165 sats \ 10 replies \ @iguano 24 Mar 2023 \ on: The mempool memory usage is > 1GB bitcoin
Fee market is working as expected
FTFY: “Blockspace¹ market is working as expected”
<sub>¹ the scarce good we’re bidding on is blockspace, not fees</sub>
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@k00b: The markup help-text claims that my subtext should have worked. ;)
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Cool, thanks. I’ll use that next time ;)
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So, this would stand to reason that soon bitcoin is only for the rich if fees keep rising.
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onchain is only for big transactions.
lightning is for small transactions.
no communist propaganda.
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True, however, now there are about 45 mil wallets. Imagine this number grows 10 times, what happens then to onchain. People still need to use it. LN will help, but does not solve the low TPS and price/tx increase.
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if 45 million wallets open a new channel ALL AT THE SAME TIME it will take less than 10 days to complete them. (this not include any type of improvement like batching them).
after than they can transact every day, hundreds of times AT DAY FOR EVER LAURA!
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Yes, but for what price, if mempools get 10x larger and btc increases in price.
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