quotingI totally agree that bitcoin value will grow a lot faster for a lot longer than most expect. But some fees will eventually be necessary as subsidy will long be insufficient for moving the chain forward before subsidy goes to zero.
nevent1q…02nz
And we have proof that people will pay for securing the network. The 2017 block size wars featured an attack on block space and fees went up to a very significant fraction of the subsidy. And ordinals did the same, albeit for less time.
Anyone arguing we need high fees now is missing the value of bitcoin. But arguing transaction fees will never be necessary I think is almost provably false.
Kevin's Bacon on Nostr: The specifics are important, if you're gonna argue specifics. The people who are ...
The specifics are important, if you're gonna argue specifics. The people who are worried about every little thing, or who think that to admit that Bitcoin market value cannot scale 1:1 with a stock to flow model is somehow consequential and wrong or a fiat mindset, don't get it. Your model of the world doesn't account for reality if you're one of those people. drgo (nprofile…r43a) gets it.