Post
Topic
Board Speculation
Re: Bear market likely over?
by
Dimitri94
on 09/05/2023, 14:43:23 UTC
So yeah of course, related to recent transaction fees, we are seeing a lot of clogging of the network right now, and it remains interesting to see how mining might respond to such increases in fees (that involve both the reward and the fees)... and sure there are also likely a lot of relatively pisses off bitcoiners who have been used to transacting on bitcoin's base layer, and if they want to continue to attempt to use bitcoin for transactions, then they likely may well need to figure out some alternative ways to transact, including either delaying their transaction(s) or perhaps looking at some kind of a bitcoin second layer, such as looking at lightning network as a possible alternative way to continue to be able to transact.
I  just recognized that mirners get more fees than a single block reward. I just want to say It's rain without clouds for miners. As a lerner I want to know from you, is bitcoin network congestion caused by BRC20 or is there some other problem?

If miners receive more transaction fees than single block rewards, will they try to create such a situation by creating an artificial crisis in the future? In such a situation, those who used small amounts of Bitcoin on chain will no longer have that opportunity.

Another question is that the use of on-chain is only for those who  want to transact with more fess will only have the opportunity to use it? Can we finally go back to the previous position? Or do you think we should evolve our own system along with Bitcoin evolution?