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From: Jared Lee Richardson <jaredr26@gmail.com>
Date: Thu, 30 Mar 2017 10:16:41 -0700
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To: Luv Khemani <luvb@hotmail.com>
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--001a114410fc57dfab054bf5db3e
Content-Type: text/plain; charset=UTF-8

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

Nodes don't do politics.  People do, and politics is a lot larger with a
lot more moving parts than just node operation.

> full nodes protect the user from the change of any properties of Bitcoin
which they do not agree with.

Full nodes protect from nothing if the chain they attempt to use is
nonfunctional.

> The ability 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 full node is an increase in cost to
maintain monetary sovereignty

This power is far more complicated than just nodes.  You're implying that
node operation == political participation.  Node operation is only a very
small part of the grand picture of the bitcoin balance of power.

> The ability for a user to run a node is what keeps the miners honest and
prevents them from rewriting any of Bitcoin's rules.

No, it isn't.  Nodes disagreeing with miners is necessary but not
sufficient to prevent that.  Nodes can't utilize a nonfunctional chain, nor
can they utilize a coin with no exchanges.

> What makes Bitcoin uncensorable

Only two things - 1. Node propagation being strong enough that a target
node can't be surrounded by attacker nodes (or so that attacker nodes can't
segment honest nodes), and 2. Miners being distributed in 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 economic) to refuse to collude towards
transaction exclusion.

Being able to run a node yourself has no real effect on either of the two.
Either we have enough nodes that an attacker can't segment the network or
we don't.

> What gives confidence that the 21 million limit will be upheld

What you're describing would result in a fork war.  The opposition to this
would widespread and preventing an attempt relies upon mutual destruction.
If users refused to get on board, exchanges would follow users.  If miners
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; Doing so without an overwhelming majority(90% at least) would still
result in a contentious fork that punished both sides(in price, confidence,
adoption, and possibly chain or node attacks) for refusing to agree.

Nodes have absolutely no say in the matter if they can't segment the
network, and even if they could their impact could be repaired.  Users !=
Nodes.

> What makes transactions irreversible

Err, this makes me worry that you don't understand how blockchains work...
This is because miners are severely punished for attempting to mine on
anything but the longest chain.  Nodes have absolutely no say in the
matter, they always follow the longest chain unless a hardfork was
applied.  If the hardfork has overwhelming consensus, i.e. stopping a 51%
attack, then the attack would be handled.  If the hardfork did not have
overwhelming consensus it would result in another fork war requiring users,
businesses, and miners to actively decide which to support and how, and
once again would involve mutual destruction on both forks.

Nodes don't decide any of these things.  Nodes follow the longest chain,
and have no practical choices in the matter.  Users not running nodes
doesn't diminish their power - Mutual destruction comes from the market
forces on the exchanges, and they could give a rats ass whether you run a
node or not.

> 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
solved problem in every part of the world (Cash/Visa/etc..).

This is just the "bitcoin is gold" argument.  Bitcoin is not gold.  For
someone not already a believer, Bitcoin is a risky, speculative investment
into a promising future technology, whereas gold is a stable physical asset
with 4,000 years of acceptance history that has the same value in nearly
every city on the planet.  Bitcoin is difficult to purchase and difficult
to find someone to exchange for goods or services.  Literally the only
reason we have 10s of billions of dollars of value is because speculation,
which includes nearly all Bitcoin users/holders and almost all businesses
and miners.  While Bitcoin borrows useful features from 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 all
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.

> 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.

Which is why it needs to be a formula or a continuous process, not a single
number.

> Even if it fails to live up to the hype, you should not discount the
market innovating solutions when there is money to be made.

That's like saying it would be better to 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.  Someone else solving our problem may very well be Ethereum, and
"solving it for us" is pulling Bitcoin investments, users and nodes away
into Ethereum.

> The additional capacity from blocksize increases are linear improvements
with very large systemic costs compared with the userbase and usage which
is growing exponentially.

The capacity increases do not have to be linear.  The increases in utility
are linear with blocksize increases, but so are the costs.  There's no
reason those blocksize increases can't be tied to or related to usage
increases, so long as the concerns about having too few nodes (or too few
fees) for security are handled.



