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Just to clarify how Bitcoin works: How can I retrieve it? You don't ever really retrieve Bitcoin money, it is always kept track of in the list of transactions that almost every Bitcoin user has their own copy of (or access to a trusted copy). This list of transactions is a transaction-journal that is called the blockchain, but it isn't owned or controlled ...


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If the use of Bitcoin increase in the future, is the 7 transactions per second going to be a bottleneck? Assuming Bitcoin continues to grow in usage and we run out of possible soft forks that fit more transactions into a block without needing a hard fork (e.g. SegWit, Taproot) then yes fees will continue to rise if the block weight limitation remains the ...


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In 2017, the 1-MB blocksize limit was replaced by a 4,000,000 weightunit blockweight limit when the segwit softfork became active. The average blocksize has grown fairly consistently since then to now about 1.33 MiB in average. In the same time frame, the payments per day have been growing consistently as well: How's that happening? Growing against the ...


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Note that blocks can and have been larger than 1 MB. They are generally around 1.5 MB. Additionally, the limit is not on the size in bytes by rather a calculated parameter known as weight. The current limit is 4 million weight units. Depending on the kinds of transactions in the block, the actual block size at the limit can vary from 1 MB to 4 MB. In general,...


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