Well this chart from nostr:npub1xkere5pd94672h8w8r77uf4ustcazhfujkqgqzcykrdzakm4zl4qeud0en is a ₿anger
Discussion
Thanks yes indeed!! Very helpful!
Yeah, wish I’d known this when I was moving each of my DCAs individually to cold storage after every purchase
Yup I am trying to ring the warning bell.
Not your keys is a good first step but it's missing a big price of info
I feel this. Did the same thing. Every speck went into cold storage. Just consolidated in the last week or so. Now it’s River held until the amount feels uncomfortably large and then to cold storage.
So basically everything that’s below 500k sats is dust anyways in the future. Long term holdings should at least be 1M. Thanks for sharing
There might be use cases down the road that will help smaller utxos, but I don't feel like exploring those. So I feel it's easier to plan now
Nonsense
Well, care to explain why it’s nonsense? Or just trolling?
Since when are fees going to be permanently so high that a 500k utxo is dust? It sounds like fear mongering. Consolidating, especially of mixed utxo's, is a very poor privacy practice.
Well, there is an argument to be made that tx fees will be higher in the future permanently. Nobody knows but for me it makes sense as corporations and nation states start to use it on a regular basis, that tx fees will never come down to levels we are used to now.
As for your privacy concern, you can mix 1m sats sized UTXOs in Whirlpool. So I don’t understand your point.
Tx fees going up forever is a big blockers argument, and considered inevitable by many with a shitcoin mindset, because the fees (and other proposed ways to reward miners) have to offset declining block rewards. But, has permanent rising fees played out as block size went from 50 to 6.25? No, it has not, you can still get low fees, although it has been harder lately due to unsustainable shenanigans the latest of which being ordinal graffiti. And the reason fees won't inevitably rise is because the value of bitcoin rises.
I mean, you could be right. Your argument of increased price makes sense. I still can see a future where 500sat/vB is permanent. If 50% of the world will want to use Bitcoin, block space will just be too scarce for prices to stay as low as they are. People will have to open and close channels to LN all the time. But we’ll see
100% of the world will use bitcoin and it could cost hundreds of dollars equivalent to move a utxo on the base layer, like take it to the extreme where one sat is worth one of today's dollars. Practically speaking only whales (owning >= 1 whole coin) and layer 3's like fedi's move coin on the base layer to service their lightning nodes.
There you go. You just said it yourself: 500k sats will be dust.
I don’t believe that only whole coiner will be able to transact on-chain. I think 1m sats will always be economically viable.
“Transaction fees going up forever” is different than “fees will be higher in the future permanently”.
The former is false, the later is likely true.
500k sats is unlikely to be operative dust, but it could cost a very high percentage of itself in fees to be moved.
You can read the article where that chart came from, and the math behind it, here:
Sauce?
I prefer sub sauce, it's a very amazing Canuck thing
Unchained, not River
Personally I think fees will continue to rise in dollar terms but will continue to fall in sats term over longer period.
But it’s better to be prepared for worse.
The average transaction cost has been pretty much the same since the block chain started. I remember Adam Beck saying its been around 33 or 333bytes?
In the end the question is what do miners sell? Blockspace.
It's rare and once filled it will be expensive.
Adam Beck 
"I'm a loser baby..." 
I had no choice 
Hahaha awesome 🤣 I was getting my kids lunch ready so I didn't have time to make an edit. This is perfect 😂😂
He was on what bitcoin did…
Laugher intensify?
nostr:npub1art8cs66ffvnqns5zs5qa9fwlctmusj5lj38j94lv0ulw0j54wjqhpm0w5
Can we get Dan a copy of your book?
Transaction cost has certainly not been “the same.” Your reference to bytes suggests you’re referring to Transaction SIZE? Maybe.
Cost, no.
Cost, denominated in SATS has gone DOWN over time. Cost, denominated in DOLLARS has gone UP over time.
I view blockspace as community not scarcity. It’s gets produced every 10 min and will be produced for ♾️ time. So whenever there is congestion, it incentivizes newer protocol to develop which in-turn removes the congestion from the block.
Also if worlds gets priced in bitcoin, it will eventually price out low economic value transactions on base chain (like $100 transactions at that time) as sats will be more valuable than dollars then.
Well said, thinking the same ✌
every time I see a chart like this I immediately imagine a chorus of Bitcoiners laughing at poor people and telling them they got the price they deserved.
nostr:note1cu4qrgu9hy6dqxd4s6xnsg5ark7sprl96hsearwjszhl9dpmwdgs2keqk5
Valuable chart in terms of protecting your UTXOs. In the past when massive amounts of dust transactions have belonged to a single entity they have worked with miners to run large consolidation transactions that would otherwise not make it into the mempool.
Very true, I worry though that in the future of blockchain that cost will be very exorbitant, and won't be available to a pleb.
The real question is nostr:npub1xkere5pd94672h8w8r77uf4ustcazhfujkqgqzcykrdzakm4zl4qeud0en when Nevada?
I created this chart, it's on the Unchained blog, not River.
Friends don't let friends sats turn to operative dust
I like a visual element
