This would simply push the market towards LN. A $100/tx fee is only a 0.3% if you open a 1 BTC channel. So we all just wumbo and win. Bitcoin is anti-fragile.
Daniel suggests a nation state could buy enough bitcoin to price out all legit use of the network for a month or 20 by just pegging the fees above $100/tx.
https://twitter.com/csuwildcat/status/1655399304268218369
How realistic or damaging is that? What would happen?
So miners would be happy and expand their capacities for sure but would the price crash? Would adoption drop?
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