Post
Topic
Board Bitcoin Discussion
Re: Bitcoin is too slow
by
b0art
on 15/06/2016, 16:21:16 UTC
"Just pay a higher fee" isn't a proper solution though, if we would all pay the recommended fee, than that fee would keep on increasing, because there can only be so many transactions in a block, eventually the fee will become high enough that people will start to move over to other blockchains with proper scaling solutions.

Quote from: /u/Vibr8Kiwi
You can't fix a capacity problem with fees. If there are only 20 seats on the bus and 25 people that want to ride there is no ticket price where everyone gets a seat. You don't even know how much you have to over pay to get a seat. This is a bus business where customers are going to leave... especially when they discover there are many alt-bus companies that do the same thing better and for less and without capacity restraints.

i never thought of it like this but then why has there because such a crazy spike in the mempool graph in last day or so? it's not like everyone woke up and decided to start paying higher fee

https://bitcoinfees.github.io/#1d