Post
Topic
Board Development & Technical Discussion
Re: Block Size Scalability Issues
by
Saxscraper
on 29/08/2018, 18:11:21 UTC
Thanks everyone for contributing your thoughts in a respectful manner. It is a lot of information and I wasn't really sure where to start. I will look into the segwit block increase and do more research there.

However, people are pointing out issues about you can't use current rates for the fees. All the 2nd layer technology stuff like the lightening Network is only going to reduce fees drastically. Which means we will need even more transactions to pay as the block reward diminishes. It only validates what I am saying. If transaction fees drop to .02-.05 it will take many more to make the same amount of money for the miners than the current .57 transaction fee. 4mb block will not even be close.

These issues are still down the road a bit, but look what happened in December when the price shot up. Fees went through the roof, mempool back up grew, and business started dropping Bitcoin payments going into the new year. It is still early, but major adoption with the current setup would be fun to watch.