Quote from: nullama on December 30, 2022, 03:10:08 AM

The time to mine a new block is on average 10 minutes, independent of the number or speed of the miners, the difficulty gets updated roughly every 2 weeks to keep the time between two blocks roughly at 10 minutes.

So there's no such thing as the network becoming too slow.

Also, there's lightning which runs on top of Bitcoin and makes transactions almost immediate.

While you are correct about the time of block creation in bitcoin mining, that does not describe the time for transactions to be processed. For a transaction to be validated either quickly or slowly depends on the fee rewards for those transactions. Bigger transactions usually require larger fees, making them more attractive for miners to process. Smaller transactions with very small fees may wait a long time in the queue before being validated by miners. In 2024, when block rewards will be half what they are today, the miners will need to make up the loss by getting higher fees, or processing more large transactions than small ones in order to maintain their profits. So while the blockchain network may not be slower, the end-user wait time will be perceived to be much longer than it is now. I believe that will have an impact on users who want rapid transactions, not slow ones, resulting in less demand for bitcoins.

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