Post
Topic
Board Bitcoin Discussion
Re: Bitcoin miners worth more than $150M have just been bought up by two firms
by
20kevin20
on 19/03/2021, 23:01:49 UTC
let's hope that the transaction fees will improve as well as the duration of every transaction. We need more of them so people will stop complaining about high fees in the regular bitcoin network.
Since the blocks still get confirmed every ~10 min and the block size remains the same, a higher number of miners does not mean more txs will go through. This is a scaling issue that has nothing to do with how many people are mining. Be it 1 or a million miners, the same max size of txs will get confirmed every single block.