I’m not the nitty-gritty valuation model guy. I’m more the first-principles, larger idea, framing-the-discourse guy.
Discussion
Fair enough. #Transaction #fees damage #Bitcoins economic model and sustainability.
There are very powerful reasons for the block reward. Even more powerful reasons for the halving. #Transaction #fees attempt to toss that out the window for a quick and dirty buck.
It turns the block reward and the halving into an excuse for printing money out of thin air. Like Fiat. That's not sustainable. Even more concerning is the fact that it debases the value of your #Bitcoin.
Instead of the circulating supply becoming less and less. They're by increasing the value of your #Bitcoin. Circulating supply increases more and more. Devaluing the value of your Bitcoin.
Satoshi got it right the first time..🧡😁
I thought transaction fees were proposed as a solution mostly for when the halvings run out in 2140.
Not really. Not by people who actually understand the design of #Bitcoin.
100 years from now Bitcoin will return to how it started out. A self-contained P2P cash system. Just as it was when I first used it.
No other parties needed. Except the other person transacting with you.
Just imagine how powerful a smartphone or a smartwatch or raspberry pi will be in 100 years from now.
Just imagine how little energy they will require to operate. I never turn my phone off. I have no idea how much the power cost to run it. Not much
Back when Satoshi sent me some sats to experiment with, it probably cost less than a penny to mine..🧡😊