There are more pertinent problems yes, but being aware of a longer term problem doesn’t mean you’re excluding or not focusing on short term problems.
The fact that there’s relatively little beyond speculative demand for Bitcoin 16 years in is pretty concerning when the network is literally hard coded to crush speculation without utility one day.
Yes you could say we are still early, and there’s many paths the market might take to solve this quickly. I generally believe this. I don’t quite understand the point about fees increasing miner centralization- but I’m open to being educated here.
For me, pointing out the lack of block space demand is a rallying cry that we need to use Bitcoin as money far more- and therefore drive demand for settlement from the bottom up. The more we do that, the more we decentralize purchasing power, the more we increase more people’s time preference, the more freedom we distribute.
Empty blocks are a symptom of Bitcoin being hoarded by the already wealthy for some future power play, and that it is not actually being used and distributed. So it’s understandable people are concerned about this… like your 8 year old kid getting in with the wrong crowd.
EricFJ / Eric FJ
npub10x…2g437
2025-06-01 16:53:36
in reply to nevent1q…vntd
Author Public Key
npub10xvczstpwsljy7gqd2cselvrh5e6mlerep09m8gff87avru0ryqsg2g437Published at
2025-06-01 16:53:36Event JSON
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"content": "There are more pertinent problems yes, but being aware of a longer term problem doesn’t mean you’re excluding or not focusing on short term problems. \n\nThe fact that there’s relatively little beyond speculative demand for Bitcoin 16 years in is pretty concerning when the network is literally hard coded to crush speculation without utility one day.\n\nYes you could say we are still early, and there’s many paths the market might take to solve this quickly. I generally believe this. I don’t quite understand the point about fees increasing miner centralization- but I’m open to being educated here. \n\nFor me, pointing out the lack of block space demand is a rallying cry that we need to use Bitcoin as money far more- and therefore drive demand for settlement from the bottom up. The more we do that, the more we decentralize purchasing power, the more we increase more people’s time preference, the more freedom we distribute.\n\nEmpty blocks are a symptom of Bitcoin being hoarded by the already wealthy for some future power play, and that it is not actually being used and distributed. So it’s understandable people are concerned about this… like your 8 year old kid getting in with the wrong crowd.",
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