Daniel suggests a nation state could buy enough bitcoin to price out all legit use of the network for a month or 20 by just pegging the fees above $100/tx.
https://twitter.com/csuwildcat/status/1655399304268218369
How realistic or damaging is that? What would happen?
So miners would be happy and expand their capacities for sure but would the price crash? Would adoption drop?
The profitability to mine will usher in new miners, which will increase network security, which will make #bitcoin more valuable.
From a usability perspective, it will drive more users to layer 2 technologies such as Lightning and Fedimint, thereby driving innovation and opening up new markets, which will also make #bitcoin more valuable.
The genius of Satoshi is playing out in real time 🍿
No replies yet.
