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by Medicineguy
1945 days ago
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For completeness sake: The BTC network is, by design, setting the difficulty of mining a new block so that its 10 min on avg. Currently there fitting ~2200 transactions in one block [0]. That makes 3.6667 transactions per second. BTC needs a hard fork in order to increase this dramatically. So you were actually quite generous with 10 transactions per second... [0] "Blockchain Charts" https://www.blockchain.com/charts/n-transactions-per-block |
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Which was proposed, and shot down by core Bitcoiners.
They aggressively do not want to increase the transaction limit.
Miners want transactions to be expensive, because that's where they'll get their money when the mining reward falls again.
It's mind boggling that people will complain about banks conspiring to charge them hypothetical fees, then rush to use a cryptocurrency that has double-digit transaction fees when nobody is really using it for anything other than speculation. The reality is that Bitcoiners don't actually want people using Bitcoin as a currency, they just want you to buy and hold. No selling, no spending, just buying. That's the only thing that drives the price up, and that's the only thing they want you to do.