Re: [May 2024] Fees are low, use this opportunity to Consolidate your small inputs
Alright. In the present epoch, it's 16. In the subsequent epoch, it's 32, then 64, then 128, and so on. Do you understand that the on-chain volume doesn't escalate at the same pace, ensuring the system's sustainability? What's your plan for 25 years ahead, when the block size surpasses 1 GB, there's no competition in the fee market, and Bitcoin inevitably comes to an end?
As I said it before, make up your mind!
If the on chain volume doesn't escalate and grow by 2x every time you will NOT have 1GB blocks!
If the chain volume doesn't grow one bit from now you will not have even 2 MB blocks, since unless I have lived in a different reality having the maximum limit at 1MB didn't make all blocks at least 1MB, it made them at most 1MB!
So again, your fear is irrational, since if you say there will be no volume for that then there will be no big blocks either!
As for sustainability, the fee in reward right now is 9%, you only need 10x demand to completely override the block reward which will not be gone tomorrow. If you don't think on-chain demand will be x10 times more in 25 years then you don't have to worry about the fate of Bitcoin anymore since it's pretty obvious what that would be! But again it's a funny contradiction
- you don't expect 10x more people to pay 3$ for a tx
- you expect people to pay $30 for a tx
Yup!
