I get what you’re saying but this could so easily be an endless growing attack as the money printer goes brrrr and that is what I wonder about. Maybe I am over thinking it 🤷♂️
Discussion
At some point during mass adoption, you have to hope that people are going to steer clear of the scams
I don't think they can afford to brrrr indefinitely because that will just hurt their own currency.
The simplest explanation is degens, greed, and the next pump and dump scheme: BRC-20.
I think you're giving this gerontocracy too much merit. They can barely install a bitcoin wallet on a phone.
True but they have their techy minions
Yes & they're forcing miners to deploy more capital or increase the viability of their current setup.
This is extremely 🐂 for our security budget...
WHICH IS THE THING THAT MATTERS WHEN COMBATTING NATION STATES & NATION STATE COLLUSION.
Thanks for answering my query, everyone seems to be laughing about degens but there is a serious side to this potentially. Just curioous
Yeah ofc, it can't be bearish if shitcoiners are paying our miners now.
Even if it's a direct payment sometimes, thats fine.
Fee estimation will be off for a blip, but if we implement this dumb ordisrespect patch fee estimation will be fucked - a lot of more technical people have gone over this - Shinobi, carman, etc..
& when I say bearish I don't mean price action.
I mean the health of Bitcoin - the network.
True but we also need ways for the unbanked to use Bitcoin without crazy fees. So maybe this accelerates the later 2/3 development
The biggest issue for the unbanked is concurrent fees & traveling to bank branches.
Onchain BTC is only good for savings for them regardless - even at 1sat/vb.
Bech32 -> LN = unbanked on Bitcoin.
Taproot, fedimints, etc. = Unbanked on Bitcoin.
Have enough saved up?
Welcome to the main-chain.
This was true in 2017, & it's true now.
High fees -> LN development go up technology.
It’s a big subject and so much to understand in Bitcoin. Thanks for info, always appreciated 🤙
