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From: Luv Khemani <luvb@hotmail.com>
To: Jared Lee Richardson <jaredr26@gmail.com>
Thread-Topic: [bitcoin-dev] Hard fork proposal from last week's meeting
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Cc: Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org>
Subject: Re: [bitcoin-dev] Hard fork proposal from last week's meeting
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> Nodes don't do politics.  People do, and politics is a lot larger with a =
lot more moving parts than just node operation.


Node operation is making a stand on what money you will accept.

Ie Your local store will only accept US Dollars and not Japanese Yen. Witho=
ut being able to run a node, you have no way to independently determine wha=
t you are receiving, you could be paid Zimbawe Dollars and wouldn't know an=
y better.

> Full nodes protect from nothing if the chain they attempt to use is nonfu=
nctional.

This is highly subjective.
Just because it is nonfunctional to you, does not mean it is nonfunctional =
to existing users.

> This power is far more complicated than just nodes.

I never implied otherwise.

> You're implying that node operation =3D=3D political participation.

Ofcourse it is. Try paying for my goods using BU/Ehtereum/Dash/etc.. or a B=
itcoin forked with inflation, you will not get any goods regardless of how =
much hashrate those coins have.

> Miners being distributed in enough countries and locations to avoid any s=
ingle outside attacker group from having enough leverage to prevent transac=
tion inclusion, and miners also having enough incentives(philosophical or e=
conomic) to refuse to collude towards transaction exclusion.

It's good that you see the importance of this. You should also take into co=
nsideration the number of independent mining entities it takes to achieve 5=
1% hashrate. It will be of little use to have thousands on independent mine=
rs/pools  if 3 large pools make up 51% of hash rate and collude to attack t=
he network.

>  If users refused to get on board, exchanges would follow users.  If mine=
rs refused to get on board, the attempt would be equally dead in the water.=
  It would require a majority of users, businesses and miners to change the=
 limit;

> Nodes have absolutely no say in the matter if they can't segment the netw=
ork, and even if they could their impact could be repaired.  Users !=3D Nod=
es.

Nodes define which network they want to follow. Without a Node, you don't e=
ven get to decide which segement you are on. Either miners decide( for SPV =
wallets) or your wallet's server decides(Node). You have no control without=
 a

>> What makes transactions irreversible
>Nodes have absolutely no say in the matter, they always follow the longest=
 chain unless a hardfork was applied.

My bad here, hashpower decides order. This is the sole reason we have minin=
g, to order transactions.

> Mutual destruction comes from the market forces on the exchanges, and the=
y could give a rats ass whether you run a node or not.

Ability to run a node and validate rules =3D> Confidence in currency =3D> H=
igher demand =3D> Higher exchange rate

I would not be holding any Bitcoins if it was unfeasible for me to run a No=
de and instead had to trust some 3rd party that the currency was not being =
inflated/censored. Bitcoin has value because of it's trustless properties. =
Otherwise, there is no difference between cryptocurrencies and fiat.

> Literally the only reason we have 10s of billions of dollars of value is =
because speculation, which includes nearly all Bitcoin users/holders and al=
most all businesses and miners.  While  Bitcoin borrows useful features fro=
m gold, it has more possible uses, including uses that were never possible =
before Bitcoin existed, and we believe that gives it huge potential.
> The ability of other systems to do transactions, like visa or cash, come =
with the limitations of those systems.  Bitcoin was designed to break those=
 limitations and STILL provide the ability to do transactions.  We might al=
l agree Bitcoin isn't going to ever solve the microtransaction problem, at =
least not on-chain, but saying Bitcoin doesn't need utility is just foolish=
.  Gold doesn't need utility, gold has 4,000 years of history.  We don't.
> There's no reason those blocksize increases can't be tied to or related t=
o usage increases

Blocksize has nothing to do with utility, only cost of on-chain transaction=
s.
OTOH increasing the blocksize has alot to do with introducing the very limi=
tations that Visa/Cash have.
Why would you risk destroying Bitcoin's primary proposition (removing limit=
ations of Cash/Visa) for insignificant capacity increase?

