Re: [May 2024] Fees are low, use this opportunity to Consolidate your small inputs
⭐ Merited by LoyceV (4)
I've already said it a hundred times, doubling
I wasn't even talking about forks. And my "opinion" is just basic economics. If you rise the block size limit, there's more supply of a block size with demand remaining the same. As a consequence, the block reward declines.
I wasn't even talking about forks. And my "opinion" is just basic economics. If you rise the block size limit, there's more supply of a block size with demand remaining the same. As a consequence, the block reward declines.
Gooood! Since we're on the consolidate to save$ topic, I feel so happy that you finally agree with me that bigger blocks will drop the average fees! At least here we're on the same page!
Second layers isn't "praying for a magical fix". It's a work in progress. Here's a list of promising second layer solutions: https://l2.watch/. "Doing something", which might turn out a terrible decision, merely for the sake of a temporary solution is not the ideal approach for shaping the future of money.
I can't help myself and I can't stop saying things the way I feel, sorry if you feel offended by this but
Die wunderwaffe!!!
Let's be completely honest about this, you talk about people moving to second chains, when
-the majority here, here on bitcointalk!, doesn't know what a spv wallet is, how fees work, how to use damn coin control, and you believe..
- again right here on this forum, so one of the cores of the community, people are advising to use altcoins, to batch signature campaigns to monthly payments, to use direct payments to cex account, and even started dealing more with usdt and stable coin in the marketplace
This is exactly wunderwaffe material, you're not seeing the reality from your bunker, and there will be no usage left whatsoever if things don't get done fast!
In 20 years, Bitcoin could be worth far above $1M. That puts 0.1 Bitcoin per block at 15 million dollars per day. If blocks are ten times larger (and still full), just 1 sat/vbyte is enough to double that. I'm much more worried about the current damage done to the Bitcoin ecosystem: if people can't make transactions, they can't use Bitcoin. If Bitcoin can't be used, it can't grow. I'm not worried about block rewards 20 years in the future, I'm worried about the current status.
There is a more problematic math at work here, every time Bitcoin grows the amount guarded grows, with Bitcoin at 1 million there is 19 trillion in wealth there ( for comparison GDP of USA), that will be guarded by gear worth the budget of Houston, that is if everyone agrees to pay $50 per tx, if not, the budget of Ulft
. But everything will be fine!!!!!
