I have this theory that the 1MB limit is actually a poison pill that will eventually destroy BTC once the block reward is not enough to sustain miners and fees are so high no one can afford to transact. If its not worth it to mine and hashrate drops significantly, it could cause a crisis like in 2017 where no blocks get mined for a long time and confidence drops, but this time much bigger and now institutional money is the only thing propping it up. If the crash happens at the right moment it could bring down all of the institutions that are deeply invested.
I suspect BlockStream would try to solve this crisis by forking BTC to a proof of stake model like they did with ETH and cut out miners completely, but if they did that the miners would just switch to mine BCH and BTC maxis would have to grapple with that.
Ouf, that's a take I have not thought of before. I like the way you think. There have been increased shilling towards POS over the past and they also have the mentality that miners should just bend the knee to perceived authority anyway.
Lightning also need a certain amount of blocksize to function also as described in its technical paper, so it being a big factor in the self destruction is just very fitting. That would really explode BCH in every way. It would definitely handle it with the usage based block size adjustment in place.
I have this theory that the 1MB limit is actually a poison pill that will eventually destroy BTC once the block reward is not enough to sustain miners and fees are so high no one can afford to transact. If its not worth it to mine and hashrate drops significantly, it could cause a crisis like in 2017 where no blocks get mined for a long time and confidence drops, but this time much bigger and now institutional money is the only thing propping it up. If the crash happens at the right moment it could bring down all of the institutions that are deeply invested.
I suspect BlockStream would try to solve this crisis by forking BTC to a proof of stake model like they did with ETH and cut out miners completely, but if they did that the miners would just switch to mine BCH and BTC maxis would have to grapple with that.
Ouf, that's a take I have not thought of before. I like the way you think. There have been increased shilling towards POS over the past and they also have the mentality that miners should just bend the knee to perceived authority anyway.
Lightning also need a certain amount of blocksize to function also as described in its technical paper, so it being a big factor in the self destruction is just very fitting. That would really explode BCH in every way. It would definitely handle it with the usage based block size adjustment in place.