We are nowhere close to "everything will suck soon" tm. You guys have been saying that for a year now btw.
Actually several years. We've been repeatedly pointing at the same stupid, unnecessary hard ceiling, and pointing out that the inexorable trend of increasing transactions has us on a clear intersect.
In the meantime, we have recently gone from things never sucking in regards to capacity, to things sucking for brief flashes of time. The issue is not how much one needs to pay to get a transaction through, the issue is that with the current block size,
no more than about 350,000 transactions can be processed in a day. Period. No matter how much money is thrown at the transactions.Actually, it's more like 230,000 per day. Source:
https://oxt.me/charts (Look at the maximum tx volumes in December and January).
Actually, it's more like 500,000 per day after segwit is implemented in April.
And how many transactions are low value (uneconomic elastic demand) that will drop off when the spam limit comes into effect?
http://rusty.ozlabs.org/?p=500And how many are actually responding to the nascent fee market?
http://rusty.ozlabs.org/?p=564And not as many transactions are actually "stuck" because of block limits but rather bad wallet software not broadcasting correctly ...
http://rusty.ozlabs.org/?p=573Edit: let's keep our numbers fact based shall we? Pulling magic constants out of bottoms is bad engineering, but maybe good politics.
as soon as BitcoinPure is released next tuesday bitcoin will finally be fixed.