Bitcoin softforking to smaller blocks. The plan is very see through.

This new campaign of softforking Bitcoin from 1MB to 300K blocks seems pretty see through. I don’t know if it’ll go through, but the outcome is obvious.

So BTC TX count is still going up and soon fees will jump from pennies to dollars and double digits dollars as Bitcoin’s blocks simply won’t keep up with the volume. Users will point out the fee issue again… yeah Bitcoin sucks because of high fees, Segwit has done nothing, LN is too hard to use. But if they softfork proactively before these fees hit, users will still complain but will be addressed probably with some comment of yeah… “We purposely lowered blocksize, so yes naturally fees will jump to support Bitcoin’s future” and will be seen as an explicit move to do so and not as developer incompetence/Blockstreams throttling of Bitcoin. A great way to mask Blockstreams incompetence/intentions.

Then they’ll probably pop champagne again and say how fees is what keep Bitcoin alive, etc etc.

submitted by /u/500239
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Source: https://www.reddit.com/r/btc/.rss?format=xml

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