> That's like saying it would be better to do nothing so someone else solve=
s our problem for us than it would be for us to do what we can to solve it =
ourselves.  Someone else solving our problem may very well be Ethereum, and=
 "solving it for us" is pulling Bitcoin investments, users and nodes away i=
nto Ethereum.

Who says nothing is being done? Segwit, Lightning, pre-loaded wallets like =
Coinbase are all solutions.




On Thu, Mar 30, 2017 at 12:11 AM, Luv Khemani <luvb@hotmail.com<mailto:luvb=
@hotmail.com>> wrote:


>> If home users are not running their own full nodes, then home users have=
 to trust and rely on other, more powerful nodes to represent them. Of cour=
se, the more powerful nodes, simply by nature of having more power, are goi=
ng to have different opinions and objectives from the users.

>I think you're conflating mining with node operation here.  Node users onl=
y power is to block the propagation of certain things.  Since miners also h=
ave a node endpoint, they can cut the node users out of the equation by lin=
king with eachother directly - something they already do out of practicalit=
y for propagation.  Node users do not have the power to arbitrate consensus=
, that is why we have blocks and PoW.

You are only looking at technical aspects and missing the political aspect.

Node users decide what a Bitcoin is. It matters not how much hash power is =
behind a inflationary supply chain fork, full nodes protect the user from t=
he change of any properties of Bitcoin which they do not agree with. The ab=
ility to retain this power for users is of prime importance and is arguably=
 what gives Bitcoin most of it's value. Any increase in the cost to run a f=
ull node is an increase in cost to maintain monetary sovereignty. The abili=
ty for a user to run a node is what keeps the miners honest and prevents th=
em from rewriting any of Bitcoin's rules.

If it's still difficult to grasp the above paragraph, ask yourself the foll=
owing questions,
- What makes Bitcoin uncensorable
- What gives confidence that the 21 million limit will be upheld
- What makes transactions irreversible
- If hashpower was king as you make it to be, why havn't miners making up m=
ajority hashrate who want bigger blocks been able to change the blocksize?

The market is not storing 10s of billions of dollars in Bitcoin despite all=
 it's risks because it is useful for everyday transactions, that is a solve=
d problem in every part of the world (Cash/Visa/etc..).

Having said that, i fully empathise with your view that increasing transact=
ion fees might allow competitors to gain marketshare for low value use case=
s. By all means, we should look into ways of solving the problem. But all t=
hese debates around blocksize is a total waste of time. Even if we fork to =
2MB, 5MB, 10MB. It is irrelevant in the larger picture, transaction capacit=
y will still be too low for global usage in the medium-long term. The addit=
ional capacity from blocksize increases are linear improvements with very l=
arge systemic costs compared with the userbase and usage which is growing e=
xponentially. Lightning potentially offers a couple or orders of magnitude =
of scaling and will make blocksize a non-issue for years to come. Even if i=
t fails to live up to the hype, you should not discount the market innovati=
ng solutions when there is money to be made.



