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rogerver
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Bitcoin blocks are fuller than they've ever been before.

Fri Apr 29, 2016 12:07 am

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LiteCoinGuy
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Re: Bitcoin blocks are fuller than they've ever been before.

Fri Apr 29, 2016 10:13 am

while this is true for alot of blocks, keep in mind that the average transaction fee is only 4cents at the moment.

http://bitcoinfees.21.co/

SW and LN should give us more room to breath after the launch.
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rogerver
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Re: Bitcoin blocks are fuller than they've ever been before.

Fri Apr 29, 2016 1:32 pm

If 100% of wallets adopted SW right away, and all transactions were then SW transactions, that would still only buy us a few extra months. LN is still likely more than a year away.
The 4-5 cent fee has already priced services like birds.bitcoin.com into the realm of no longer being practical on the Bitcoin network.
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LiteCoinGuy
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Re: Bitcoin blocks are fuller than they've ever been before.

Fri Apr 29, 2016 6:22 pm

i agree with you that the devs are late with solving that problem. more foresight would be better :oops: - but these are the talented devs in the world when it comes to bitcoin and we cant change to another fork in my opinion (atm).
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inBitweTrust
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Re: Bitcoin blocks are fuller than they've ever been before.

Sat Apr 30, 2016 9:26 am

If 100% of wallets adopted SW right away, and all transactions were then SW transactions, that would still only buy us a few extra months. LN is still likely more than a year away.
The 4-5 cent fee has already priced services like birds.bitcoin.com into the realm of no longer being practical on the Bitcoin network.
The expectation is to always be running at full capacity and to push micro txs or low fee on payment channels instead. During the "stress tests" it confirmed our suspicions that running at capacity with a dynamic fee calculation works fine and fees only slightly increased to get into the next block.

So I agree with you that extra block space will quickly be filled up but I don't view this as a negative scenario as those low fee tx should be on 2nd layer services like LN , payment channels or handled off the chain.

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