🙏🙏

I hope to see 10 sats/vB at all, let alone under!

we may have had our lot of single digit fees, fren 🫠

unspent transaction output

until now, the transaction fees for sending #bitcoin have been floating between 1-5 sats/vB; every time you send #bitcoin, the fees depend on how many UTXOs (or “chunks”) of #bitcoin you’re sending

think of it like this: to buy a toy, you’re gonna maybe break a $20 bill; for a TV that’s thousands of dollars, you’re going to use bigger denominations than $20s

- imagine how much more cumbersome this would be if you’re trying to pay in nickels or dimes

the same analogy applies to #bitcoin; in the future, we honestly don’t know what kind of fees we’ll face when trying to send UTXOs around

we might have a high fee environment where it may very well cost tens or even hundreds of thousands of sats/vB, at which point any UTXOs that make up less than the total sum of the fees would become unspendable

Lightning will facilitate fast and cheap TXs going into the future, but it will be a rare thing indeed for people to *actually* settle on-chain UTXOs

think of it like moving house; when you do it, you make damn sure you know how much you’re willing to spend, where you’re moving to, and you may only do it once or twice a decade (maybe less)

all I’ll say is I have seven UTXOs, but only two are ~1 million sats

the others are considerably higher

make of that what you will