Post
Topic
Board Bitcoin Discussion
Re: Bitcoin Issue That I Can't Wrap My Head Around
by
Cookdata
on 12/01/2022, 00:54:25 UTC
Exchanges and probably centralized wallets are give people the false sense that bitcoin fee is high, it is high but not high as withdrawal fee on exchanges. If the mempool has been so decongested for many months now, and now with 1 sat/vbyte that can get transaction confirmed, that is a small amount of fee, but exchanges will be charging 0.005 BTC or more when only 0.00005 BTC or less can be used as fee to get your transaction confirmed early..

Most, if not all, exchanges are known mainly for their profits, hence why they don't care when the memory pool is reduced to 1 sat/vbyte. It's actually an advantage for them because of the constant value of withdrawal fees, but the downside is that when the mempool becomes overcrowded with transactions, it can take hours to get from wallet to wallet, and they sometimes have to disable withdrawals by limiting transactions. After all, they are centralized prisoners right!

I am sure at some point in time far in the future a bitcoin clone will fork with some inflation.
Check other bitcoin forks over the years, they were hyped and hoped to meet other demands but all woefully died. Bitcoin will continue to exist in its current form. The inflation has been one of the key role in it price and that is why many miners hasn't sell some of their holdings.
Worry about now and leave 2140 worries to BIPs to come.