Author: Thomas Zander 2015-07-30 14:52:40
Published on: 2015-07-30T14:52:40+00:00
In a Bitcoin-dev email thread on July 30, 2015, Jorge Timón argued that even if lightning was never developed, the block size would remain at 1 MB forever and fees would rise to $10 per transaction. He went on to say that such high fees would still be very competitive compared to non-decentralized payment systems that have proportional fees. In response, Thomas Zander questioned how Bitcoin could survive when transaction space is so limited and paying $10 to be included becomes the norm. Zander suggested that Bitcoin could be outcompeted and replaced or eventually become worthless.
Updated on: 2023-06-10T04:15:55.277919+00:00