> 4 billion people
> let say 5% end up using BTC, 200million
> let's be super generous and say 90% do everything off chain on LN, still leaves 20million on chain
> let's say they make on average 2 tx a week, 40 million per week or 5,714,285 on chain TX per day
> btc can't do more than 400k without shitting the bed
> do people no realise this is literally impossible?
absolute meme.
yes we do, and the free market has already provided a solution
more chains with more coins
it is infinitely scalable
>boink the undoinked
The only tokens that have value in this model are stablecoins + native tokens used to pay tx fees
that is fine, the free market is beautiful
There's only one crypto - Bitcoin SV, and it will bank the entire world. Your shitcoin have to go back in the box pajeet.
I mean look at the diversity we have.
Natural selection will do its job.
you realise core devs dont wanna keep the block size limit for eternity right? did you fell for asicboost chink scammers meme?
This. The biggest problem for those people is that they don't have any money, not that they are "unbanked" lol. If they had money they would find a bank to take their money. It's a complete meme.
w-we are gonna make it, user-kun?
Also
>Protection against hyperinflation
Are these people retarded or something? Bitcoin lost like 85% of it's value this year and it'll probably keep losing value next year also. It's literally useless for the "store of value" meme.
my little shitcoin look so cute
So how will memecoin protect people living in say China if the Chinese government can just ban memecoin and put people in actual prison if they're found trading it?
lmao considering people were almost willing to necc themselves over an increase to 2mb i don't hold out much hope
how big would blocks have to be to do 20,000,000 tx per day, cheaply?
KILL THEM BOTH WITH FIRE
it's also EXTREMELY optimistic that 90% of new BTC users would be off chain from day 1... real number could be 50,000,000 on chain tx easily
2 min block at 128 MB
makes for 22 million TXs a day
the fork will take 2 hours to code and test
Nigger buys a coffee
Basedboy buys a virtual cat
Millions of computers worldwide have to calculate that same transaction and somehow make a profit on it.
They need loans to build up their economies. If everything is on chain they can back small loans with their small assets automatically with repo middle men automatically converting them to currency for the lenders so they have no risk. Business that bankers wouldn't be interested in now because in the current environment it's too much work and risk for too little return. Everything will be done on sidechains and settled on BTC. You can settle however often or rarely you want, it's just to bank your assets in the chain that is hardest to manipulate.
Borpcorn moon
You're describing the vision for ethereum, not bitcoin. The only token on bitcoin is usdt and it already launched on ethereum. Every other major stablecoin or tokenized asset is also on ethereum.
You can even lend tokens on compound for interest, all done as a smart contract, or borrow dai (usd token) with eth as collateral.
Bitcoin isn't even in the game
The whole ethereum VM thing doesn't work and never will. Vitalik rushed to build a prototype and everyone got so excited he can never admit that it's useless shit. Implementing smart contracts was always the plan for BTC but it needs infinitely scalable transactions first. Infinite as in actually infinite not just very large. Sidechains and time lock like LN uses is the only way.
>The whole ethereum VM thing doesn't work and never will.
It literally works right now. You do realize ethereum is 2-3x more scalable than bitcoin even now?
>Sidechains
The only 'sidechains' possible on btc require trusting its operators, like rootstock. It's impossible to make a trustless sidechain, on ethereum it's possible.
You've been living under a bit rock. Imagine being this ignorant and deluded. The absolute state of bitcoin maximalists.
THIS.
BASED AND REDPILLED. have been saying this for years
>2-3x
Is useless shit. Anything less than infinite scalability is a useless toy.
>Maximalists actually believe BTC will have smart contracts
You are worse than nocoiners.
Ethereum is a superset of bitcoin, which means everything possible on bitcoin is possible on ethereum.
State and payment channel networks in development:
Raiden - ln clone
Celer - state channel network (meaning arbitrary code between nodes, not just payments)
Perun - same
L4 - same
There are others I don't remember.
P. S. LN inventor is working on Plasma (trustless sidechains) for ethereum.
"Contracts" will be written in whatever language you want and can be private or public. It's not for the settlement layer to impose a language since that's something that should be developed over time from different angles while the settlement layer is supposed to be static, time tested and trusted.
>static, time tested and trusted.
Core code monkeys introduced a double spending bug in November 2017.
> btc can't do more than 400k without shitting the bed
because of the fucking 1mb limit
>bitcoin
>protects against hyperinflation
Fucking kek.
Also, what exactly you can buy with it, except other cryptocoinshit and drugs?
>Millions of computers worldwide have to calculate that same transaction and somehow make a profit on it.
at 128mb blocks with an average of 1.5sat/byte they'll be doing amazing profits even today - yet alone with global adoption. Not sure what the problem is...
Isn't the supply of money effectively increased/decreased with money velocity?
Mc cormcock is dumb af
Imbecile
Well, you see, it's very simple.
Lambo.
>2 min block at 128 MB
Such a blockchain would grow by 33 TB every year. Much decentralized.
maximum block size =/= actual block size
actual block size for centuries will be average of 50 mb
crypto won you faggot
>implying every block is full like in bitcoin core
>implying $2000 for 33TB hard drives is any problem to mining companies making millions
>implying non-mining nodes matter
Get a hold of this brainlet
use a wallet stick
use a phone
use your own computer with VNC
have a shared block storage and just have your own verifier
have block checkpoint
Never said 128MB were the absolute maximum block size.
All I meant was 128MB worth of transactions (which I could have worded better, true)
we have to have maximum that is ok against the average network throughput
128MB is reasonable
2min is also reasonable
both a very far out there, but will work with no problem today
today BTC can processes 22 million TXs a day
if there is demand ....
This. The concept is layering. You don’t throw everything into one layer. You create multiple layers for the sake of modularity and so you can apply different protocols to different layers. For instance as a second layer solution you can either use liquid or lightning, or if someone creates another solution in the future you can use that. Similar to the story of TCP and UDP. TCP is for guaranteeing delivery of paclets. UDP is for sending the packets to the receiver ASAP.
Not to mention bitcoin's pseudonymity turns into 100% transparent government surveillance very quickly under an authoritarian regime. How a surveillance coin would be preferable to cash I don't know.
At some point the fees have to make up for the lack of block reward. The blocks will have to stay tiny so the fee market can keep the chain secure (if that's even possible).
gonna need sauce chief
>4 billion authoritarian people
yeah but let's get to the point, how can i use them to get rich fast then?
Babb will bank the unbanked.
1) You find a coin that can help people under an authoritarian regime (there's only one right now) and fill your bags as full as you can.
2) You meme it to prominence in the desired countries.
3)Scale by recruiting others to help you. This could resemble a pyramid scheme where each respective follower fills their bags at a higher price. This is a proven and effective model.
4) (Optional) Learn about Islam to get an idea of the kinds of mental attacks that work on people commonly under authoritarian regimes.