Hi Roger. What would you say is the major downside of doing it off chain? Just added complication? Or something worse?
I think it's hard to know how much TPS you'd truly need.. 1K, 2K, and 10K seems like it would just be scratching the surface. If Visa does 2K, then all credit cards would be what maybe 5K?
Add in China and Africa and all the unbanked.. and now things like employers sending salary over to employees.. you owe your friend 20 bucks.. here's my rent money.. yadee yada, every use case out there for a transfer.. spammers and population growth.. I don't know, I don't think Visa has a lot to do with the amount of TPS you'll actually need.
Not saying I think there's no way to do it on chain. (I personally have no idea. Just a rube trying to wrap my head around it.) Just that what amount we need seems borderline unimaginable, like you have to be ready for basically any number.
And so if it's the kind of thing where it's hard to perfectly know whether you can meet the volume.. to me it seems like avenues of doing it off chain gives it some pliability and cushion.
I guess in my mind, whether it's BTC or BCH, off chain seems like it will need to be a thing either way? is my point/question.
Thanks.
Interesting points.
Firstly, I don't think either BTC or BCH will ever take the whole market. There will be a whole range of coins and tokens used for various transactions.
Second, I've heard @rogerkver say a few times that he is happy to support a second layer solution for BCH if and when it is ready. At the moment, lighting network looks like a great idea, but not ready for primetime
@kabir88
Thanks for the info and feedback.
Cool. So it isn't about never wanting an off-chain layer, but I suppose more just that he wants the built in TPS to be as high as possible.
Why do you think that?
Some people may want privacy, so if Bitcoin doesn't build a way to do that, then maybe Monero wins a little share.
But outside of that, transactions don't usually necessitate that the money has different properties. Whatever is the best way to pay for a tomato should usually be the best way to pay for a bicycle. So people should prefer whichever has the network effect.
It may take a while to settle and reach the long-term conclusion. And always someone somewhere will accept whatever. So technically I imagine you're right in the sense that it won't be 100%. But I think it becomes the brunt of it, over time.
[Meaning, as far as payment/transfer goes. Not disputing that Steem and other blockchains can succeed at doing things outside of payments.]
Great question, it's long to explain. Let me see if I can do a video as it will be quicker
Here you go
https://busy.org/@kabir88/1d600c80-8572-11e8-adb2-bf4283a63cb9
nice! I'm gonna give it a look.