Post
Topic
Board Bitcoin Discussion
Re: Mempool Observer Topic
by
BlackHatCoiner
on 02/02/2024, 15:12:49 UTC
So you think that if you buy a $2 coffee in Starbucks this transaction should be registered in all computers running bitcoin in the world? Inegociable?
In general, micro-transactions shouldn't happen on-chain for the single reason that they are impractical, at least under this block size. Ideally, micro-transactions should happen off-chain, not because I say it, but because it is not sustainable; people would rather not pay more than their coffee for a transaction fee.

I don't think we are going to reach $1k transaction fees, but if that ever happens, then Lightning Network is standing ready.
If fees reach $1k, then nobody apart from millionaires will open lightning channels.