On Thu, Mar 30, 2017 at 12:11 AM, Luv Khemani <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
> course, the more powerful nodes, simply by nature of having more power, are
> going to have different opinions and objectives from the users.
>
> >I think you're conflating mining with node operation here.  Node users
> only power is to block the propagation of certain things.  Since miners
> also have a node endpoint, they can cut the node users out of the equation
> by linking with eachother directly - something they already do out of
> practicality 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
> 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
> arguably 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 node is what keeps the miners honest and
> prevents them from rewriting any of Bitcoin's rules.
>
> If it's still difficult to grasp the above paragraph, ask yourself the
> following 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
> majority 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
> solved problem in every part of the world (Cash/Visa/etc..).
>
> Having said that, i fully empathise with your view that increasing
> transaction fees might allow competitors to gain marketshare for low value
> use cases. By all means, we should look into ways of solving the problem.
> But all these 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 blocksize increases are linear improvements
> with very large systemic costs compared with the userbase and usage which
> is growing exponentially. Lightning potentially offers a couple or orders
> of magnitude of scaling and will make blocksize a non-issue for years to
> come. Even if it fails to live up to the hype, you should not discount the
> market innovating solutions when there is money to be made.
>
>

--001a114410fc57dfab054bf5db3e
Content-Type: text/html; charset=UTF-8
Content-Transfer-Encoding: quoted-printable

