Bitcoin needs a 10mb block size
I know this will angry the blood of some people the whole scaling and increasing the block size debate has been going on for some time now. A few months ago the cashening nearly happened this is where Bitcoin cash over takes Bitcoin i actually watched it live it was pretty crazy Bcash when to about $3800 and Bitcoin dropped to around $4500 then quickly reversed and alot of people lost money. All this happened because Bitcoin was ment to hardfork to a 2mb block size but was canned at the last minute and Roger Ver used it as a opportunity to pump Bcash. The hard fork was canned because everyone was arguing about how the bigger block size would make bitcoin more centralised.
Atm Bitcoin with segwit can do around 10 transactions per second with the 1mb block size. If they raise the block size to 10mb Bitcoin should be able to do around 100 tps. Why bitcoin needs bigger block size and how it wont really make it more centralised. The reason people say the bigger block sizes makes it more centralised is because to mine BTC you have to download the entire history of the ledger and the bigger the block size the larger that download is. I dont normally agree with Roger Ver much but he makes a good point that technology will become cheaper meaning that having a bigger blocksize wont matter. Considering to mine Bitcoin atm you need to spend thousands if not over 10k on the latest hardware to make decent profits adding a bigger hard drive isn't going to break the bank. We are talking about an extra 100 to 200 dollars here.
I dont think raising the block size is a long term solution but it is a short term solution that Bitcoin desperately needs, it will buy BTC some time until Lightning Network is out. If we go through anther bull run and translations go to 50 dollars again Bitcoin will look old and be in serious trouble with all the new coins. transaction cost cant go above 1 dollar again and considering people wont be using Bitcoin as money for years to come the bigger block size will get it though no problems.
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Hello!!! You are right, I agree... it's time for renovations...!!! Upvoted, thanks for upvoting my last post, have a nice day always!!!
haha yes it is