Flaws in Bitcoin make a lasting revival unlikely

Re:Flaws in Bitcoin make a lasting revival unlikely by homakov on Thursday March 28, 2019 @01:45AM (#19509589)

With 1m tx per day you need 3 weeks to close 21m channels. Reasonable for a protocol bug. If just one hub goes down however, it will sort out in a few days. Like I said it only should cater to economic majority aka 1% so 70m wealthy users need 2 months.

Btc’s current limits are far from optimal but layer2 itself is working great especially on other chains.

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Re:Flaws in Bitcoin make a lasting revival unlikely by imtringued on Thursday March 28, 2019 @09:39AM (#19512054)

Your numbers are incorrect. 1m transactions per day is almost twice as fast as the theoretical capacity of Bitcoin. (~600k transactions per day assuming 7tps)

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Re:Flaws in Bitcoin make a lasting revival unlikely by homakov on Thursday March 28, 2019 @12:50PM (#19514014)

I was citing eth's ones. Bitcoin is a poor platform for doing layer2 due to unfixable restrictions. What matters is it's about 600k~1000k (not 100m) and even with these it supports quite a lot of users. Supporting more than 1% is desirable but not mission critical.

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Re:Flaws in Bitcoin make a lasting revival unlikely by not-satoshi on Thursday March 28, 2019 @04:20PM (#19516184)

That's not Bitcoin. Bitcoin is electronic cash for everyone on the internet. See www.bitcoin.com/bitcoin.pdf

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Re:Flaws in Bitcoin make a lasting revival unlikely by homakov on Thursday March 28, 2019 @06:20PM (#19517201)

Flaws in Bitcoin make a lasting revival unlikely. Layer2 is better deployed on new chains, while discussing poor bitcoin life choices leads us nowhere.

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