| > I wrote down my understanding of bitcoin and influence of the block size as a train analogy. Here it is for you to make fun of: You and people like you think I am making fun of you because you are flatly wrong about so many things in the space, and seem to have no idea that you have been conned. I'm not making fun of you at all, I'm pointing out the ways in which you are wrong. > You can even bid 0 coins and get on the next train for free if not enough people outbid you. Wrong, you can have an empty block with bids in the mempool below the threshold which miners are willing to incorporate, and they still don't get into the block. You don't magically get into the block on a zero bid just because it's not full. > Making train go is the cheap and easy part. What’s expensive is securing it from robbers that could disrupt the service and tank the value of the coins. Wrong, on the security front we have proof of work output in the ~800k USD equivalent every hour range, on the actual functionality front, the primary chain has been sabotaged to be so dysfunctional it barely matches a fax machine in raw throughput, this is equivalent to a depleted uranium armoured rail car with a convoy of tanks as an escort, but it's only 5x5 inches and it runs on a mousewheel. Other node software not subject to the BTC sabotage runs enormously better, things like flowee the hub getting up into tens of thousands of validated transactions per second on commodity hardware, but they're so poorly adopted as to be basically unknown. In terms of deployed infrastructure, we're stuck with the 5x5 mousewheel pushcarts because of the BTC sabotage. > Since operator intends to emit a predetermined number of coins in total it has to periodically lower Miners&co reward for each train secured. Wrong once again, there's no "has to" about it, the emission schedule could have been a completely linear flat rate. It was chosen to be a steeply declining curve to bomb the project if it turns out not to actually be a useful service for which people are actually willing to pay, that is, uptake and increased usage is intended to make up for the lost value of the decreasing block reward. The steeply declining curve ensures that the interests of all the maintainers of the Bitcoin network are aligned, as only an insane fool would ever try and actually sabotage the network to be dysfunctional knowing that this would be the inevitable fate if they did. The BTC sabotage turns this on its head and assumes that instead scaling should be crippled on purpose, and an artificial limit should be forcibly imposed in order that the supply quota can hopefully address the diminishing block reward over time. This, like basically everything else in BTC, is extremely, indescribably stupid. The inevitable fate remains the inevitable fate for the aforementioned stupidity. > There’s a risk that the price of the coins won’t grow fast enough and securing trains will get less and less profitable for Miners&co and they will secure trains less and less until train line falls victim to the robbers. Wrong, because the price of coins is not the only variable that dictates how much security is invested into each block. BTC simply attempts to force it to be so for no good reason and this is transparent sabotage. > Operator could do that at no cost, because running trains of any size is the cheap and easy part. Wrong. Operator alone does not get to choose to do that period, a block limit of x does not imply a block floor of x, miners can and do still choose to emit blocks significantly below the block ceiling. The entire rest of your analogy collapses because it based upon these incorrect assumptions. |