--_000_SINPR04MB1949A0AF3AD33B4664417068C2370SINPR04MB1949apcp_
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<html>
<head>
<meta http-equiv=3D"Content-Type" content=3D"text/html; charset=3Diso-8859-=
1">
<style type=3D"text/css" style=3D"display:none;"><!-- P {margin-top:0;margi=
n-bottom:0;} --></style>
</head>
<body dir=3D"ltr">
<div id=3D"divtagdefaultwrapper" style=3D"font-size:12pt;color:#000000;font=
-family:Calibri,Arial,Helvetica,sans-serif;" dir=3D"ltr">
<p><span style=3D"font-family: &quot;comic sans ms&quot;, fantasy, cursive;=
 font-size: 13.3333px;">&gt;&nbsp;Nodes don't do politics.&nbsp; People do,=
 and politics is a lot larger with a lot more moving parts than just node o=
peration.</span><br>
</p>
<p><span style=3D"font-family: &quot;comic sans ms&quot;, fantasy, cursive;=
 font-size: 13.3333px;"><br>
</span></p>
<p><span style=3D"font-family: &quot;comic sans ms&quot;, fantasy, cursive;=
 font-size: 13.3333px;">Node operation is making a stand on what money you =
will accept.&nbsp;</span></p>
<p><span style=3D"font-family: &quot;comic sans ms&quot;, fantasy, cursive;=
 font-size: 13.3333px;">Ie Your local store will only accept US Dollars and=
 not Japanese Yen. Without being able to run a node, you have no way to ind=
ependently determine what you are receiving,
 you could be paid Zimbawe Dollars and wouldn't know any&nbsp;better.</span=
></p>
<div style=3D"color: rgb(0, 0, 0);">
<div>
<div dir=3D"ltr">
<div><br>
</div>
<div><span style=3D"color:rgb(0,0,0); font-family:&quot;comic sans ms&quot;=
,fantasy,cursive; font-size:13.3333px">&gt;&nbsp;Full nodes protect from no=
thing if the chain they attempt to use is nonfunctional.</span></div>
<div><span style=3D"color:rgb(0,0,0); font-family:&quot;comic sans ms&quot;=
,fantasy,cursive; font-size:13.3333px"><br>
</span></div>
<div><span style=3D"color:rgb(0,0,0); font-family:&quot;comic sans ms&quot;=
,fantasy,cursive; font-size:13.3333px"><span style=3D"font-family: &quot;co=
mic sans ms&quot;, fantasy, cursive; font-size: 13.3333px;">This is highly =
subjective.</span><br>
</span></div>
<div><span style=3D"color:rgb(0,0,0); font-family:&quot;comic sans ms&quot;=
,fantasy,cursive; font-size:13.3333px">Just because it is nonfunctional to =
you, does not mean it is nonfunctional to existing users.&nbsp;
</span></div>
<div><br>
</div>
<div><span style=3D"color:rgb(0,0,0); font-family:&quot;comic sans ms&quot;=
,fantasy,cursive; font-size:13.3333px">&gt;&nbsp;This power is far more com=
plicated than just nodes.&nbsp;&nbsp;</span></div>
<div><span style=3D"color:rgb(0,0,0); font-family:&quot;comic sans ms&quot;=
,fantasy,cursive; font-size:13.3333px"><br>
</span></div>
<div><span style=3D"color:rgb(0,0,0); font-family:&quot;comic sans ms&quot;=
,fantasy,cursive; font-size:13.3333px">I never implied otherwise.</span></d=
iv>
<div><span style=3D"color:rgb(0,0,0); font-family:&quot;comic sans ms&quot;=
,fantasy,cursive; font-size:13.3333px"><br>
</span></div>
<div><span style=3D"color:rgb(0,0,0); font-family:&quot;comic sans ms&quot;=
,fantasy,cursive; font-size:13.3333px">&gt;&nbsp;You're implying that node =
operation =3D=3D political participation.&nbsp;&nbsp;</span></div>
<div><span style=3D"color:rgb(0,0,0); font-family:&quot;comic sans ms&quot;=
,fantasy,cursive; font-size:13.3333px"><br>
</span></div>
<div><span style=3D"color:rgb(0,0,0); font-family:&quot;comic sans ms&quot;=
,fantasy,cursive; font-size:13.3333px">Ofcourse it is. Try paying for my go=
