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RE: Bitcoin activity approaching all time high levels!
Biggest problem I see with Bitcoin is the time between blocks... It's way too large a lot of times... That means blocks grow huge and processing them take a lot of I/O power (both disk and network I/O)... Network congestion is caused by that huge amount of traffic travelling between nodes. Bitcoin needs to do something to limit block difficulty so smaller nodes can also mine blocks, not just large mining farms.
Limit block difficulty or decrease time between blocks?
I think decreasing (target) time between blocks directly affects block difficulty and vice versa... As far as I know, miner luck will also affect time between blocks. I've seen with some coins really low and really high miner luck numbers that screw up any existing difficulty calculation formulas.
Hard fork needed for that though... not something the bitcoin core development team is keen on...
I know... That's why there is so many Bitcoin forks already...
Though the core group rarely adopts the new chain...
That's pretty much because almost no big players trust the people behind the new chain/fork... If Satoshi Nakamoto would resurface and endorse a new fork, then something might happen, but that is more unlikely than winning grand prize in lottery four times in a row...
Haha that is a very good point. Actually both of them were good points!