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0 sats \ 1 reply \ @ek OP 18 Dec 2023 freebie \ parent \ on: Will Bitcoin Fail to Scale? (2016) bitcoin
The problem is that failing to scale on the internet means that we throw a NAT in front of everything and need to upgrade some cables.
I disagree. I don't think NAT was the only thing that was necessary. Afaik, NAT only became a thing when the Internet failed to scale so hard, that we actually did run out of IPv4 addresses because no one realized in the early days that we would connect even our toasters to the Internet and not just 10 machines (need to find that hilariously wrong prediction but I believe it was from Robert Metcalfe). And everyone realized that we fucked up so hard with our predictions about Internet adoption that also the migration to IPv6 is going to take way too long. So we're basically stuck with IPv4/IPv6 dual-stack. But the Internet still works, right?
Fialing to scale bitcoin means we could end up with the fiat system all over again where everyone needs to use trust based solutions. Since consensus is global, soft forks are a lot harder to coordinate, much different than updating to fiber optic
Interesting take. I haven't looked at it this way yet that scaling bitcoin is going to be much harder than the Internet. Need to do more research regarding that. I would say I have more knowledge about Internet history than actually about Bitcoin history, lol
But I still believe that "failing to scale" is a good thing, do you not?
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15 sats \ 0 replies \ @benthecarman 18 Dec 2023
But I still believe that "failing to scale" is a good thing, do you not?
it is definitely champagne problems, but we don't want champagne problems when we only have a few million users
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