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by nmj
3123 days ago
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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! The price must rise. The utility has not degraded and just looking at 'number of transactions' is not useful. Just because I can move some arbitrary number of units in a given timeframe does not mean my unit is more valuable. Banks can move way more than 600k USD transfers in a day. |
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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.