Quote from: Z-tight on August 23, 2024, 06:59:44 PM

Quote from: mpoletiek on August 23, 2024, 04:35:05 PM

Wait... so when demand for blockspace goes up, fees go up is a part of the design. I get that.

But so high that it can't scale to support a global p2p economy?

BTC is still a great option for p2p payments and tx's, especially for cross-border payments and sending money to people on the other side of the world, with just their BTC address. It is true that fees can go high, like it happened when ordinals and runes tx's were filling up the BTC blocks, but things like that can only be temporary. The thing is, we cannot change the way the network is designed, if there is a demand for block space, tx fee is going to go up and miners will prioritize tx's that pay the higher fee.

It was temporary because it couldn't continue. The demand couldn't handle the cost.

So how does this scale again?