Quote from: AHOYBRAUSE on June 22, 2024, 03:59:35 PM

Every time I see that there is a new comment here I wonder what the fees at the moment are and of something happened again to spike the fees.
But looking at them now I a relieved that this is not the case. So I wonder, why dig this thread out that was inactive for about 2 months? We should all be happy with reasonable fees at the moment.

I see the value of Bitcoin coming from its potential use as a currency. The limited supply and decentralization only benefits the user if if is a decentralized currency. These features keep central players for devaluing the currency by creating more. If Bitcoin is not used as a currency then these Bitcoin features don't serve the user as intended.

If you think that Bitcoin is a currency than the current $2 or $3 fee is excessive. Imagine trying to buy a cup of coffee with a $2 transaction fee.

A $3US transaction fee is 2.5% of $120US. For transactions less the $120 it is more cost effective to use the current financial system.

Miners are making bitcoin less attractive as a currency by pushing the fees up in order to validate their business models. Runes and Ordinals are the tool being used to keep the fees high.