Post
Topic
Board Economics
Re: Btc and crypto was created for reason
by
jaberwock
on 31/07/2024, 14:22:55 UTC
The reason was anger, anger about high fees and impossible rules by banks in the far east.
Bitcoin itself with its fees, is close to copy the banks behavior back from those times.
Not high fees. I even think many traditional payment methods are free but it's just that they are too centralized. There are no privacy at them and then there is no freedom. This is the main reason on why Bitcoin is created because the currency has a decentralized feature. Back then, the fee in BTC is actually dirt cheap and I think there are even times that it was free. This is why faucets those times can pay the users directly in their chosen BTC addresses/wallets. The reason is because the coin is still not very known.

Yes, fees can depend on the number of users because if there are plenty of users, there are also plenty of transactions that are being created in the chain and this can be the ones that can cause a congestion and causes the fees to get bloated. Despite of the growth of users and the high fee issue in BTC, devs still implement a solution.

Now, the fees are more manageable. There is no occasion that BTC have copied the banks and that will never happen. Remember? BTC is created as opposed to it, like what I said earlier. It was actually the Banks are the ones that are trying to imitate Bitcoin but it already happened in the form of CBDC's and stable coins. It was still partial and BTC still have a unique feature that one can't possibly copy.