Saturday, January 31, 2015

Bitcoin Bandwidth Scalability

Bitcoin generates more transactions per each customer. So fake numbers can become real for Bitcoin once it will gain mass adoption.

* Bitcoin should be used for microtransactions like 1 cent & should be free.
* Every person should have access for sending 1 cent even 1000 times per day
* Every teapot, every door, every dancefloor & every living & non-living creature must have a BTC address. No doors should be opened without BTC & no device should be used without BTC micropayment.

1TB per day is pretty possible scenario in case of worldwide adoption. Bitcoin is useful because you can microtransact with it.

But you won't have to worry if Bitcoin scales to this point if you're not willing to become Bitcoin core developer, because even if Bitcoin lacks some bandwidth, I can spend my Bitcoin to purchase that bandwidth. & if that bandwidth is expensive, at the time it will become mainstream, it will be possible to be covered by microtransactions.

So - more microtransactions means more bandwidth. More microtransactions is a luxury. Each small microtransaction uses bandwidth & each bandwidth are just an infrastructure. And infrastructure is just a one-time payment. If its a one time payment, that means that microdonations can easily cover that type of expense.

So problem here is not Bitcoin. Problem here is how do we scale the Internet to 1TB per day. I want access to 100 TB per day already now for making my city rich of Bitcoin microtransactions. I'm ready to pay this price even if its really expensive price. & I am getting my fiberoptics ready now, because I'm a qualified network engineer. I can find relatively cheap ways to scale to 1000 TB transactions per day. So don't worry about me or bandwidth. Do your own job, I will provide the rest.

I don't care how much space or electricity will be consumed for making sure the freedom for generations to come.

1 comments:

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