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Comment by iamastrangeloop | Hacker News Reader

There has been great progress in scaling the original protocol through the Bitcoin SV implementation:

  - Transaction fees are ~$0.0001
  - The network has shown capacity for 50k tps
  - On March 14, 2021, the network processed a world record 638 MB block
  - As of June 4, 2021 the chain size exceeded that of the BTC implementation and is currently 418.17 GB
  - New business based on micropayments have emerged like twetch, streamanity, peergame, etc

[1] https://www.prnewswire.com/news-releases/bsv-proves-that-bit...

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> - The network has shown capacity for 50k tps

No, that was a lab demo of a single beefy system being directly fed with test data and being measured on how long it takes to process it.

Everyone knows faketoshi is a fraud.

For anyone interested in the saga, Stefan Matthews, who worked with Craig Wright in 2007 and 2008 before Bitcoin was released, gave a couple interviews this past week adding new flavor to the story [1] [2].

[1] https://www.youtube.com/watch?v=k3ACmnUwsZ4

[2] https://www.youtube.com/watch?v=R03ypV9CsTc

Above is proof that the original bitcoin protocol can scale, and recently testnet can do 90k tps. What you think of certain people doesn't change the fact.

Its centralized and run by the people around this fraud. It doesn't matter if the tech is good since no one will use it for anything beside speculation or abuse it as storage which just wont be sustainable in the long run with no limits in place.

The protocol remains the original and it scales significantly. I'd focus on protocol not people. If people changed the protocol then it's no longer bitcoin.

Twetch.app has more than 50k users. It's also a genuine use case. So is etched.page or the other above-mentioned services.

How can you abuse storage if there is a 0.5 satoshis/byte fee to write data on chain currently? Miners are for-profit entities and will always charge for storage.

> I'd focus on protocol not people.

The protocol encompasses the nodes on the network. If the network is highly centralized the protocol is unsafe.

A scalable bitcoin ends up in a dozen data centers. The cost to set up such data centers is few hundred millions plus tens of millions in yearly operations. Miners must secure their infrastructure uptime to remain profitable. There is huge risk and little reward for any such mining company to act dishonestly on new blocks or break antitrust laws. Also it is easier for governments to audit a few large publicly traded miners than auditing thousands of small and inefficient miners. The nature of the bitcoin protocol security is economic.

You completely ignore my points so I will yours

Have a nice day

Which point specifically?

You claim centralized manipulation of bitcoin and fraudulent people while the protocol hasn't changed. Do you have legal evidence?

Also you claim price speculation as the only use case while I've listed several apps with real users.

You mention storage abuse and I argue that miner fees prevent that.

You can stop now dear green name we all can see you only joined to shill ButtcoinShitVison No one here cares.

There has been great progress in scaling on just about every other cryptocurrency, including many flavours of bitcoin. BTC is the only coin who finds scaling too difficult.

It does not scale, at the expense of centralization.

A centralized cryptocoin is just MySql with extra steps.

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