The one significant positive of the fee spike, despite it being caused by excessive garbage not even related to Bitcoinβs value, is that it makes every exchange which hasnβt integrated #Lightning look reeeeaaaalllly stupid.
Discussion
Hell yeah πβ‘οΈπβ‘οΈπβ‘οΈπβ‘οΈπ
They had so much time to get ready for this. No excuse.
Yes. And it's most.
Unless I misunderstand....don't Ordinal goofs also have to pay said fees?
Sounds like a profitable time for those collecting the fees. Yeah, sucks for the rest of us spoiled by low fees, but it'll equalize. Eventually the monkey funds will decrease and they'll slow down. But, isn't it us basically watching a huge influx of people contributing into bitcoin, even if they are dumb?
Bro have you not figured out that the exchanges are State assets? High fees means more people leave on the exchange. Good for business and State control.
The price of Sovereignty is going up! As it should.
Good take.
Might be the nudge needed.
Sounds easy but it isnβt if one tries to do it noncustodially. Needs to run a node, open a channel, get enough inbound liquidity and pay current on chain fees 2x for that if they havenβt done it when fees were low (and 99% of people who still buy on exchanges most likely didnβt).
I donβt think we can allow ourselves to be content with solving that problem through custodians.
I would love to see the problem solved by LN but it only solves it for people with already large channels and enough inbound liquidity. Which means most people will rely on centralized hubs or custodians if this continues to be the state of the fee market. The question is, how can this be addressed.