Post
Topic
Board Development & Technical Discussion
Re: Now that we've reached the 250kb soft limit...
by
misterbigg
on 07/03/2013, 03:52:35 UTC
At step 13, transactions (and the fees they would have paid to miners) are fleeing bitcoin in droves.

I'm not saying that Bitcoin will shrink, I'm saying that it will reach an equilibrium where there is no more growth in terms of new users operating directly on the block chain. Instead, there will be an industry of companies that do things off the block chain and settle up once a day or every few hours. Of course miners would love that, since the fees will be maximized. And anyone using Bitcoin as a store of value will be happy with it as well, since the network hash rate will be maximized.