Author: Mike Hearn 2015-06-19 09:37:34
Published on: 2015-06-19T09:37:34+00:00
The writer mentioned that it is impossible to fix the negative experiences of users with full blocks. This is because if Bitcoin does not have enough capacity for everyone's transactions, some users will be kicked out to make way for others. The current code causes this to happen in a chaotic way, and some users may find their bitcoin savings uneconomic to spend. The writer provided a recent user complaint where a user had to pay over 10 network fees to send $2.82, leaving them with $2.50. The writer predicts that these complaints will become more frequent and extreme in the coming months. They acknowledge that nobody at Blockstream runs an end-user facing service, but they urge everyone to consider the potential anger of ordinary users as Bitcoin hits the wall.
Updated on: 2023-06-09T23:29:41.189539+00:00