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No, the high transaction costs are because the blocks are too small. As the currency has grown in popularity the volume has increased but the blocks have not, t
by disordinary 9y ago
No, the high transaction costs are because the blocks are too small. As the currency has grown in popularity the volume has increased but the blocks have not, therefore the competition to get your transaction into the block has grown and market forces means prices have increased because of it.
Mining is incredibly lucrative.
- em3rgent0rdr 9y agoStill the argument that "high transaction costs are because the blocks are too small" doesn't conflict with the argument that there is no easy way to change the code running bitcoin's blockchain, and in fact the latter would allow the former.
- disordinary 9y agoIt's very easy to change. You just fork it.
- em3rgent0rdr 9y agoNo, forking bitcoin doesn't change the code running bitcoin's blockchain. Carefully re-read what I wrote: "no easy way to change the code running bitcoin's blockchain".
- disordinary 9y agoOf course it does, that's exactly what a fork is. Or, maybe the question is what is the bitcoin blockchain? The truth is there is no such thing.