volume? higher volume = lower fees, I don't know enough about the actual model to make a useful contribution to it, but it does strike me to be a "trial by fire" scenario, if BCH has to scale to stupendous scale or it dies
fees are low enough. visa and mastercard raised their fees. so bch tx is cheap as fuck. that's not the problem. what bch needs is DIRECT payment to major players for goods and services....especially frequent stuff. mcdonald's, starbucks, amazon, ebay....that creates enough tx volume
90 mil transactions a day is 23gb a day and would need at least 160mb blocks to accommodate it
It's likely definitely doable. The coin I don't want to name has gigabyte blocks full of cat pictures. There's just no reason to do it right now.
The 90 million transactions would be needed just to reach $500,000 a day in fees; last year BTC would have between $1 million and $16 million a day in TX fees . It just seems like we're never going to catch up TX fee wise if we only scale volume
Are you suggesting that BCH can’t scale as a currency for the word?
The elephant in the room is, what level of security do we even need? Neither BTC nor BCH ever answered that question. But it defines how much hashrate you want and how much you are willing to pay or change the fees to achieve that. BCH just assumed it needs BTC level of hashrate. But BTCs hashrate is blown up by the price hike during coinbase reward phase.
🙄🙄 don't be the annoying kid at the adult table, please.
Will the block need to increase at a point of usage /transaction ?
ASICs will get faster, pools will get larger. If we want to protect BCH then I think some people in the grand scheme of things will need to pay higher fees because I just don't see 100 million transactions a day being likely within a few halvenings
higher fees isnt the answer, its making the chain able to do more, which is being worked on.
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