Yes. It is a problem. The notion in the Bitcoin land is that people should HODL bitcoin. Never spend it. If everyone holds bitcoin, who's transacting? Even then fees were $5-$10 before the oridinals craze.
Now I have traveled around some third world countries in Asia, South America, Africa and even Eastern Europe. Let me tell you, no one is using the main Bitcoin network for day to day transactions. $5 per transaction is absurd. They are using centralized solutions.
Only people from the first world countries were using Bitcoin to transact. Lightning does not scale as well, we all know it. We need better solutions.
Keeping the fees down socially by shunning the gamblers is not the solution and infact is a problem as miners will slowly move on. Bitcoin was built on economic incentives, not social.
Bored Satoshi
npub1hv…yrjjm
2024-04-20 06:01:50
in reply to nevent1q…xcwx
Author Public Key
npub1hv64t0jlg94p0tpq6zc8mrc5kyfhzwwn8fxp6m45jwdn9pmfs53q0yrjjmPublished at
2024-04-20 06:01:50Event JSON
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"content": "Yes. It is a problem. The notion in the Bitcoin land is that people should HODL bitcoin. Never spend it. If everyone holds bitcoin, who's transacting? Even then fees were $5-$10 before the oridinals craze. \n\nNow I have traveled around some third world countries in Asia, South America, Africa and even Eastern Europe. Let me tell you, no one is using the main Bitcoin network for day to day transactions. $5 per transaction is absurd. They are using centralized solutions. \n\nOnly people from the first world countries were using Bitcoin to transact. Lightning does not scale as well, we all know it. We need better solutions. \n\nKeeping the fees down socially by shunning the gamblers is not the solution and infact is a problem as miners will slowly move on. Bitcoin was built on economic incentives, not social. ",
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