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by sida
4124 days ago
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To build a bit more context, there are a lot of talks about how Bitcoin will: - Replace youtube in the form of a decentralized video platform
- Decentralized Spotify
- Decentralized Uber A google search of DAO (Decentralized Autonomous Organization) and you will find many many people talking about that. The thesis is that, no Bitcoin won't decentralize all these intermediaries, instead what is more feasible is that maybe future blockchain technologies could lower barriers to entry. As for comparison payment processing space, this is more in point 1. Bitcoin is not cheaper. Bitcoin is extremely expensive to use and intended to be expensive. |
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Bitcoin is currently overly secure, due to the block subsidy, so therefore total mining costs relative to number of transactions is very high. As the block subsidy diminishes, this ratio will decline
Total security can be maintained, without transaction fees increasing, if transaction volumes increase, which is entirely possible, and is what has historically happened.