I disagree with that.
It really depends when you’re going to be spending them.
For the long-term, never selling bitcoin, yes 1M should be minimum.
But if you believe that eventually 1 sat will equal 1 dollar, and you plan on spending some of that bitcoin…
A mixture of UTXOs under 1M is totally fine. Also better for privacy.
Just my opinion.
Exactly!
This is also the reason why I doubt that the transaction fees will spike in future.
Think about it. A lightning channel opening is around 200vbyte big.
With a fee of 10sats per vbyte this means you have cost of around 2000 sats. When when we are at 1 sat = 1 dollars doing transactions will become ridiculously expensive
So I personally think that we will never see the high fee market everyone predicts.
I’m with you.
Although I don’t think the overall demand of block space will rise significantly over that time, there will be much less entities using Layer 1.
So the net will be increase demand and I do think it will be more expensive (in dollar terms) but think it will hover around 20-50 sats/vb
