Post
Topic
Board Bitcoin Technical Support
Merits 4 from 1 user
Re: [May 2024] Fees are low, use this opportunity to Consolidate your small inputs
by
BlackHatCoiner
on 20/05/2024, 16:28:22 UTC
⭐ Merited by LoyceV (4)
And can you really call someone "a user" if he can't actually use it?
Bitcoin will survive, just not as magic Internet currency in the base layer. It might sound like too-Saylor, but it is true: the base layer is the asset layer. The bet is to produce a working layer on top of that base. A second layer like lightning is what I'd rather recognize as a "transaction layer". Lightning payments fit better the definition of a "transaction", because you'd expect from a transaction to complete instantly, very inexpensively and more importantly: to be feasible to make nearly infinite (small) transactions.

I'm absolutely not saying that lightning is ideal, not even working great. It's just an attempt to implement one such layer. It's good that we acknowledge that such layer is needed. I see a lot of altcoiners being proponents of big block sizes, and that this is the solution to sustainability and cheap fees, which is evidently false.

To answer your question, you can call someone a user, as long as they use bitcoin. Be it on the base layer, or not. The bet is to develop second layers, and depend on them when used for financial transactions.

The same way Toyota does versus Ferrari, you sell 10 millions cars instead of 100, in bigger batches..you know what I mean
If you increase the block size limit (which is what I presume you mean), you're destroying the fee market competition, and you're making less money as a miner. So, it's worse.