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Replying to Avatar ODELL

There must be a limit to how much data is transferred across the bitcoin network in order to keep the ability to run and use your own node accessible. A node is required to interact with the global bitcoin network - if you do not use your own node then you must trust someone else's node. If nodes become inaccessible to run then the network will centralize around the remaining entities that operate them - threatening the censorship resistance at the core of bitcoin's value prop.

The bitcoin protocol uses two main mechanisms to keep node operation costs low - a limit on the amount of data in each block and a robust dynamic transaction fee market.

https://www.discreetlog.com/high-fees/

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iru@localhot $_ 2y ago 💬 1

Why are people freaking out some degenerate shitcoiners decided to give mountains of free sats to miners?

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ginkgo 2y ago

The trouble, at least in my eyes, is that so many people in the developing world are depending on it for smaller cross-border payments. When the fees are high, we’re back to the same problems that Bitcoin solved with wire transfers.

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