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Fees if BTC is $1,000,000

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If today the fee to send a next block transaction is = 0.0008 ($30)

then when 1 BTC is $1 million, wouldn't it cost like $900 ($30x27) to send a transaction? (if fee's in sats are the same as today)

And also if BTC is $1 million then there will probably be at least 10x the demand for transactions

And so the fee in sats should also 10x (0.0008x10 = 0.008)

Therefore if BTC = $1 million it will cost like $10k to send a transaction on layer 1?

And also if the fee to send a transaction becomes 0.008 (10x todays) shouldn't people with small amounts of BTC (less than 0.1) be very worried?

Even at 0.1 it would cost almost 10% of your stack to transfer it anywhere (including to a layer 2)

submitted by /u/cbdonline
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