Re: [Jun 2024] Fees are high, wait for opportunity to Consolidate your small inputs
⭐ Merited by LoyceV (6)
You mean they also charge you for depositing banknotes in Netherlands? 
Of course! They can get away with it, so why wouldn't they? Consumers can still deposit a few times per year without fees, but businesses can't.Just like IPv4 (2 ^ 32 addresses) was never designed to serve 8 billion people with multiple devices (PCs, mobile, consoles etc.)
Bitcoin addresses on the other hand (2^160 times 4 for the different address formats) are more than enough to serve all of humanity 
Just like IPv4 cannot be extended to more than 32 bits, BTC cannot be extended to over 4MB.
Engineers try to find smart solutions (like NAT/RFC 1918, SegWit).
It's perfectly acceptable to use NAT and share the same public IP address among different devices, despite the fact it violates the end-to-end principle (sounds like the BTC whitepaper maximalism in a way).
So if BTC engineers find a way to share the same UTXO (like Ark promises to do) in the same fashion like NAT does, that'll be a game changer for Bitcoin.
Keep in mind that RFC 1918 came out 15 years after IPv4 and it took even more years to become truly mainstream in home routers (early 2000s) and I didn't even mention UPnP which came later on:
https://www.rfc-editor.org/rfc/rfc1918
https://en.wikipedia.org/wiki/IPv4
I have to mention this for people who are generally impatient and want a solution right now.
If you believe that BTC is the TCP/IP of money, then honestly I don't see any delays here. Smart solutions take time to be devised and implemented.
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IMHO, BTC follows the exact same trajectory as gold... people used to use gold coins for daily payments hundreds of years ago, but not anymore.
That would be bad. I want money without someone with a printer that goes brrr. Gold was replaced by gold certificates, which turned into banknotes, which were eventually decoupled from gold. I don't want fractional reserve Bitcoin.Quote
If he wanted BTC to be more attractive as p2p cash, he would have made it inflationary (no halvings)
I disagree. I love deflationary money. I don't need my money to lose value if I keep it for later.I'm just saying you can either have deflationary money + high fees (in the long term I expect fees to reach $1000) or inflationary money (EUR/SEPA, DOGE) + low fees.
As a thought experiment, imagine there was a base metal as scarce as gold
Gold isn't scarce, it's just hard to get. There's enough gold in the earth's core to cover the entire planet with half a meter of gold. That's about the total amount of gold ever mined per person.https://theprint.in/opinion/giant-asteroid-has-gold-worth-700-quintillion-but-it-wont-make-us-richer/260482/
Nobody will mention the fact that the exact same €50 banknote buys less and less stuff over time (covert robbery by ECB's inflation).
Actually.... Everyone mentions that. What truely amazes me is that people just accept it. Barely anyone points at central banks for causing infinite inflation. This quote comes to mind:It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.
Henry Ford
Henry Ford
I know tons of anti-CBDC/pro-cash people (99.99% of them are no-coiners) and they don't seem to care about inflation (they do cry about it, but they don't take any action).
That's like crying that your husband beats you every single day, but you don't dare to ask for a divorce, FFS!
