Replying to Avatar mattybs

So... #asknostr

How do we handle an environment of permanently high #bitcoin fees?

I feel like we're headed there pretty fast. Next bull market is going to involve a lot of BRC-20 and ordinals activity. It'll get nuts.

So what do we do when fees are too high to send bitcoin or manage lightning channels for weeks or months?
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cryptowolf 2y ago

this is how bitcoin self regulates

but the question is flawed

high fees are not permanent.

Most wallets let you set your fees and you dont have to spend more on fees if you are ok with waiting a little longer in the mean time.

for the important transactions, pay a little extra in fees to avoid the wait time.

before you know it, fees will be back down to what they were.

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mattybs 2y ago

I'm talking about when there is a higher premium for block space, such as during a bull market, paired with the heightened appetite for building on top of Bitcoin.

Ultimately we want there to be higher transaction fees in order for miners to continue to be incentived to secure the network when the block rewards aren't enough. But we did have a scenario with BRC-20s and ordinals made the network near unusable. Are we really just crossing our fingers that it doesn't happen again? Or are we preparing?