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> Bitcoin was not designed to be a high-throughput currency. It's a store of value. I think you should spend some time reading https://bitcoin.org/bitcoin.pdf
by meritt 9y ago
> Bitcoin was not designed to be a high-throughput currency. It's a store of value.
I think you should spend some time reading https://bitcoin.org/bitcoin.pdf https://bitcoin.org/bitcoin.pdf before making factually incorrect statements. Bitcoin is only viewed as a store of value today because it no longer can be utilized for its original purpose. It's a complete failure in that regard.
- sillysaurus3 9y agoThe whitepaper lays out the current predicament quite well. > The incentive can also be funded with transaction fees. If the output value of a transaction is less than its input value, the difference is a transaction fee that is added to the incentive value of the block containing the transaction. Once a predetermined number of coins have entered circulation, the incentive can transition entirely to transaction fees and be completely inflation free. I think most people who read the paper focus on the early parts, rather than gaming out the implications of the later parts.