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211 sats \ 1 reply \ @ken 29 Aug 2022 \ on: Lyn Alden AMA bitcoin
Lyn Alden is on stacker.news
This will surely gain some views
I have one question, if you so choose:
Do you think Bitcoin can survive on transaction fees alone? Or is it all a big ruse?
I think it's a question of adoption.
If bitcoin stagnates and stays at its current level of users, then in 15-20 years, I would be concerned about its ability to remain censorship resistant. The cost to censor or otherwise disrupt the network would likely be quite low.
However, if bulls are right and bitcoin has 5x, 10x, 20x or more people using it in 15-20 years, then I don't see any problems with a fee-only model. There isn't enough blockspace for everyone to be on-chain, and so if the network is in demand, there will be a cost to use it.
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