A Possible BTC Future
Take this as a little piece of science fiction; the chances the future looks like this are small, but of all the possible futures I think this has as good a chance of any of happening:
Imagine: it is the year 2061.
The BTC price is six million US dollars– equal to about a million 2021 dollars because of inflation.
Miners are being rewarded 0.006103515625 BTC per block, plus transaction fees of about 5 BTC for 4,000 or so transactions ($7,500 per transaction).
But most BTC transactions don’t happen on the BTC network. Most BTC is locked up in multisignature outputs secured using multiparty computation and mirrored on another chain as “wrapped” tokens. People moved their BTC either because they want faster transactions, lower fees, more privacy, or want to invest their BTC in decentralized financial stuff. Or maybe all of the above.
The transactions that do occur on the main BTC...
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