ods using BU/Ehtereum/Dash/etc.. or a Bitcoin forked with inflation, you wi=
ll not get any goods regardless of how much
 hashrate those coins have.</span></div>
<div><br>
</div>
<div><span style=3D"color:rgb(0,0,0); font-family:&quot;comic sans ms&quot;=
,fantasy,cursive; font-size:13.3333px">&gt;&nbsp;Miners being distributed i=
n enough countries and locations to avoid any single outside attacker group=
 from having enough leverage to prevent transaction
 inclusion, and miners also having enough incentives(philosophical or econo=
mic) to refuse to collude towards transaction exclusion.</span></div>
<div><span style=3D"color:rgb(0,0,0); font-family:&quot;comic sans ms&quot;=
,fantasy,cursive; font-size:13.3333px"><br>
</span></div>
<div><span style=3D"color:rgb(0,0,0); font-family:&quot;comic sans ms&quot;=
,fantasy,cursive; font-size:13.3333px">It's good that you see the importanc=
e of this. You should also take into consideration the number of independen=
t mining entities it takes to achieve 51% hashrate.
 It will be of little use to have thousands on independent miners/pools &nb=
sp;if 3 large pools make up 51% of hash rate and collude to attack the netw=
ork.</span></div>
<div><br>
</div>
<div><span style=3D"font-family: &quot;comic sans ms&quot;, fantasy, cursiv=
e; font-size: 13.3333px;">&gt; &nbsp;If users refused to get on board, exch=
anges would follow users.&nbsp; If miners refused to get on board, the atte=
mpt would be equally dead in the water.&nbsp; It would require
 a majority of users, businesses and miners to change the limit;&nbsp;</spa=
n></div>
<div><span style=3D"color:rgb(0,0,0); font-family:&quot;comic sans ms&quot;=
,fantasy,cursive; font-size:13.3333px"><br>
</span></div>
<div><span style=3D"color:rgb(0,0,0); font-family:&quot;comic sans ms&quot;=
,fantasy,cursive; font-size:13.3333px">&gt;&nbsp;Nodes have absolutely no s=
ay in the matter if they can't segment the network, and even if they could =
their impact could be repaired.&nbsp; Users !=3D Nodes.</span></div>
<div><span style=3D"color:rgb(0,0,0); font-family:&quot;comic sans ms&quot;=
,fantasy,cursive; font-size:13.3333px"><br>
</span></div>
<div><span style=3D"color:rgb(0,0,0); font-family:&quot;comic sans ms&quot;=
,fantasy,cursive; font-size:13.3333px">Nodes define which network they want=
 to follow. Without a Node, you don't even get to decide which segement you=
 are on. Either miners decide( for SPV wallets)
 or your wallet's server decides(Node). You have no control without a</span=
></div>
<div><span style=3D"color:rgb(0,0,0); font-family:&quot;comic sans ms&quot;=
,fantasy,cursive; font-size:13.3333px"><br>
</span></div>
<div><span style=3D"color:rgb(0,0,0); font-family:&quot;comic sans ms&quot;=
,fantasy,cursive; font-size:13.3333px">&gt;&gt;&nbsp;</span><span style=3D"=
color:rgb(0,0,0); font-family:&quot;comic sans ms&quot;,fantasy,cursive; fo=
nt-size:13.3333px">What makes transactions irreversible</span></div>
<div><span style=3D"color:rgb(0,0,0); font-family:&quot;comic sans ms&quot;=
,fantasy,cursive; font-size:13.3333px"></span><span style=3D"font-family: &=
quot;comic sans ms&quot;, fantasy, cursive; font-size: 13.3333px;">&gt;</sp=
an><span style=3D"font-family: &quot;comic sans ms&quot;, fantasy, cursive;=
 font-size: 13.3333px;">Nodes
 have absolutely no say in the matter, they always follow the longest chain=
 unless a hardfork was applied. &nbsp;</span></div>
<div><span style=3D"color:rgb(0,0,0); font-family:&quot;comic sans ms&quot;=