<div dir=3D"ltr">&gt;=C2=A0<span style=3D"color:rgb(0,0,0);font-family:&quo=
t;comic sans ms&quot;,fantasy,cursive;font-size:13.3333px">You are only loo=
king at technical aspects and missing the political aspect.<br><br>Nodes do=
n&#39;t do politics.=C2=A0 People do, and politics is a lot larger with a l=
ot more moving parts than just node operation.</span><div><span style=3D"co=
lor:rgb(0,0,0);font-family:&quot;comic sans ms&quot;,fantasy,cursive;font-s=
ize:13.3333px"><br></span></div><div><span style=3D"color:rgb(0,0,0);font-f=
amily:&quot;comic sans ms&quot;,fantasy,cursive;font-size:13.3333px">&gt;=
=C2=A0</span><span style=3D"color:rgb(0,0,0);font-family:&quot;comic sans m=
s&quot;,fantasy,cursive;font-size:13.3333px">full nodes protect the user fr=
om the change of any properties of Bitcoin which they do not agree with.<br=
><br>Full nodes protect from nothing if the chain they attempt to use is no=
nfunctional.</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&qu=
ot;,fantasy,cursive;font-size:13.3333px">&gt;=C2=A0</span><span style=3D"co=
lor:rgb(0,0,0);font-family:&quot;comic sans ms&quot;,fantasy,cursive;font-s=
ize:13.3333px">The ability to retain this power for users is of prime impor=
tance and is arguably what gives Bitcoin most of it&#39;s value<br></span><=
span style=3D"color:rgb(0,0,0);font-family:&quot;comic sans ms&quot;,fantas=
y,cursive;font-size:13.3333px">&gt;=C2=A0</span><span style=3D"color:rgb(0,=
0,0);font-family:&quot;comic sans ms&quot;,fantasy,cursive;font-size:13.333=
3px">Any increase in the cost to run a full node is an increase in cost to =
maintain monetary sovereignty<br></span><span style=3D"color:rgb(0,0,0);fon=
t-family:&quot;comic sans ms&quot;,fantasy,cursive;font-size:13.3333px"><br=
>This power is far more complicated than just nodes.=C2=A0 You&#39;re imply=
ing that node operation =3D=3D political participation.=C2=A0 Node operatio=
n is only a very small part of the grand picture of the bitcoin balance of =
power.<br></span><span style=3D"color:rgb(0,0,0);font-family:&quot;comic sa=
ns ms&quot;,fantasy,cursive;font-size:13.3333px"><br>&gt;=C2=A0</span><span=
 style=3D"color:rgb(0,0,0);font-family:&quot;comic sans ms&quot;,fantasy,cu=
rsive;font-size:13.3333px">The ability for a user to run a node is what kee=
ps the miners honest and prevents them from rewriting any of Bitcoin&#39;s =
rules.<br></span><span style=3D"color:rgb(0,0,0);font-family:&quot;comic sa=
ns ms&quot;,fantasy,cursive;font-size:13.3333px"><br>No, it isn&#39;t.=C2=
=A0 Nodes disagreeing with miners is necessary but not sufficient to preven=
t that.=C2=A0 Nodes can&#39;t utilize a nonfunctional chain, nor can they u=
tilize a coin with no exchanges.<br><br>&gt; </span><span style=3D"color:rg=
b(0,0,0);font-family:&quot;comic sans ms&quot;,fantasy,cursive;font-size:13=
.3333px">What makes Bitcoin uncensorable<br></span><span style=3D"color:rgb=
(0,0,0);font-family:&quot;comic sans ms&quot;,fantasy,cursive;font-size:13.=
3333px"><br>Only two things - 1. Node propagation being strong enough that =
a target node can&#39;t be surrounded by attacker nodes (or so that attacke=
r nodes can&#39;t segment honest nodes), and 2. Miners being distributed in=
 enough countries and locations to avoid any single outside attacker group =
from having enough leverage to prevent transaction inclusion, and miners al=
so having enough incentives(philosophical or economic) 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:13.33=
33px"><br></span></div><div><span style=3D"color:rgb(0,0,0);font-family:&qu=
ot;comic sans ms&quot;,fantasy,cursive;font-size:13.3333px">Being able to r=
un a node yourself has no real effect on either of the two.=C2=A0 Either we=
 have enough nodes that an attacker can&#39;t segment the network or we don=
&#39;t.</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;,f=
antasy,cursive;font-size:13.3333px">&gt; </span><span style=3D"color:rgb(0,=
0,0);font-family:&quot;comic sans ms&quot;,fantasy,cursive;font-size:13.333=
3px">What gives confidence that the 21 million limit will be upheld</span><=
span style=3D"color:rgb(0,0,0);font-family:&quot;comic sans ms&quot;,fantas=
y,cursive;font-size:13.3333px"><br><br>What you&#39;re describing would res=
ult in a fork war.=C2=A0 The opposition to this would widespread and preven=
ting an attempt relies upon mutual destruction.=C2=A0 If users refused to g=
et on board, exchanges would follow users.=C2=A0 If miners refused to get o=
n board, the attempt would be equally dead in the water.=C2=A0 It would req=
uire a majority of users, businesses and miners to change the limit; Doing =
so without an overwhelming majority(90% at least) would still result in a c=
ontentious fork that punished both sides(in price, confidence, adoption, an=
d possibly chain or node attacks) for refusing to agree.<br><br>Nodes have =
absolutely no say in the matter if they can&#39;t segment the network, and =
even if they could their impact could be repaired.=C2=A0 Users !=3D Nodes.<=
/span></div><div><span style=3D"color:rgb(0,0,0);font-family:&quot;comic sa=
ns ms&quot;,fantasy,cursive;font-size:13.3333px"><br></span></div><div><spa=
n style=3D"color:rgb(0,0,0);font-family:&quot;comic sans ms&quot;,fantasy,c=
ursive;font-size:13.3333px">&gt;=C2=A0</span><span style=3D"color:rgb(0,0,0=
);font-family:&quot;comic sans ms&quot;,fantasy,cursive;font-size:13.3333px=
">What makes transactions irreversible<br><br>Err, this makes me worry that=
 you don&#39;t understand how blockchains work... This is because miners ar=
e severely punished for attempting to mine on anything but the longest chai=
n.=C2=A0 Nodes have absolutely no say in the matter, they always follow the=
 longest chain unless a hardfork was applied.=C2=A0 If the hardfork has ove=
rwhelming consensus, i.e. stopping a 51% attack, then the attack would be h=
andled.=C2=A0 If the hardfork did not have overwhelming consensus it would =
result in another fork war requiring users, businesses, and miners to activ=
ely decide which to support and how, and once again would involve mutual de=
struction on both forks.<br><br></span></div><div><span style=3D"color:rgb(=
0,0,0);font-family:&quot;comic sans ms&quot;,fantasy,cursive;font-size:13.3=
333px">Nodes don&#39;t decide any of these things.=C2=A0 Nodes follow the l=
ongest chain, and have no practical choices in the matter.=C2=A0 Users not =
running nodes doesn&#39;t diminish their power - 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>&gt;=C2=A0</span><span style=3D"color:rgb=
(0,0,0);font-family:&quot;comic sans ms&quot;,fantasy,cursive;font-size:13.=
3333px">The market is not storing 10s of billions of dollars in Bitcoin des=
pite all it&#39;s risks=C2=A0because it is useful for everyday transactions=
, that is a solved problem in every part of the world (Cash/Visa/etc..).=C2=
=A0<br><br>This is just the &quot;bitcoin is gold&quot; argument.=C2=A0 Bit=
coin is not gold. =C2=A0</span><span style=3D"font-size:12.8px">For someone=
 not already a believer, Bitcoin is a risky, speculative investment into a =
promising future technology</span><span style=3D"font-size:12.8px">, wherea=
s gold is a stable physical asset with 4,000 years of acceptance history th=
at has the same value in nearly every city on the planet.=C2=A0 Bitcoin is =
difficult to purchase and difficult to find someone to exchange for goods o=
r services.=C2=A0 Literally the only reason we have 10s of billions of doll=
ars of value is because speculation, which includes nearly all Bitcoin user=
s/holders and almost all businesses and miners.=C2=A0 While Bitcoin borrows=
 useful features from gold, it has more possible uses, including uses that =
were never possible before Bitcoin existed, and we believe that gives it hu=
ge potential.<br><br>The ability of other systems to do transactions, like =
visa or cash, come with the limitations of those systems.=C2=A0 Bitcoin was=
 designed to break those limitations and STILL provide the ability to do tr=
ansactions.=C2=A0 We might all agree Bitcoin isn&#39;t going to ever solve =
the microtransaction problem, at least not on-chain, but saying Bitcoin doe=
sn&#39;t need utility is just foolish.=C2=A0 Gold doesn&#39;t need utility,=
 gold has 4,000 years of history.=C2=A0 We don&#39;t.</span></div><div><spa=
n style=3D"font-size:12.8px"><br></span></div><div><span style=3D"font-size=
:12.8px">&gt;=C2=A0</span><span style=3D"color:rgb(0,0,0);font-family:&quot=
;comic sans ms&quot;,fantasy,cursive;font-size:13.3333px">Even if we fork t=
o 2MB, 5MB, 10MB. It is irrelevant in the larger picture, transaction capac=
ity will still be too low for global usage in the medium-long term.=C2=A0<b=
r></span><span style=3D"font-size:12.8px"><br>Which is why it needs to be a=
 formula or a continuous process, not a single number.<br><br>&gt;=C2=A0</s=
pan><span style=3D"color:rgb(0,0,0);font-family:&quot;comic sans ms&quot;,f=
antasy,cursive;font-size:13.3333px">Even if it fails to live up to the hype=
, you should not discount the market innovating solutions when there is mon=
ey to be made.<br><br>That&#39;s like saying it would be better to do nothi=
ng so someone else solves our problem for us than it would be for us to do =
what we can to solve it ourselves.=C2=A0 Someone else solving our problem m=
ay very well be Ethereum, and &quot;solving it for us&quot; is pulling Bitc=
oin investments, users and nodes away into Ethereum.<br><br>&gt;=C2=A0</spa=
n><span style=3D"color:rgb(0,0,0);font-family:&quot;comic sans ms&quot;,fan=
tasy,cursive;font-size:13.3333px">The additional capacity from blocksize in=
creases are linear improvements with very large systemic=C2=A0costs compare=
d with the userbase and usage which is growing exponentially.<br><br>The ca=
pacity increases do not have to be linear.=C2=A0 The increases in utility a=
re linear with blocksize increases, but so are the costs.=C2=A0 There&#39;s=
 no reason those blocksize increases can&#39;t be tied to or related to usa=
ge increases, so long as the concerns about having too few nodes (or too fe=
w fees) for security are handled.</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"><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 <span dir=3D"ltr">&lt;<a href=3D"mai=
lto:luvb@hotmail.com" target=3D"_blank">luvb@hotmail.com</a>&gt;</span> wro=
te:<br><blockquote class=3D"gmail_quote" style=3D"margin:0 0 0 .8ex;border-=
left:1px #ccc solid;padding-left:1ex">




