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The only thing that remedies this is the fact that the Satoshi maybe be divisible in the far future. (Code + protocol change) I believe this is a major limitin
by josephagoss 13y ago
The only thing that remedies this is the fact that the Satoshi maybe be divisible in the far future. (Code + protocol change)
I believe this is a major limiting factor for long term dominance, this is my list of things that need attention in the next few years:
- Make the units super divisible, Transaction fees will help to stop people sending silly stupid small amounts of coin.
- Allow unspendable dust to evaporate and return to the miners.
- Keep working on CoinJoin and ZeroCoin.
- Transaction costs are too high. These fees need to be much lower.
- Amount of transactions, we need Bitcoin to be able to handle 10,000 tx per second without this causes centralization problems.
- celticninja 13y ago- Allow unspendable dust to evaporate and return to the miners. But surely by the time we get to the point where adoption means each satoshi is worth say $1 or 1 cent then this dust will no longer be dust so why shoud it be unspendable? Of course the bigger issue will be the 1000's of coins that were mined and have subsequently been lost, e.g. 7500 coins in a landfill site in Wales (perhaps that will become the equivalent of a gold mine with only one tiny bit of resource at the bottom).
- shawabawa3 13y ago> so why shoud it be unspendable? You can send money to accounts which are provably unspendable. It's a public key that provably has no private key. Some people send satoshis to these addresses to store data in the block chain