bitcoin mempools may never clear again…
Discussion
Bullish
As it should be.
Never say never!
Was just thinking this today. Feels like a new era is starting.
Is it a bad thing? Empty mempools were never a good sign. We need fees consistently > 20% of block reward by the end of the next halving
I can't imagine anymore that such a meme coin like Bitcoin is becoming these days will be accepted as money worldwide. Sad, was a Maximalist until ordinals came, so I think I will switch to monero now.
Yes....but not like this
Things still work. 1 sat/vbyte was always for early adopters.
I doubt that.
That would always happen with bitcoin adoption. This is only the beginning, in the future most people will only use onchain for larger transfers like paychecks, most of the time people will use LN and Layers 3.
I think paychecks will be settled on Layer2, Layer 1 will be swift equivalent, inter-institutions transfers... the average person will never touch layer 1.
I believe will find a way better use case for ordinals than jpeg.
Yes, when i mean paycheck my company's bank transfers my salary at the end of the month to my bank account, that would be onchain, they pay the fees and they can batch the payments to all the workers in a single tx. Everything else will be L2 and L3.
I disagree. Cold storage is the only way to provide full sovereignty.
L2, as of now, requires a hot wallet. That is not secure against a sophisticated attack. The protocol could be, but not individuals.
Multi-vendor multi-sig in cold storage fixes this.
Sure, LN for now it's very risky and for self-custody is very complicated, but i believe that in the future it will be as easy to self custody as onchain layer.
Do you need cold storage to be sovereign or having the ability and the choice to have your wealth in cold storage is enough under a bitcoin standard?
That's what i do with LN now, i use hot wallets, but i manage my risk, i only keep small amounts in LN. Only self custody is safe.
You need to be able to access cold storage to be sovereign. You can't walk across a border with an LN node backup in your head.
No one should ever store their life savings on a hot wallet. We've seen even devs can't gaurentee safety for funds on a hot wallet.
Cold storage for savings. This really has nothing to do with layer 2 in my head. It's the hot wallet component, and unfortunately L2 has to be hot as of now.
It's only been two days since I tried to open a lightning channel with 1sat per vb. Guess I'm going to be a little more mindful in the future.
5 sat is the new 1 sat. Ngu tec.
Mempool clears by conference day. 😉
Good
youve heard it first here freaks. Odell calls mempool bottom
Syncing a node seems to have gotten exponentially slower. I’m not sure of any correlation to the new change with inscriptions?
Ye, it is
Starting to feel like it. Have two small transactions in at 1 sat/vb for four days now 🙃
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Not looking good for this prediction 😂
Never again == 2 weeks ™ ?
I’m not against high fees, but I do like low fees for building and stacking.