📅 Original date posted:2015-10-27
📝 Original message:
Anthony Towns <aj at erisian.com.au> writes:
> C. Without lightning, as bitcoin adoption increases, either fees rise,
> or number of transactions per block increases proportionally. If
> 1% of people know about bitcoin, and use it whenever it's cheap;
> then 2% of people knowing about bitcoin gives twice as many
> transactions at any given price level.
Metcalf's law? Both sides need to "know about bitcoin".
Say: 1 billion people, each initiating 100 txs per year. But only 1%
know about bitcoin, so those 10M can only use it for 1 of their annual
transactions. At 2%, 20M can use it for 2 of their annual transactions...
Not sure how this alters the rest of your calculations.
Cheers,
Rusty.
Rusty Russell [ARCHIVE] /
npub1zw…hkhpx
2023-06-09 12:45:00
in reply to nevent1q…t8lp
Author Public Key
npub1zw7cc8z78v6s3grujfvcv3ckpvg6kr0w7nz9yzvwyglyg0qu5sjsqhkhpxPublished at
2023-06-09 12:45:00Event JSON
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"content": "📅 Original date posted:2015-10-27\n📝 Original message:\nAnthony Towns \u003caj at erisian.com.au\u003e writes:\n\u003e C. Without lightning, as bitcoin adoption increases, either fees rise,\n\u003e or number of transactions per block increases proportionally. If\n\u003e 1% of people know about bitcoin, and use it whenever it's cheap;\n\u003e then 2% of people knowing about bitcoin gives twice as many\n\u003e transactions at any given price level.\n\nMetcalf's law? Both sides need to \"know about bitcoin\".\n\nSay: 1 billion people, each initiating 100 txs per year. But only 1%\nknow about bitcoin, so those 10M can only use it for 1 of their annual\ntransactions. At 2%, 20M can use it for 2 of their annual transactions...\n\nNot sure how this alters the rest of your calculations.\n\nCheers,\nRusty.",
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