intabli

https://www.intabli.com

Password-protected resume! (Not really secure).

Most world governments and taxing authorities work for their populace, they could be easily voted out if people saw what other nations are benefiting from such innovation.

As for what’s feasible and evidence on it, I assure you, Edison had no clue that the internet will one day be born out of his electricity inventions and that it will be mostly used for porn, so sit back, relax and enjoy the next 100 years of untold human history.

Uncapped is a pseudo name for “capped just in time”. It’s never really uncapped.

If you’re interested in some work being done on such larger blocks, you’ll enjoy this presentation:

https://m.youtube.com/watch?v=5SJm2ep3X_M&feature=youtu.be

You mentioned it before that I did. And no I don’t want you to pump it, but answer the following yes/no questions please:

-) Did your article discuss miner profit from finding Bitcoin?

-) Did you mention that Bitcoin’s emission halves and will eventually end?

-) Did you mention that miners profit from including transactions?

-) Did you mention that transactions become the SOLE source of income once all Bitcoin is mined in around a century from now?

-) Did you mention that BTC is a version of Bitcoin which allows only for a maximum of 200k transactions every ten minutes?

-) Did you mention that the original design should allow for millions (and billions 30 years from now) of transactions every ten minutes?

-) Would such a huge number of transactions processed render miners more profitable than your calculation?

-) Would revenue from fees be much higher than the 1-2% you mentioned miners currently do?

-) Does omitting the above facts render your article possibly half-factual?

One increase every time its theoretical limit is approached, which becomes exponential as transaction growth becomes exponential.

If transactions scale enough for you to be able to shut down most bank branches, end commutes for all banking and central banking employees, shut down all credit card companies and their offices and terminals, turn off ATMs, end printing physical paper money and minting money, just to mention a few, I think the environment will be way, way better off.

That’s the argument behind unlimited on-chain transactions.

I needed to clarify that it wasn’t my proposal, as to how to gradually approach this, test nets are already deployed on many of the uncapped networks, I believe you’ll enjoy this great presentation by Peter Rizun and Andrew Stone, they’re far smarter than I’ll ever be: https://youtu.be/5SJm2ep3X_M

Ethereum is account based, not UTXO based, has a completely different overhead and you can’t possibly compare it to Bitcoin.

I think you will enjoy this great presentation by Peter Rizun and Andrew Stone:

https://youtu.be/5SJm2ep3X_M

If you measure value by the thing Bitcoin came to replace (fiat), your vision will be distorted.

If you measure value as a consequence of utility, they’re certainly far more valuable than BTC (BSV however is a corp coin and has weird copyrights so I wouldn’t touch it with a stick).

My proposal? I won’t take credit for Satoshi’s work, it was his proposal:

https://satoshi.nakamotoinstitute.org/posts/bitcointalk/485/

When you discuss miners, on a network DESIGNED to emit less Bitcoin and change to transaction fees down the line, it’s ultra important to note that this actually working vehicle exists and the same miners protecting the speculative vehicle are also protecting the actually working one. And when calculating for the working one, miners are set to be some of the richest businesses on the planet, even when ALL Bitcoin has been already mined, a 100 years from now, because of transaction fees.

Crypto is still very, very, early. I assure you of that.

But you make it seem as if it’s a done tale, as if there were no bad actors, no companies set to profit from selling their own “Layer 2” solutions, no censorship, etc. Reality is, even if the whole planet (not only the 99% of the community you claim) were set on a broken vehicle which they can barely drive but just speculate on, it won’t be long before most realize that this is just that, a broken vehicle meant for speculation and has nothing to do with peer to peer electronic cash, you know, Bitcoin.

So when you discuss miners, on a network DESIGNED to emit less Bitcoin and change to transaction fees down the line, it’s ultra important to note that this actually working vehicle exists and the same miners protecting the speculative vehicle are also protecting the working one. And when calculating for the working one, miners are set to be some of the richest businesses on the planet, even when ALL Bitcoin has been already mined, a 100 years from now.

I won’t point you to any, but you should dig deeper into the 2017 block size wars and understand why the community forked then and how, avoid the commercially appealing answers and the laser eyes.

Correct, the fees would decrease, but when when you can only process 200k transactions every ten minutes, there’s an upper limit of how much people are willing to pay before it becomes absurdly expensive. This reached almost $100 in the 2017 rush. It’s unsustainable and renders the network unusable for most of the planet.

When you on the other hand can process millions of transactions every block (and scalable as needed), you’ll charge far less per transaction while still allowing miners to generate a huge (and ever growing) revenue, while also enabling most of the planet to transact next to free.

From an environmental perspective, if you divide the hash rate environmental impact on a mere 200k transactions every ten minute, the carbon foot print per transaction would seem absurdly high. Do the same calculating for millions of transactions every ten minutes, and you’ll arrive at a far better environmentally friendly figure.

These uncapped forks do exist, they’re the reason the whole community split in 2017; so when those “analysis” articles ignore them and ignore the fact that the white paper and Bitcoin’s creator explicitly called for on-chain growth and scaling, they’re being either dishonest or ignorant.

It’s like someone saying “Look at how wasteful this car limited to 20MPH is! All cars are wasteful!”. No, not all cars, especially that the original design explicitly said to scale the engine as more speed is needed.

What renders this whole calculation wrong is that it doesn’t account for transaction fees AND transaction fees growth which was also supposed to be growing exponentially, had Bitcoin not been artificially limited to ~ 2 MB blocks every ten minutes.

On an actually uncapped Bitcoin instance, Blocks (Block size) and transaction fees will grow exponentially, rendering all such “Bitcoin is environmentally terrible” and “Miners aren’t profitable” calculations absurdly wrong.

Other instances exist that are chugging along flawlessly and are set to help miners grow their revenue with on-chain transaction fees growth: DYOR.

Of course, BTC Maxis lead by companies set to profit from such an artificial limit on Bitcoin (hint: they often peddle L2 solutions) would hate for you or anyone to understand and study those facts.

Yet another attack on peer to peer electronic cash, masquerading as a benefit handed over by the amazing thoughtful overlords to their ignorant peasants. Cryptocurrency is CURRENCY, meant to be spent and replaced and worked for, not “Hodl bro” like idiots everywhere tout.

It’s not sound engineering whatsoever, it actually is horrible engineering especially when the base layer is congested - Engineers and developers who are far more proficient than you have already chimed in on this, including Vitalik the creator of Ethereum, who also firmly supports the path to scale Bitcoin Cash is taking:

https://vitalik.ca/general/2019/12/26/mvb.html