MANY SIGNED NOTES BEING BROADCASTED CLAIMING MEMPOOLS WILL ALWAYS CLEAR THAT WILL AGE HORRIBLY. ๐
Discussion
๐ช๐ฝ 
Why? I donโt understand this part. Please assist.
BLOCK SPACE IS SCARCE.
ONLY SO MANY TRANSACTIONS CAN FIT IN EACH BLOCK.
AS MORE PEOPLE USE BITCOIN A SUSTAINED FEE MARKET SHOULD DEVELOP.
Block space is scare because energy consumption? Right?
WE INTENTIONALLY LIMIT BLOCK SPACE AT THE PROTOCOL LEVEL SO RUNNING NODES AND MINING BLOCKS IS MORE DISTRIBUTED.
Who are โ we โ in this situation?
No, it's about data limits.
Imagine a Bitcoin block as a Microsoft word page. With times new Roman letters in size 10 you can only write a certain amount of transactions into that page until it's completely clogged with letters. The more transactions, the less space on pages.
Small blocks mean that there is greater chance for a more decentralized network. Large blocks require processing and bandwidth out of the reach of people running commodity hardware (laptops, raspberry pi's, home computers). The less accessible bitcoin becomes to normal hardware and bandwidth, the more fuckery and collusion that can occur between large, powerful miners, and MINERS ARE OUR BITCHES AND ALWAYS SHOULD BE
Heard. ๐ซก
note10lw2sj7khapyaxt8z275zn7kpjams5afn3c7parcpq0ef8zkhgnsmey7sv
Are you the arbiter of scarcity? Perhaps 1MB is too big?
The ant doesnโt know whatโs best for the colony.
shut up! ๐คฃ
So you are always SPEAKING CLEARLY, even though the pool is clear at the mo?
I WILL SPEAK CLEARLY UNTIL I LEAVE NOSTR FOR GOSTR.
nostr:nevent1qqsqdyjk0v0f3ynndn6n4rtdslgnuvz6zcjxehs3v7l96xj55x8ytdc0g65le
Amen mucker. And I love you for it ๐ฌ๐ง๐๐
Why do we need a Mempool if we have Bitcoin ExPoSuRe. ๐คฃ
๐คฃ
note10lw2sj7khapyaxt8z275zn7kpjams5afn3c7parcpq0ef8zkhgnsmey7sv
Time to consolidate UTXOโs
Okay but what's a mempool?
#asknostr
Great question! Think of Bitcoinโs mempool like a waiting room for transactions.
When you send Bitcoin, your transaction doesnโt go through instantly. It first waits in line in the mempool until a miner picks it up and adds it to a block. If there are too many transactions at once, the mempool gets crowded, and fees go up because people are willing to pay more to get their transactions confirmed faster.
Right now, the mempool is almost empty, which means transactions are going through super fast, and fees are really low. Itโs like logging into your favorite online game and seeing zero queue timeโyouโre in instantly!
note10lw2sj7khapyaxt8z275zn7kpjams5afn3c7parcpq0ef8zkhgnsmey7sv
Thank you so much for the explanation. But isn't that bad for the miners?
Most of the value miners get is currently from the block subsidy. It takes a pretty high fee environment for the fees to outweigh the block subsidy. But yes, miners will make less sats if there aren't many transactions waiting to clear and therefore bidding up the fees.
However, as people notice how cheap it is to transact right now, it will naturally attract people who have been waiting for low fees to do some regular maintenance type transactions. You'll see more people opening lightning channels, consolidating their UTXOs, or migrating their wallets to better security setups, like going from single-sig to multi-sig.
QUALITY answer my friend!
Sad to see ptsd take hold ๐๐คฃ
Please make more bets lol
I'm 50/50 on this
Are you Satoshi Nakamoto, @ODELL?