General Questions from a new user

  • Dear burstcoinians

    Sinds 2 months I am experimenting with burstcoin, so I am new to the game. I must say, I am charmed by the coin, and would have expected it the be higher valued, especially with the 'environmental-green-movement' being so large in the world.
    I do have a few questions/thoughts about Burst and I am hoping somebody can give me some insight.

    1/ I know that Bitcoin just went through a fork, because too much transactions led to 'full' blocks on the blockchain. Can Burst run into a similar scenario of 'full' blocks when the numer of transactions rise?

    2/ Currently a Burst transaction cost 1 Burst. What happens with this transaction cost if Burst is higher valued? I cannot image that the transaction cost will still be 1 Burst, if a Burst=100dollar.

    Any reply is very much appreciated.

    Kind Regards.

    1. In principle, yes. Since Burst is still very small changing/improving this topic in not on the agenda to the (very few) core developers afaik.

    2.Rather hell will freeze over than Burst hitting 1$, let alone 100 in the next next future..

    Changing Transactions costs from 1 Burst to <>1Burst would require a fork afaik.

  • Burst blocks have no size limit afaik. Also, the fee will be changed if required, but will not require a fork. Just pools and solo miners will need a version that will actually accept a transaction with a lower fee.

  • Thanks for the quick reply Marc and kev626

  • admin

    @kev626 Actually, there is a block size limit, that's why the BN Spam caused so many problems. Also, it would require a fork to change the transaction fee, as ALL wallets would need to accepts TX's where fee is not at least 1 Burst.

  • @Marc said in General Questions from a new user:

    2.Rather hell will freeze over than Burst hitting 1$, let alone 100 in the next next future..


  • @haitch
    Maybe I'm an optimist when I think that Burst can become way bigger than it is now. So, why not learn from what happened to Bitcoin and do a fork now to change the block size limit (or at least create it in such a way that when the problem arises, there is no need for a fork anymore) and the same applies for the transaction fee. I guess it is easier to fork now and when it is done, Burst would be more 'future proof'. Or am I missing something here?