Bitcoin Cash, Memo, and the Public Goods Fallacy

Block Space as a Public Good

Blockchain Data Structure

Explaining what a blockchain is to lay audiences: “A database that stores everything forever — in other words: the most inefficient database on the planet.”

Why you don’t want a blockchain —
1. Storage: Everyone has to store everything
2. Bandwidth: Everything has to be broadcast to everyone
3. CPU: Everyone has to validate everything
4. Development: Everything is 10x harder
5. Control: Everyone collectively has control, not you

Extremely simplified diagram showing the connections between transactions in a blockchain

Alignment of Costs and Benefits

Future vision

Conclusion

“It never really hits a scale ceiling.”
— Satoshi Nakamoto [
12]

References

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