,fantasy,cursive; font-size:13.3333px"><br>
</span></div>
<div><span style=3D"color:rgb(0,0,0); font-family:&quot;comic sans ms&quot;=
,fantasy,cursive; font-size:13.3333px">My bad here, hashpower decides order=
. This is the sole reason we have mining, to order transactions.</span></di=
v>
<div><span style=3D"color:rgb(0,0,0); font-family:&quot;comic sans ms&quot;=
,fantasy,cursive; font-size:13.3333px"><br>
</span></div>
<div><span style=3D"color:rgb(0,0,0); font-family:&quot;comic sans ms&quot;=
,fantasy,cursive; font-size:13.3333px">&gt;&nbsp;Mutual destruction comes f=
rom the market forces on the exchanges, and they could give a rats ass whet=
her you run a node or not.<br>
<br>
Ability to run a node and validate rules =3D&gt; Confidence in currency =3D=
&gt; Higher demand =3D&gt; Higher exchange rate</span></div>
<div><span style=3D"color:rgb(0,0,0); font-family:&quot;comic sans ms&quot;=
,fantasy,cursive; font-size:13.3333px"><br>
</span></div>
<div><span style=3D"color:rgb(0,0,0); font-family:&quot;comic sans ms&quot;=
,fantasy,cursive; font-size:13.3333px">I would not be holding any Bitcoins =
if it was unfeasible for me to run a Node and instead&nbsp;had to trust som=
e 3rd party&nbsp;that the currency was not being inflated/censored.
 Bitcoin has value because of it's trustless properties. Otherwise, there i=
s no difference between cryptocurrencies and fiat.</span></div>
<div><br>
</div>
<div><span style=3D"font-size:12.8px">&gt;&nbsp;Literally the only reason w=
e have 10s of billions of dollars of value is because speculation, which in=
cludes nearly all Bitcoin users/holders and almost all businesses and miner=
s.&nbsp; While &nbsp;Bitcoin borrows useful features
 from gold, it has more possible uses, including uses that were never possi=
ble before Bitcoin existed, and we believe that gives it huge potential.<br=
>
&gt;&nbsp;The ability of other systems to do transactions, like visa or cas=
h, come with the limitations of those systems.&nbsp; Bitcoin was designed t=
o break those limitations and STILL provide the&nbsp;ability to do transact=
ions.&nbsp; We might all agree Bitcoin isn't going to ever
 solve the microtransaction problem, at least not on-chain, but saying Bitc=
oin doesn't need utility is just foolish. &nbsp;Gold doesn't need utility, =
gold has 4,000 years of history.&nbsp; We don't.</span></div>
<div><span style=3D"font-size:12.8px"><span style=3D"font-family: &quot;com=
ic sans ms&quot;, fantasy, cursive; font-size: 13.3333px;">&gt;&nbsp;There'=
s no reason those blocksize increases can't be tied to or related to usage =
increases</span><br>
</span></div>
<div><span style=3D"font-size:12.8px"><br>
</span></div>
<div><span style=3D"font-size:12.8px"><span style=3D"font-family: &quot;com=
ic sans ms&quot;, fantasy, cursive; font-size: 13.3333px;">Blocksize has no=
thing to do with utility, only cost of on-chain transactions.&nbsp;</span><=
/span></div>
<div><span style=3D"font-size:12.8px"><span style=3D"font-family: &quot;com=
ic sans ms&quot;, fantasy, cursive; font-size: 13.3333px;"><u>OTOH increasi=
ng the blocksize has alot to do with introducing the very limitations that =
Visa/Cash have.&nbsp;</u></span></span></div>
<div><span style=3D"font-size:12.8px"><span style=3D"font-family: &quot;com=
ic sans ms&quot;, fantasy, cursive; font-size: 13.3333px;"><u>Why would you=
 risk destroying Bitcoin's primary proposition (removing limitations of Cas=
h/Visa) for insignificant capacity increase?</u></span><br>
