There are already 2TB SSDs available for less than 80€ and prices are expected to go even lower.
I agree with Artic Mine and believe storage is not going to be a problem for Monero and that the only real bottleneck is upload speed.
What do you think?
Technology will keep improving, but I don’t think Monero scaling should allow a long-term increase that’s on the optimistic side of these projections.
Bitcoin clearly still works and has demand despite the limited block size, so Monero should grow more conservatively than it currently does after it permits as many transactions per hour as Bitcoin.
I see the dynamic size as a downward pressure against high fees. I don’t see high fees at peak times as a failure, like some people see them.
It is a failure, mastercard does not have higher fees at peak times. Do you know why, because people would not use their service if they did.
At peak times fees should go down if anything. More transactions = more rewards for miners thus fee per TX should go down. This is how a functioning blockchain handles fees. Bitcoin is broken.
Sadly, you can only guarantee that fees will stay at the same amount (or drop in your example) if we assume infinite scaling. Suppose 10 TB of transaction data shows up and wants to be mined into the next block. Fees only stay at the same value if you widen the block size to 10 TB. If you didn’t, then some people would be willing to pay more than others to get into the next block.
That is why it is critical for Monero to keep innovating, if we are able to keep reducing TX size, keep bloat away from the chain (NFT, and other crap), and incorporate better pruning techniques there should be no issues with accommodating any realistic volume that will happen. Highly doubt a block will get to 10MB in the next 10 years much less 10TB.
