expect desktop computers to compete with industrial computing power? That's like saying a bike will win a motorcycle race, it makes no sense.

[Anonymous No.7057029]

>mfw this thread
>corecucks are this retarded
>wow

[Anonymous No.7057036]

>>7056530
/Thread

[Anonymous No.7057065]

>>7055501
How long will these low fees last? This is the lowest they've been in several months, kinda took me by surprise.

[Anonymous No.7057067]

>mfw this thread
>corecucks are this retarded
>wow

[Anonymous No.7057164]

>>7057067
Back to >>>/r/BTC reddit fag

[Anonymous No.7057179]

>>7056972
I agree fellow 200IQ CoreGod. Down with the blockchain. It is a worthless scam. Forget about the 7 million tx/s that the Cash devs have run in tests. We need the 100,000tx/s you are talking about. Simple Cashie minds don't understand that when you account for the Coriolis effect 100,000 is more than 7 million.

https://news.bitcoin.com/coingeek-funds-a-terabyte-block-initiative-for-bitcoin-cash-with-3-6m-euro/

[Anonymous No.7057261]

>>7057179
My bruddah when will these corecucks wakeup? They must sell their BTC for the real Bitcoin!

[Anonymous No.7057288]

>>7057067
I don't even think corecuck is an insult. The cuckold is a fine evolutionary solution, just as lightning network is a solution that lets the existing financial system take part. Proud to be corecuck

[Anonymous No.7057347]

>>7057288
Ah'kay, I get this thread now.
want sum bbc betacuck?

[Anonymous No.7057415]

If the blocksize is reduced to zero and the blockchain isn't used then how will bitcoin be verified? How will it be decentralised?

[Anonymous No.7057420]

Interesting that when blockstream core bilderberg forked their version of segwit Bitcoin the price is almost 10x not of the original Bitcoin. Really makes you think why people will pay higher price for scam coin

[Anonymous No.7057440]

Maxwell put down that champaign
You must raise fees again

[Anonymous No.7057446]

>>7057415

[Anonymous No.7057470]

>>7057415
Everything will be done purely on lightning nodes, they will do all the transaction and supply verification, do you think everything should be broadcast to the entire network? That's naive and technically impossible!

[Anonymous No.7057488]

>>7057470
That's not secure enough. This gives the hubs too much power.

[Anonymous No.7057497]

>>7057415
Also remember, lightning is decentralised. See graph at >>7055858

[Anonymous No.7057509]

>>7057488
No it doesn't you Bcashfag
>you still don't get this thread

[Anonymous No.7057513]

>>7057497
Excuse my ignorance, I don't know how it works desu. I don't come to BTC threads much because I never hold BTC but what does it do?

[Anonymous No.7057536]

>>7057488
No you don't understand, the hubs are just another part of the decentralised network, look at the graph, everything is clear then. Maybe some hubs might look like they're a bit more important than others, but that's a combination of optical illusion because of the bad choice of graph here (I should've used the circular format that makes it more clear that everything is truly randomly distributed), and also maybe to the extent they are actually a bit more important in the network that they won by their dominance in the free market maybe they're a tiny bit more centralised than some pleb's hub, but that's not their fault and they shouldn't be punished for their efficiency desu.

[Anonymous No.7057538]

BTC - fees getting lower

because nobody uses it for transactions anymore.

kek

[Anonymous No.7057546]

>>7057497
I know right, I'd much rather have 1 or 2 miners in charge of every transaction in the world, rather than have a few optional hubs in the Lightning Network that I can avoid completely.

[Anonymous No.7057548]

>>7055858
So forget the irony for a second. Is this pic showing the nodes running Lighting Network? And that it's dominated by certain ones? Do we have any idea of who the prevalent nodes belong to?

[Anonymous No.7057550]

We alpha bois, when we fork to 10terabyte blocks, we will break the 100000000tx/s with zero orphan blocks.


Non mining nodes on suicide watch!

[Anonymous No.7057564]

>>7057538
Locking in the price as tone vays predicted

[Anonymous No.7057605]

>>7057550
>soon after they wuz dickin down hardcore
looks pretty gay bro

[Anonymous No.7057682]

>>7057548
No THAT'S AN ILLUSION LOOK HERE IS THE SUPERIOR GRAPH MAKING IT CLEARER THAT EVERYTHING IS RANDOM SHUTUP BCASHIE

[Anonymous No.7057702]

>>7057682
Kek

[Anonymous No.7057807]

>>7055685
Why didn't silly crypto circles simply use a faster crypto circle such as Ripple or Doge?

[Anonymous No.7058019]

>>7057548
Also they definitely *DO NOT* belong to NSA, CIA or similar agencies.

[Anonymous No.7058184]

>>7057548
that is testnet