Let's also discuss then if we want the base layer to be where people record forever and publicly that today they bought a latte and a bunch of bananas using BTC, aka "let's build a circular BTC economy".

I think the base layer should be used for bigger things, like transfers of high amounts of value, property and other big financial transactions. So I find both the jpg monkeys and the latte people equally irrational. However -- to each his own, as long as they pay the price.

Reply to this note

Please Login to reply.

Discussion

The fee market sorts the latte and the bananas out even short term. If the fee is higher than the latte nobody buys the latte.

It seems that stupid dick picks are profitable even at high transaction fees. Long term they are no problem imo. They are just a bubble. They’ll go away. But short term they are a problem for people that want to fund their lightning wallets, people who have to cash out or even coinjoins.