>Don't forget that there is a cap on the number of transactions that the blockchain can process in a given amount of time (IIRC it's like 7 transactions per second).
7 transactions per second is an arbitrary limit that was imposed to keep things manageable, because Bitcoin is a beta, an experimental system. Transaction fees may rise for the reasons you've described, but referencing the '7 TPS cap' as if it is a real limit makes the situation look far worse than it is.
7 transactions per second is an arbitrary limit that was imposed to keep things manageable, because Bitcoin is a beta, an experimental system. Transaction fees may rise for the reasons you've described, but referencing the '7 TPS cap' as if it is a real limit makes the situation look far worse than it is.
https://en.bitcoin.it/wiki/Scalability