Author: Benjamin 2015-06-19 09:53:01
Published on: 2015-06-19T09:53:01+00:00
Increasing block-size is not a long-term solution for Bitcoin. Higher fees are necessary to match supply and demand as subsidies decrease. At the beginning, miners were paid with new coins at the expense of those who already hold coins, making Bitcoin essentially free to use. However, as subsidies decrease, there needs to be a mechanism to match supply and demand. The current code will cause some users to find their Bitcoin savings uneconomic to spend, and complaints like these will become more frequent and extreme in the coming months. This could result in anger from ordinary users as Bitcoin hits the wall.
Updated on: 2023-06-09T23:28:13.905884+00:00