Replying to Avatar TheKayman

Yes I agree fees do serve as a filter, however the issue with saying this is that fees are also a filter to regular bitcoin transactions. I think it’s a bit naive to assume spam will get priced out and monetary transactions will not. If companies / spammers can find a way to make money from their spam, suddenly fees just become a business expense. Now you have spammers who are making money from their transactions competing with regular people just wanting to send a monetary transaction and not be making a profit. I wonder who the fees will filter out in this case…
70
Deleted Account 3mo ago 💬 1

Layer1 is not designed for people’s day to day transactions, it has never been.

Mega whales (treasuries, banks, ETF etc…) will be the ones using the layer1 and they will obliterate scammers fees spending power.

We will use lightning and alternative layers.

Reply to this note

Please Login to reply.

Discussion

Avatar
TheKayman 3mo ago

It’s a good point and yes retail transactions will/have migrate to higher layers, but the point is I don’t think you can say fees are the filter and assume fees will filter out spam and not native transactions. Fees will not be a deterrant for bad actors with vested interests in the fiat system. I think you know who that refers to.