Quote from: Bitcoin Smith on Today at 10:43:09 AM

If we have 0.1sat/vb then after another 10 years we may feel that it is huge value according to the price situation at that time so setting low as possible can be a good thing so we don't need to adjust every time.

I disagree. Fees of 0.001 sat/vb are not realistic in the short to medium term, so there is no urgency at all to set that default value so low. And as I wrote, this is a configuration option that can be changed at any time by the nodes, not a softfork or so everybody must agree on, so there is no need to set it taking into account the next 10 years.

If the fee level is allowed to fall too low during some times, this would also probably again incentive behavior which will lead to more congestion in FOMO times. Runes or Ordinals could then practically be minted without any cost (and thus without a realistic "profit expectation"), as it occurred during the Litecoin and Dogecoin Ordinals waves (see this graph) which were quite "useless" as they didn't really generate much value for their networks.

The higher incentives for data transactions is also the reason why I wrote that I have to think more about that proposal: perhaps even 0.1 sat/vbyte would already have these unintended consequences.