More research should be done on bitcoin users usage for a clearer understanding on scaling.

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A lot of discussion seems based on what people perceive people are using bitcoin for or what they perceive Satoshi Nakamoto intended. This seems counter intuitive. If there was more data on how people were using their bitcoin and the blockchain, there could be a better understanding on the best way to move forward. Arguing about the past or the future will undoubtedly lead to negative effects if they differ vastly from the present.

There seems to be very little sampling done on this. How often does the average user send bitcoin from wallet to wallet? What are their purposes for doing so? What is the value of the tx?

For example, I use it largely for remittances and a speculative asset. $0.30, $0.50, $1.00 fees are irrelevant from my view point. The time it takes for confirmations are also not important for me. In a hypothetical situation, if the majority of users used bitcoin likewise then they should be protected most while trying to add additional use cases. For me, SegWit is clearly the answer with other functions added in due time, with security and immutability the most important factors. Making changes which go away from this will simply lead people finding a better solution.

This could be the case if the opposite is true. If 90{88c91daedd271a990a10650c05d769cae2765e0603edf30ca95f18704e5748e8} of people are using bitcoin to send $3.00 to a friend, then the increase of fees is a lot more detrimental, indicating more focus on this would be more beneficial while medium and long term could be focused on other attributes.

submitted by /u/JupitersBalls69
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Kryptous

Crypto Coins News - Ratings - Reviews

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Ticker

1 BTC = $35923.01 USD  (via Coinbase)
1 ETH = $1148.64 USD  (via Coinbase)
1 LTC = $139.80 USD  (via Coinbase)
Quotes delayed up to 2 minutes.

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