Re:Bitcoin passes 10,000 USD
by CryptoPunk on Wednesday November 29, 2017 @07:36AM
(#15806289)
>>Guess what has to happen to maintain or increase value transfer when you have reached a limit on blocksize.
Ding ding ding! You guessed it!
No, the price rise is not in any way conditioned on the block size being limited. Whether $1 billion worth of coins is being moved via 1 million or 1 thousand txs has no bearing on what the per coin price has to be. All that matters is the value moved and the number of coins doing the moving.
>>The utility has not degraded and just looking at 'number of transactions' is not useful.
Being limited to larger value transactions with higher fees hugely degrades utility.
No, the price rise is not in any way conditioned on the block size being limited. Whether $1 billion worth of coins is being moved via 1 million or 1 thousand txs has no bearing on what the per coin price has to be. All that matters is the value moved and the number of coins doing the moving.
>>The utility has not degraded and just looking at 'number of transactions' is not useful.
Being limited to larger value transactions with higher fees hugely degrades utility.