I don't follow it closely, but that idea seems to have faded and now it's just an asset to buy and hold while it magically goes up forever.
I don't follow it closely, but that idea seems to have faded and now it's just an asset to buy and hold while it magically goes up forever.
We argued against the complexity of SegWit and Lightning Network.
I think greed and politics won rather than engineering or economics good sense - people didnt want cheaper transactions, it now costs around $15 USD per BTC transaction.
Despite the proliferation of alt-coins using essentially the same code-base, with shorter block-times and larger buffers.. and more programmability - ultimately proof-of-stake might be a better implementation of the block minting process, than proof-of-work.
Checking now :
https://ycharts.com/indicators/bitcoin_average_transaction_f...
This says, afaict, the average BTC transaction cost today is $1:40 USD
The 5yr chart shows it spiking at $128 in April 2024.
If BTC transactions reliably cost 15c per transaction, it might make for a viable electronic money... but that is clearly not the case, so I think my point stands.