</span></div>
<div><br>
</div>
<div><span style=3D"font-family: &quot;comic sans ms&quot;, fantasy, cursiv=
e; font-size: 13.3333px;">&gt;&nbsp;That's like saying it would be better t=
o do nothing so someone else solves our problem for us than it would be for=
 us to do what we can to solve it ourselves.&nbsp; Someone
 else solving our problem may very well be Ethereum, and &quot;solving it f=
or us&quot; is pulling Bitcoin investments, users and nodes away into Ether=
eum.</span><br>
</div>
<div><span style=3D"font-family: &quot;comic sans ms&quot;, fantasy, cursiv=
e; font-size: 13.3333px;"><br>
</span></div>
<div><span style=3D"font-family: &quot;comic sans ms&quot;, fantasy, cursiv=
e; font-size: 13.3333px;">Who says nothing is being done? Segwit, Lightning=
, pre-loaded&nbsp;wallets like Coinbase are all solutions.</span></div>
<div><span style=3D"color:rgb(0,0,0); font-family:&quot;comic sans ms&quot;=
,fantasy,cursive; font-size:13.3333px"><br>
<br>
</span></div>
<div><span style=3D"color:rgb(0,0,0); font-family:&quot;comic sans ms&quot;=
,fantasy,cursive; font-size:13.3333px"><br>
</span></div>
</div>
<div class=3D"gmail_extra"><br>
<div class=3D"gmail_quote">On Thu, Mar 30, 2017 at 12:11 AM, Luv Khemani <s=
pan dir=3D"ltr">
&lt;<a href=3D"mailto:luvb@hotmail.com" target=3D"_blank">luvb@hotmail.com<=
/a>&gt;</span> wrote:<br>
<blockquote class=3D"gmail_quote" style=3D"margin:0 0 0 .8ex; border-left:1=
px #ccc solid; padding-left:1ex">
<div dir=3D"ltr">
<div id=3D"m_-5222807063580840359divtagdefaultwrapper" dir=3D"ltr" style=3D=
"font-size:12pt; color:#000000; font-family:Calibri,Arial,Helvetica,sans-se=
rif">
<p><br>
</p>
<div>
<div><span class=3D"">
<div dir=3D"ltr" style=3D"color:rgb(0,0,0)"><span style=3D"font-size:12.8px=
">&gt;&gt;&nbsp;</span><span style=3D"font-size:12.8px">If home users are n=
ot running their own full nodes, then home users have to trust and rely on =
other, more powerful nodes to represent them. Of course,
 the more powerful nodes, simply by nature of having more power, are going =
to have different opinions and objectives from the users.<br>
<br>
&gt;I think you're conflating mining with node operation here.&nbsp; Node u=
sers only power is to block the propagation of certain things.&nbsp; Since =
miners also have a node endpoint, they can cut the node users out of the eq=
uation by linking with eachother directly - something
 they already do out of practicality for propagation.&nbsp; Node users do n=
ot have the power to arbitrate consensus, that is why we have blocks and Po=
W.</span></div>
<div dir=3D"ltr" style=3D"color:rgb(0,0,0)"><span style=3D"font-size:12.8px=
"><br>
</span></div>
</span>
<div dir=3D"ltr" style=3D"color:rgb(0,0,0)"><span style=3D"font-family:&quo=
t;Comic Sans MS&quot;,fantasy,cursive; font-size:10pt">You are only looking=
 at technical aspects and missing the political aspect.</span></div>
<div dir=3D"ltr" style=3D"color:rgb(0,0,0)"><span style=3D"font-family:&quo=
t;Comic Sans MS&quot;,fantasy,cursive; font-size:10pt"><br>
</span></div>
<div dir=3D"ltr" style=3D"color:rgb(0,0,0)"><span style=3D"font-family:&quo=
t;Comic Sans MS&quot;,fantasy,cursive; font-size:10pt">Node users decide wh=
at a Bitcoin is. It matters not how much hash&nbsp;power is behind a inflat=
ionary supply chain&nbsp;fork, full nodes protect the user
 from the change of any properties of Bitcoin which they do not agree with.=
 The ability to retain this power for users is of prime importance and is a=
