Post
Topic
Board Development & Technical Discussion
Re: BRC-20 needs to be removed
by
larry_vw_1955
on 22/05/2023, 08:30:30 UTC

I'm genuinely curious how Bitcoin will see global adoption in this case if 500k extra transactions are "hurting" the network that badly.
I've seen numerous threads about how Bitcoin has 100-200 million users worldwide, now, the simple question is, what will happen if every single on of them would want to just do a transaction? 
well that would mean the mempool of unconfirmed transactions would be huge. how big? well, assuming the lower end at 100 million users and say the average transaction size is 500 bytes. Then we would be looking at 50,000 MB mempool or 50GB. It gets worse though. Assuming the often quoted 7 transactions per second, and assuming a transaction would stay in the mempool until it got confirmed (which is not the case obviously) and everything worked on a FIFO basis, people could expect their transaction to clear in about 82 days. That's over 2 months. Slower than the US Postal Service by orders of magnitude. But still more reliable... Shocked

Quote
What do we do then to bring the fees down?
- we ban mixers and tumblers?
- we ban consolidations?
- we ban tx between 0.04645 and 0.38651 ?
- we ban tx sent any other time than between 8-16 during weekdays?

Or, and bear with me on this horrendous idea, we adapt?

Well yeah, don't send as often. Maybe wait for times when fees are lower. That's about all you can do.