Post
Topic
Board Bitcoin Discussion
Re: Mike Hearn Leaves Bitcoin
by
mpoletiek
on 23/08/2024, 16:35:05 UTC
Are we ignoring the fact that fees can go up at any time?

Doesn't this signal that the protocol isn't as resilient as we need it to be for a global p2p economy?

That's what makes it resilient.  Only shitcoins promise to have cheap fees at all times and they invariably collapse the moment they encounter a hint of congestion and suddenly fail to deliver on that promise.  Dynamic fees are a necessity.  You might not like it, but it's how it has to be.

Wait... so when demand for blockspace goes up, fees go up is a part of the design. I get that.

But so high that it can't scale to support a global p2p economy?