rguably what gives Bitcoin most of it's value. Any increase in the cost to =
run a full node is an increase in
 cost to maintain monetary sovereignty. The ability for a user to run a nod=
e is what keeps the miners honest and prevents them from rewriting any of B=
itcoin's rules.</span><br>
</div>
<div dir=3D"ltr" style=3D"color:rgb(0,0,0)"><span style=3D"font-family:&quo=
t;Comic Sans MS&quot;,fantasy,cursive; font-size:10pt"><br>
</span></div>
<div dir=3D"ltr" style=3D"color:rgb(0,0,0)"><span style=3D"font-family:&quo=
t;Comic Sans MS&quot;,fantasy,cursive; font-size:10pt">If it's still diffic=
ult to grasp the above paragraph, ask yourself the following questions,</sp=
an></div>
<div dir=3D"ltr" style=3D"color:rgb(0,0,0)"><span style=3D"font-family:&quo=
t;Comic Sans MS&quot;,fantasy,cursive; font-size:10pt">- What makes Bitcoin=
 uncensorable</span></div>
<div dir=3D"ltr" style=3D"color:rgb(0,0,0)"><span style=3D"font-family:&quo=
t;Comic Sans MS&quot;,fantasy,cursive; font-size:10pt">- What gives confide=
nce that the 21 million limit will be upheld</span></div>
<div dir=3D"ltr" style=3D"color:rgb(0,0,0)"><span style=3D"font-family:&quo=
t;Comic Sans MS&quot;,fantasy,cursive; font-size:10pt">- What makes transac=
tions irreversible</span></div>
<div dir=3D"ltr"><font face=3D"Comic Sans MS, fantasy, cursive"><span style=
=3D"font-size:10pt">- If hashpower was king as you make it to be, why
</span><span style=3D"font-size:13.3333px">havn't</span><span style=3D"font=
-size:10pt">&nbsp;miners making up majority hashrate who want bigger blocks=
 been able to change the blocksize?</span></font></div>
<div dir=3D"ltr" style=3D"color:rgb(0,0,0)"><br>
</div>
<div dir=3D"ltr" style=3D"color:rgb(0,0,0)"><font face=3D"Comic Sans MS, fa=
ntasy, cursive"><span style=3D"font-size:13.3333px">The market is not stori=
ng 10s of billions of dollars in Bitcoin despite all it's risks&nbsp;becaus=
e it is useful for everyday transactions, that
 is a solved problem in every part of the world (Cash/Visa/etc..).&nbsp;</s=
pan></font></div>
<div dir=3D"ltr" style=3D"color:rgb(0,0,0)"><font face=3D"Comic Sans MS, fa=
ntasy, cursive"><span style=3D"font-size:13.3333px"><br>
</span></font></div>
<div dir=3D"ltr" style=3D"color:rgb(0,0,0)"><font face=3D"Comic Sans MS, fa=
ntasy, cursive"><span style=3D"font-size:13.3333px">Having said that, i ful=
ly empathise with your view that increasing transaction fees might allow co=
mpetitors to gain marketshare for low value
 use cases. By all means, we should look into ways of&nbsp;solving the prob=
lem. But all these&nbsp;debates around blocksize is a total waste of time. =
Even if we fork to 2MB, 5MB, 10MB. It is irrelevant in the larger picture, =
transaction capacity will still be too low
 for global usage in the medium-long term. The additional capacity from blo=
cksize increases are linear improvements with very large systemic&nbsp;cost=
s compared with the userbase and usage which is growing exponentially. Ligh=
tning potentially offers a couple or
 orders of magnitude of scaling and will make blocksize a non-issue for yea=
rs to come. Even if it fails to live up to the hype, you should not discoun=
t the market innovating solutions when there is money to be made.</span></f=
ont></div>
<div dir=3D"ltr" style=3D"color:rgb(0,0,0)">
<div><br>
</div>
</div>
</div>
</div>
</div>
</div>
</blockquote>
</div>
<br>
</div>
</div>
</div>
</div>
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