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Could someone explain how is the blockchain going to maintain integrity and the transfer lag is taken into account "when" bitcoin is globally used everywhere an
by gerhardi 13y ago
Could someone explain how is the blockchain going to maintain integrity and the transfer lag is taken into account "when" bitcoin is globally used everywhere and thousands if not millions of transactions are happening every single second?
- wmf 13y agoBitcoin just doesn't support thousands of transactions per second, so that won't happen. Most likely people will be driven to use some non-Bitcoin system that is denominated in BTC (e.g. banks).
- 00rion 13y agoI'm curious about this too. Miners who maintain the blockchain will have to do more work for less bitcoins. If miners are earning less bitcoins, the value will have to continue increasing in order to encourage the miners to maintain the blockchain. At what point is this unsustainable?
- MattyRad 13y agohttps://en.bitcoin.it/wiki/Scalability#Storage https://en.bitcoin.it/wiki/Scalability#Storage