Interesting take on #Bitcoin fees and unspendable UTXOs. If this is FUD, why is it? nostr:note1wzy8dnp9xnsapzaweyf6l7t85w6vwpaq35tlwf3u6fepm0n2dzxsnx878w
Discussion
That's a long doom day scenario I didn't read all of it. But that is not gonna happen. Fees will go back down once people stop playing with inscriptions. Inscriptions won't last on Bitcoin because they actually have no use. Now those UTXO that are very small. In the future, they will be spent because they will be worth more qnd fees will be normal. The only reason fees are high are because of inscriptions. And you gotta remember inscriptions, don't have no use case, sit's gonna die out. And also when the last Bitcoin is mined. Bro, that's not my problem. That's gonna be in the year 2140. I'll be long dead before that.
I would have thought that a month ago but inscriptions haven’t been cleared for months now and we are not even near the top of the bull market when fees skyrocket. I think, there is a case to be made that fees will sustainably remain high on #Bitcoin. Also, inscriptions aren’t the root cause for high fees. The root cause is the lack of scalability of the Bitcoin blockchain. Maybe this will create more interest for scaling options to be explored further.
You expect Bitcoin to become globally used and the block space not to fill up? If bitcoin even approaches use by 10% of people, even if they're all using lightning, just opening and closing channels will cause the mempool to grow drastically. It's basic queueing theory and simple market economics. There are 2 options: either fees one day never go back down or bitcoin doesn't get widely adopted.
If you want to articulate an opinion on something someone wrote you should probably read all of it.