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As Bitcoin has grown, transactions have become slow
Except for Bitcoin Lightning Network:
https://en.m.wikipedia.org/wiki/Lightning_Network
Bitcoin is always being diluted
It’s also constantly getting un-diluted by people losing their keys.
Current estimates put the “lost coins” at around 25% of the total. That is twice as many as there are left to mine.
it is possible that transaction fees will need to be raised to compensate miners.
That’s been the plan from the beginning.
Mining halving has been defined with a rough estimate of adoption, volume, and technological advances. It’s why Lightning Network was developed, and why Ethereum has switched to a Proof-of-ownership mining scheme.
The estimate is rough and quite inflexible, which has lead to cyclic fluctuations around the period of halvings… but from a long term perspective, it has been working reasonably well for the first 10% of Bitcoin’s starting period.
How so?
Anyway, it’s not our call what people in 100+ years will think the exchange rate of Bitcoin should be.