Mike on Nostr: An interesting thing I found out about the banking system a while ago. One of the ...
An interesting thing I found out about the banking system a while ago.
One of the main inter-bank settlement systems used to settle payments between banks is RTGS (Real Time Gross Settlement System).
This can run at up to 9 transactions per second, but rarely goes above 4 - 5.
Merchant Services like VISA on the other hand can run at up to 25,000 TPS.
When you compare that to Bitcoin, layer one Bitcoin can run at up to 7 TPS, which Lightning scales to potentially millions of TPS.
In terms of supply cap, that is absolutely the number one feature of Bitcoin and something, I would suggest that never needs to be increased.
If you were to increase that, then why not make it unlimited. In that way you emulate the printing machines of government fiat currencies, or the now abundant supply of perfect diamonds entering the market by their millions.
Don't forget a Bitcoin is divisible by 100,000,000 Satoshis and Satoshis are divisible in Lightning fee payments to milli Satoshis, 1,000th of a Satoshi.
As a single Bitcoin goes beyond $1M dollar it would be possible to implement milli Satoshis into Lightning payments meaning that even at a value of $10M per BTC, where 1 Satoshi is worth $0.10, this can be divided down so that 1 milli Satoshi becomes worth $0.0001
One of the main inter-bank settlement systems used to settle payments between banks is RTGS (Real Time Gross Settlement System).
This can run at up to 9 transactions per second, but rarely goes above 4 - 5.
Merchant Services like VISA on the other hand can run at up to 25,000 TPS.
When you compare that to Bitcoin, layer one Bitcoin can run at up to 7 TPS, which Lightning scales to potentially millions of TPS.
In terms of supply cap, that is absolutely the number one feature of Bitcoin and something, I would suggest that never needs to be increased.
If you were to increase that, then why not make it unlimited. In that way you emulate the printing machines of government fiat currencies, or the now abundant supply of perfect diamonds entering the market by their millions.
Don't forget a Bitcoin is divisible by 100,000,000 Satoshis and Satoshis are divisible in Lightning fee payments to milli Satoshis, 1,000th of a Satoshi.
As a single Bitcoin goes beyond $1M dollar it would be possible to implement milli Satoshis into Lightning payments meaning that even at a value of $10M per BTC, where 1 Satoshi is worth $0.10, this can be divided down so that 1 milli Satoshi becomes worth $0.0001