I like everything you said. I'll need to look more into all of your 5 points to give you a specific response.
As for your first question it makes sense that fees would need to be high enough to incentivize mining profitability. Idk what the exact fee % range should be but miners should of course be rewarded. That makes sense. The free market will figure this out I'm sure.
Yet I don't know enough about all this so I hope more educated people will answer your questions. 🙏🏽
For example I'm not sure if the block space is so low that ordinals or runes need to fill up empty space. Could be true... Could not... I just don't know. I'll take word for now.
During the past bear market many people argued this point and said ordinals helped maintain mining fees by filling up block space or something like that. I guess that could make sense. But yet again. I just don't know.
As for gambling I think people should do whatever they want. It's their money. And like you said. They will probably lose it all unfortunately. I don't gamble but if it's not my money it's not my problem. It's a free market.
As for l2 solutions absolutely. L2's like lightning and liquid or fedimints and all that stuff will most definitely solve third world fee problems.
The problem is that it's hard for most people to get their heads around all of this...
Your right l2's make it easy. But it ain't easy to learn atm.
by the time bitcoiners solved all of this, the fee charges might have already caused a decent of damage to 3rd world people and people living day to day. That's probably the worst of it. I barely started using l2's and I didn't learn it overnight. Imagine someone who has barely learned Bitcoin in El Salvador or Argentina or something.
Idk. Again just learning here like everyone else. I didn't know what runes where until recently.
Thethird0cnzo
npub13s…ankts
2024-04-20 05:38:46
in reply to nevent1q…8s70
Author Public Key
npub13semawl0g4ymf4dnmqdvwv3a8fmwup3ft209cfuu3kgn7wssz2zsaanktsPublished at
2024-04-20 05:38:46Event JSON
{
"id": "3686230275b3cf3ee3e59590b8a4cfe19ac478f0fe414b2d693e218ce95cfe90",
"pubkey": "8c33bebbef4549b4d5b3d81ac7323d3a76ee06295a9e5c279c8d913f3a101285",
"created_at": 1713591526,
"kind": 1,
"tags": [
[
"e",
"b95a4230f5a2dce904cc371e643e336e487d20c333dbe4b8697153c04a239c3c",
"",
"root"
],
[
"e",
"4f3ada38a7a69f3d8ce65282261e0fd9ea185cae1a2fde880b0d2f5e437bbea0"
],
[
"e",
"97ee4037c6e703fa840b625ff08bb3b69362f2c0ab7a664a95219d458848af10",
"",
"reply"
],
[
"p",
"ee772a9ec50f3c664ce3583a23d7f9e036d4e353f11a94b2d11113165d3dced8"
],
[
"p",
"c2622c916d9b90e10a81b2ba67b19bdfc5d6be26c25756d1f990d3785ce1361b"
],
[
"p",
"bb3555be5f416a17ac20d0b07d8f14b1137139d33a4c1d6eb4939b3287698522"
],
[
"p",
"8c33bebbef4549b4d5b3d81ac7323d3a76ee06295a9e5c279c8d913f3a101285"
]
],
"content": "I like everything you said. I'll need to look more into all of your 5 points to give you a specific response. \n\nAs for your first question it makes sense that fees would need to be high enough to incentivize mining profitability. Idk what the exact fee % range should be but miners should of course be rewarded. That makes sense. The free market will figure this out I'm sure. \n\nYet I don't know enough about all this so I hope more educated people will answer your questions. 🙏🏽\n\nFor example I'm not sure if the block space is so low that ordinals or runes need to fill up empty space. Could be true... Could not... I just don't know. I'll take word for now. \n\nDuring the past bear market many people argued this point and said ordinals helped maintain mining fees by filling up block space or something like that. I guess that could make sense. But yet again. I just don't know.\n\nAs for gambling I think people should do whatever they want. It's their money. And like you said. They will probably lose it all unfortunately. I don't gamble but if it's not my money it's not my problem. It's a free market. \n\nAs for l2 solutions absolutely. L2's like lightning and liquid or fedimints and all that stuff will most definitely solve third world fee problems. \n\nThe problem is that it's hard for most people to get their heads around all of this... \n\nYour right l2's make it easy. But it ain't easy to learn atm. \n\nby the time bitcoiners solved all of this, the fee charges might have already caused a decent of damage to 3rd world people and people living day to day. That's probably the worst of it. I barely started using l2's and I didn't learn it overnight. Imagine someone who has barely learned Bitcoin in El Salvador or Argentina or something. \n\n\n Idk. Again just learning here like everyone else. I didn't know what runes where until recently. \n\n",
"sig": "231e499d8e67a6cbd672782e39131040ff4f002b50138b010a840d2f85dba36f4ea5beb03f2759babe4fb9b82a4c43514f1cd12ec101fa3a2c81a94cab2d796e"
}