8 ms·
One target for transactions is about 4,000 transactions/second. If they reduce the confirm time to 60 seconds like DogeCoin, then we are looking at about 240,0
by ghshephard 12y ago
One target for transactions is about 4,000 transactions/second. If they reduce the confirm time to 60 seconds like DogeCoin, then we are looking at about 240,000 transaction fees per block. Figure $0.10/transaction, that's about $24,000 per block. Right now it's 25 * $600, or $15,000 block - so, I can see there being a future on transaction fees on Bitcoin Alone.
But - there are a lot of other really interesting applications that can be run on the block chain, and I can see people willing to pay much greater transaction fees than $0.10 to get their transaction recorded on the block chain - so plenty of interesting opportunities.