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0 sats \ 4 replies \ @SatoshiNakanodo 1 May \ on: JPEGS or no JPEGS... Bitcoin dies without Fee Pressure. THAT is the Truth bitcoin
Hashrate must be through the roof again.
Hashrate is climbing fairly rapidly, and has been for years. Having said that, it climbs faster when hashprice is low.
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Then how can you simply assert that Bitcoin is "anaemic"?
As though this were some kind of objective fact
Bitcoin fees may be too low for your liking, which is fine. Don't mine it.
They're high enough for other to mine it. Which is fine. They'll continue to mine.
The fees are not "too high" or "too low" in any absolute sense.
They're too low for some miners, and high enough for others. They're too high for some transactors, and low enough for others. This is how it always is, has been, and will be. It's called a marketplace. Prices vary. People make decisions based on those prices. Anyone who thinks the price is incorrect hasn't understood what prices are and how they work and what they're doing and why.
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i understand what you're saying... but i believe it's a little more nuanced than this. without the jpegs and nfts, the current blocks would be (and were a few weeks ago) mostly empty at 1 sat/vb.
that's not a 'mining rewards' issue, that's a usage issue. if the plan is to create 'digital gold' well... ok. never transact in it just hold it.
if it's 'digital capital' then for sure there are going to be a variety of uses, based on blockspace demand that will evolve.
if it's "digital cash" then actual usage is not yet consistent with that idea. there are many millions of transactions throughout the world every day, and not being able to fill blocks is indicative of low adoption.
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I don't think you have any idea what I mean.
You're trying to "save" Bitcoin in case people don't want to use it enough for it to survive.
That's silly.
If not enough people use it, it will die from lack of usage.
If you succeed in trying to save it from lack of usage, it will die by becoming something else.
If this is a problem, you can't fix it, and will in fact make it worse by trying.
If it is not a problem (it's not a problem), then leave it alone.
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