Bitcoin Mechanic
· 6d
If Bitcoin is not optimized for financial activity, people will transact off chain using trusted third parties, and the blockchain will increasingly consist of junk data no one wants to store.
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Strong disagree. Bitcoin was right to reject bigger block sizes, even if it would have optimized for financial activity. I'm okay with 40 cent fees. In fact I'm okay if people want to pay to vandalize the timechain. I don't even understand why this is a concern. I'll have almost exactly the same amount of Bitcoin either way. The lightning network is way faster and cheaper for transactions, and it should be. Remember the Genesis block has that day's newspaper headline recorded, and it hasn't deterred anyone from storing the timechain since then beginning with that block.