This is a well thought out thread in my opinion.
Here's the summary:
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BTC's longterm security depends on people paying extremely high TX fees which won't happen in a free market.
"
Is there a gaping hole in this argument?
https://x.com/Justin_Bons/status/1810357305390616839That depends on if Bitcoin will be used more than what it was intended to be. We've already seen what meta-protocols can do to increase demand for block space. Plus Ethereum has high on-chain fees and that never stopped their users from paying them to buy a dick pic or to mint one.