OP 23 May, 2020 - 10:59 PM
https://www.blockchain.com/charts/mempool-size
There is a clear problem with the Bitcoin network. For those of you who do not know, currently Bitcoin blocks are artificially limited to 1MB each, artificially limiting the throughput or transactions that Bitcoin is capable of. This has lead to extremely high fees and slow confirmation times in the past, and is already doing so now. The link above is the Bitcoin mempool, essentially the amount of data from transactions that are waiting to be confirmed. You can see a clear problem that will only get worse.
Unfortunately, the organization known as blockstream has taken charge of the majority of Bitcoin development, and with funds from unknown investors has successfully convinced the world that Bitcoin should only ever itself (on-chain) be capable of around 7 transactions per second with the 1MB block limit being what determines that. They are now attempting to push their system dubbed "liquid" which is an off chain solution with the goal that many sidechains using the liquid protocol will be sold to private corporations, the profits going into the hands of blockstream and its investors.
You can start to see a pretty clear picture of what is going on here. Step 1: control Bitcoin development. Step 2: Cripple Bitcoin with block limit. Step 3: Create a solution to the problem you just created, and sell it. Congratulations to the whole cryptocurrency community you just got Jew'd like every other time in history.
And in case you want to make the argument that the 1MB block limit is needed for decentralization (which is just factually incorrect if you do the math on storage and bandwidth costs of lets say 4MB), take this quote from Satoshi Nakamoto himself:
[/i]
That is the past, and the current. So now we are faced with the future. In my opinion, I think that the 1MB block limit will start to inhibit new users much faster than it did in 2017, as we will have even more people jumping onboard even quicker due to many factors but specifically the inflation we are about to see across the globe and especially in the United States with the USD (In case you don't know, recently they've printed over 25% of the M3 total money supply...). This being the case, we will see regular users who are just trying to escape inflation and the grip of international banking flock to the altcoins. Probably not Ether, as its fees are fucked too, but definitely the others. Bitcoin will likely remain in the space, but it will no longer be what you use to purchase all your accs here with. Bitcoin cannot compete with the alts at this point. I was hopeful in the beginning, but it seems blockstream and its followers are set in their ways.
Get ready for altszn, and keep stacking.
![[Image: LbWg5C1.jpg]](https://i.imgur.com/LbWg5C1.jpg)
There is a clear problem with the Bitcoin network. For those of you who do not know, currently Bitcoin blocks are artificially limited to 1MB each, artificially limiting the throughput or transactions that Bitcoin is capable of. This has lead to extremely high fees and slow confirmation times in the past, and is already doing so now. The link above is the Bitcoin mempool, essentially the amount of data from transactions that are waiting to be confirmed. You can see a clear problem that will only get worse.
Unfortunately, the organization known as blockstream has taken charge of the majority of Bitcoin development, and with funds from unknown investors has successfully convinced the world that Bitcoin should only ever itself (on-chain) be capable of around 7 transactions per second with the 1MB block limit being what determines that. They are now attempting to push their system dubbed "liquid" which is an off chain solution with the goal that many sidechains using the liquid protocol will be sold to private corporations, the profits going into the hands of blockstream and its investors.
You can start to see a pretty clear picture of what is going on here. Step 1: control Bitcoin development. Step 2: Cripple Bitcoin with block limit. Step 3: Create a solution to the problem you just created, and sell it. Congratulations to the whole cryptocurrency community you just got Jew'd like every other time in history.
And in case you want to make the argument that the 1MB block limit is needed for decentralization (which is just factually incorrect if you do the math on storage and bandwidth costs of lets say 4MB), take this quote from Satoshi Nakamoto himself:
Spoiler:
That is the past, and the current. So now we are faced with the future. In my opinion, I think that the 1MB block limit will start to inhibit new users much faster than it did in 2017, as we will have even more people jumping onboard even quicker due to many factors but specifically the inflation we are about to see across the globe and especially in the United States with the USD (In case you don't know, recently they've printed over 25% of the M3 total money supply...). This being the case, we will see regular users who are just trying to escape inflation and the grip of international banking flock to the altcoins. Probably not Ether, as its fees are fucked too, but definitely the others. Bitcoin will likely remain in the space, but it will no longer be what you use to purchase all your accs here with. Bitcoin cannot compete with the alts at this point. I was hopeful in the beginning, but it seems blockstream and its followers are set in their ways.
Get ready for altszn, and keep stacking.
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Shop is still under construction, but you can look :)
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Shop is still under construction, but you can look :)
https://cracked.to/Thread-Supreme-The-Fu...unterparts
