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> One thing is certain, and that is economics will force a change in how we actually use the main Bitcoin blockchain. In the future, using the primary chain wil
by tromp 9mo ago
> One thing is certain, and that is economics will force a change in how we actually use the main Bitcoin blockchain. In the future, using the primary chain will feel a lot more like sending a bank wire transfer. It will become the settlement layer where only large, high-value transfers take place, because the transaction fees will be too high for anything else.
This makes the unwarranted assumption that there will still be a large backlog of txs, which is what makes people pay higher tx fees to get their tx processed faster. But as soon as that backlog clears, people will go back to paying minimal fees. There is no future where txs remain extremely high for more than a few months at a time.