Mempools will never clear again
#bitcoin
Discussion
Seems like splicing won’t happen for transactions under 100k sat as well
why do you say that?
There is increasing demand for limited block space. More use cases coming other than financial transactions too.
this won't be good for bitcoin adoption
doesn't Lightning ease the onchain fees tho?
Idk that I agree. This is Bitcoin adoption. So is bitcoin adoption bad for bitcoin adoption?
And yes, Lightning should help although it has trade offs.
so in a hyperbitcoinized world, on-chain fees are through the roof? that will impossibilitate widespread usage, imo
Most people won't ever send an on-chain transaction in a hyperbitcoinized world.
It will be lots of L2 usage (Lightning, Ark, others that don't exist yet)
And lots of L3 usage unfortunately (custodial services)
never heard of Ark, is it similar to Lightning?
ye, there will be a lot of L3, sadly
Similar to Lightning but with different trade offs. Not publicly usable yet.
There are also things like Liquid that have a different set of trade offs. No one uses Liquid now but that may change if it's $1,000 to send an on-chain transaction.
Yep, it creates a disaster. Ultimately your Bitcoin becomes worthless.
Because the fees to transact with it equal or exceed the value of any Bitcoin that you want to spend or move.
The #Bitcoin #code and #fees have to be #cleansed..🗡️🦖⚖️👮♂️
as nostr:npub18kpw3akvdsyk239lx0jgwksr74sq4nlha3r8u9g2rnrhztfpfhysy469c4 said, I also believe that in a hyperbitcoinized world most people will not transact on-chain
Heard this last cycle lol
Fair enough lol. They've been relatively full even through the bear, so the bull is gonna be wild
Until it does and then the worry is that bitcoin has no security budget and the global hashrate will fall.
Thus the pendulum seems to swing.