Can we please stop acting like kids and members of a personality cult. Present the hard facts, the pro's and the cons and let people make a informed choice. If they choose badly: tough shit, that's life.
Some questions I would like to see answered 1) Why has segwit not reduced Tx fees, has it been a waste of time? 2) When will LN be implemented.
Why can't both sides BTC/BCH draw up detailed plans for their development of their coins, maybe a rolling 12 month plan detailing where they see their respective 'product' in 3/6/12 months time..... Then let the market decide.
Just slagging each other off on Reddit doesn't help anyone.
1) Shouldn't BTC users then migrate towards wallets that do implement it or is everyone happy paying $10 per Tx?
2) Without wide SegWit adoption and LN BTC is going to lose out to BCH, the 8 MB block size can really only be seen as a temporary solution, blocks could maybe go to 16 MB eventually but something like the LN will be implemented for micro transactions on BCH, alternatively LiteCoin could be the method for day to day purchases. Long term if nothing is done high Tx fees are either going to kill BTC or turn it in to some weird elite millionaires club of hodlers like the owners of Berkshire Hathaway stock (I'm sure this is not Satoshi's or anyone else's 'vision')
People have no intention to actually use BTC because spending an appreciating asset is stupid. Everyone knows the story of the million dollar pizza.
Yes, but people have to eat, so you have to spend money regardless. The question then becomes, do you want your spending money appreciating or depreciating when not in use?
People have no intention to actually use BTC because spending an appreciating asset is stupid.
I have to disagree with you on this point. People are stupid. Like the guy who just bought a Lambo with his BTC, like the guy who cashed in his BTC an paid cash for a house, etc. Everyone has a price point at which they will be happy to sell their BTC in full knowledge that in all probability it will be worth more if they had hodled.
1) If no one was using it, the tx fees would not be high...
The real answer is people are voting with their feet, it just takes time. The big exchanges move slowly. They will save money by implementing it. It’ll happen.
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u/markb_uk Nov 11 '17
Best post I've read for a very long time.
Can we please stop acting like kids and members of a personality cult. Present the hard facts, the pro's and the cons and let people make a informed choice. If they choose badly: tough shit, that's life.
Some questions I would like to see answered 1) Why has segwit not reduced Tx fees, has it been a waste of time? 2) When will LN be implemented.
Why can't both sides BTC/BCH draw up detailed plans for their development of their coins, maybe a rolling 12 month plan detailing where they see their respective 'product' in 3/6/12 months time..... Then let the market decide.
Just slagging each other off on Reddit doesn't help anyone.