Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: 19M Bitcoins are mined but did you know about the last Bitcoin mined?
by
franky1
on 08/04/2022, 04:05:55 UTC
⭐ Merited by 1miau (1)
It's still a long time, even if we would say it could be critical 25 years from now, when Block rewards will start to get very low compared to now. But we had already phases, where fees made up 20-25% of block rewards. Yes, maybe on-chain fees will be a bit higher than today and for very cheap fees, lightning will be used. It's possible.

I expect, it'll be a constant process, where Bitcoin gets more valuable but even on-chain fees won't explode.
Remember SegWit, where Bitcoin's TPS was increased and more TX were fitted into a block without downside. TX costs and network congestion went down because of SegWit.
Maybe we will see some more similar updates to improve Bitcoin and maintain the affordability of on-chain transactions.

high fee's means people wont want to use bitcoin to even enter LN. they will instead exchange their fiat for a cheaper altcoin like litecoin. and then use that to enter LN to then play with millisats.
same with exiting. those that did lock up btc to enter LN prior. wont wont to exit LN back to BTC. instead they will 'atomic swap' to an altcoin like litecoin and then use litecoin to exchange to fiat.
.. think about that

its the age-old game of the gold system. lock up gold in bank vaults and play with paper money. then not see the benefit of exchange paper money for gold. and instead swap papermoney for nickel and copper coins..

...
segwit increased TPS... WHEN?
moving upto 2017 bitcoin had the capacity of upto 4200 tx, and was in reality moving upto ~2500 average.. then segwit came in. and.............. 5 years later.. hmm.. flatline


please try not to read into the cultish propaganda narative of how certain devs pretended to make bitcoin better when all they actually done was stifle bitcoin to try getting people to move over to another network. yep they want bitcoin fee's to be high, yep they want limited transaction capacity on-chain. all so they can sell people into the old gold era game of lock up the asset and let people play with unconfirmed value in silly contracts(promises) that wont settle because its too costly to actually settle them.
..think about that
(not with your altnet favouritism hat on, buut with a critical thinking of a bitcoiner hat)