<div dir=3D"ltr">
<div id=3D"m_-5222807063580840359divtagdefaultwrapper" style=3D"font-size:1=
2pt;color:#000000;font-family:Calibri,Arial,Helvetica,sans-serif" dir=3D"lt=
r">
<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;=C2=A0</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, ar=
e going to have different opinions and objectives from the users.<br>
<br>
&gt;I think you&#39;re conflating mining with node operation here.=C2=A0 No=
de users only power is to block the propagation of certain things.=C2=A0 Si=
nce miners also have a node endpoint, they can cut the node users out of th=
e equation by linking with eachother directly - something
 they already do out of practicality for propagation.=C2=A0 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-fami=
ly:&quot;Comic Sans MS&quot;,fantasy,cursive;font-size:10pt">You are only l=
ooking 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 wha=
t a Bitcoin is. It matters not how much hash=C2=A0power is behind a inflati=
onary supply chain=C2=A0fork, full nodes protect
 the user from the change of any properties of Bitcoin which they do not ag=
ree with. The ability to retain this power for users is of prime importance=
 and is arguably what gives Bitcoin most of it&#39;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 =
node is what keeps the miners honest and prevents them from rewriting any o=
f Bitcoin&#39;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&#39;s still dif=
ficult to grasp the above paragraph, ask yourself the following questions,<=
/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 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 confiden=
ce 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 transact=
ions 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&#39;t</span><span style=3D"=
font-size:10pt">=C2=A0miners making up majority hashrate who want bigger bl=
ocks 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&#39;s risks=C2=A0be=
cause it is useful for everyday transactions,
 that is a solved problem in every part of the world (Cash/Visa/etc..).=C2=
=A0</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"><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=C2=A0solvin=
g the problem. But all these=C2=A0debates 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 capaci=
ty from blocksize increases are linear improvements with very large systemi=
c=C2=A0costs compared with the userbase and usage which is growing exponent=
ially. Lightning potentially offers a
 couple or orders of magnitude of scaling and will make blocksize a non-iss=
ue for years to come. Even if it fails to live up to the hype, you should n=
ot discount the market innovating solutions when there is money to be made.=
</span></font></div>
<div dir=3D"ltr" style=3D"color:rgb(0,0,0)">
<div><br>
</div>
</div>
</div>
</div>
</div>
</div>

</blockquote></div><br></div>

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