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Date: Wed, 03 Jan 2024 01:11:58 -0800
From: Brad Morrison <bradmorrison@sonic.net>
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Cc: Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org>
Subject: Re: [bitcoin-dev] Ordinal Inscription Size Limits
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Erik/all,
Are you saying that node capacity is the primary technical limiting
factor to increasing adoption of bitcoin payments?
UBER & Lyft payments are actually poor examples because they are not
regular/monthly and I should not have used them (unless refilling
existing accounts, like gift cards). But utility bills would be a much
better example of an opportunity for bitcoin payments to compete with
existing credit card payment systems because processing timing has the
potential to be less urgent.
Sharing UTXOs seems pretty minor compared to lowering transaction costs.
Brad
On 2024-01-01 08:08, Erik Aronesty wrote:
>> .
>>
>> In the USA, where I am, large businesses like UBER, Lyft, and many major telecom, cable, & electric utilities process huge volumes of regular and irregular credit card payments on a monthly basis. Almost none oft hose transactions are completed in bitcoin.
>
> Unfortunately block size is not the limiting factor
>
> Main chain transactions have to be broadcast and stored on every node in the network which, as you know, cannot scale to the level of Uber payments
>
> Lighting and possibly ark are solutions to this problem
>
> Both require covenant tech of some kind to scale properly (nonrecursive is fine)
>
> Covenant tech (any will do, arguing about which is bike shedding at this point) allows people to share utxos and yet still maintain sovereignty over their assets
>
>>
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<html><head><meta http-equiv=3D"Content-Type" content=3D"text/html; charset=
=3DUTF-8" /></head><body style=3D'font-size: 10pt'>
<p>Erik/all, </p>
<p>Are you saying that node capacity is the primary technical limiting fact=
or to increasing adoption of bitcoin payments?</p>
<p>UBER & Lyft payments are actually poor examples because they are not=
regular/monthly and I should not have used them (unless refilling existing=
accounts, like gift cards). But utility bills would be a much better examp=
le of an opportunity for bitcoin payments to compete with existing credit c=
ard payment systems because processing timing has the potential to be less =
urgent.</p>
<p>Sharing UTXOs seems pretty minor compared to lowering transaction costs.=
</p>
<p>Brad</p>
<div> </div>
<p><br /></p>
<p>On 2024-01-01 08:08, Erik Aronesty wrote:</p>
<blockquote type=3D"cite" style=3D"padding: 0 0.4em; border-left: #1010ff 2=
px solid; margin: 0"><!-- html ignored --><!-- head ignored --><!-- meta ig=
nored -->
<div dir=3D"auto">
<div>
<div class=3D"gmail_quote">
<blockquote class=3D"gmail_quote" style=3D"margin: 0 0 0 .8ex; border-left:=
1px #ccc solid; padding-left: 1ex;">
<div style=3D"font-size: 10pt;">
<p>.</p>
<p>In the USA, where I am, large businesses like UBER, Lyft, and many major=
telecom, cable, & electric utilities process huge volumes of regular a=
nd irregular credit card payments on a monthly basis. Almost none oft hose =
transactions are completed in bitcoin.</p>
</div>
</blockquote>
</div>
</div>
<div dir=3D"auto"> </div>
<div dir=3D"auto"> </div>
<div dir=3D"auto">Unfortunately block size is not the limiting factor</div>
<div dir=3D"auto"> </div>
<div dir=3D"auto">Main chain transactions have to be broadcast and stored o=
n every node in the network which, as you know, cannot scale to the level o=
f Uber payments</div>
<div dir=3D"auto"> </div>
<div dir=3D"auto">Lighting and possibly ark are solutions to this problem</=
div>
<div dir=3D"auto"> </div>
<div dir=3D"auto">Both require covenant tech of some kind to scale properly=
(nonrecursive is fine)</div>
<div dir=3D"auto"> </div>
<div dir=3D"auto">Covenant tech (any will do, arguing about which is bike s=
hedding at this point) allows people to share utxos and yet still maintain =
sovereignty over their assets</div>
<div dir=3D"auto"> </div>
<div dir=3D"auto"> </div>
<div dir=3D"auto"> </div>
<div dir=3D"auto"> </div>
<div dir=3D"auto">
<div class=3D"gmail_quote">
<blockquote class=3D"gmail_quote" style=3D"margin: 0 0 0 .8ex; border-left:=
1px #ccc solid; padding-left: 1ex;">
<div style=3D"font-size: 10pt;">
<p><br /></p>
</div>
</blockquote>
</div>
</div>
</div>
</blockquote>
</body></html>
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