There is a thought I've had. If BTC were to go past the moon and crush all fiat currency it would undergo far more transactions than it does now, more than SegWit could account for. Is there any way that BTC could become fast enough to function as a single or primary international currency through further updates yet to be determined without upping the block size to 1 TB per block someday?
Nope,
It's ONCHAIN transactions can not handle that demand,
plus as it's price rises so does it transaction fees, only the rich will be able to afford adding a transaction per block.
Mass adoption will fail and the rich will dump BTC in favor of other crypto that the masses can use.
BTC just does not have enough coins for worldwide adoption.
this might be true only on microtransaction, even with a fee of $10 i would still send 100, for example, the mass will only use bitcoin for big transaction and the rich can keep using bitcoin for the microtransaction
it's not that bad as it sounds, it might go in that way in the end, until a proper solution is discovered that scale for every size of the adoption
Hmm, you are stupid,
What I said is accurate.
Amount of money World Wide is ~ 75 trillion dollars
Trillion=(1,000,000,000,000)
Only 21 million BTC coin
75,000,000,000,000
means 1 BTC is worth $ 3,571,428.57
meaning 1 satoshi is worth ~4 cents
Fees to withdrawal BTC from an exchange is Fee: 0.00040000
at 4 cents each , that comes out to $1600
If you think that people are going to be able to afford $1600 transaction fee to remove $100 from an exchange, then mail me some of what you are smoking.
This is what I mean when I say there are not enough coins for worldwide adoption, they are so few they will be unaffordable and as a side effect no use to anyone as a way to transfer value. BTC is DOA for world wide usage , the majority of people are just too stupid to see it.
miners will adapt and reduce the transaction fee, instead of 40k satoshi you can have 400 or 40, they just need at least the same income they have now
