Bitcoinmaxi on Nostr: Question for you Matt: I think there has been some legitimate concern lately for what ...
Question for you Matt:
I think there has been some legitimate concern lately for what happens when we reach a very low block subsity or no subsity. I am less concerned about IF Bitcoin can scale, but whether it is scaling to much. I think there is concern in 100 years +/- that your average person will rarely or never, transact on layer 1. Demand needs to increase on layer 1 to incentives the miners to collect transaction fees. If miners don't recieve enough revenue in fees, then they are not incentivized to increase their hash power, and therefore not increasing the cost of production. since commodities tend to rise/fall to their cost of production, we could see the Bitcoin price stall. Am I totally off here? Am I simply greatly underestimating layer 1 demand by banks/nation states/big corporations or overestimating layer 2 expansion in the future? Is this stall a feature rather than a bug?
Thank you if you even read this. You orange pilled me 5 years ago and can't thank you enough. You have changed myself and my families life.
I think there has been some legitimate concern lately for what happens when we reach a very low block subsity or no subsity. I am less concerned about IF Bitcoin can scale, but whether it is scaling to much. I think there is concern in 100 years +/- that your average person will rarely or never, transact on layer 1. Demand needs to increase on layer 1 to incentives the miners to collect transaction fees. If miners don't recieve enough revenue in fees, then they are not incentivized to increase their hash power, and therefore not increasing the cost of production. since commodities tend to rise/fall to their cost of production, we could see the Bitcoin price stall. Am I totally off here? Am I simply greatly underestimating layer 1 demand by banks/nation states/big corporations or overestimating layer 2 expansion in the future? Is this stall a feature rather than a bug?
Thank you if you even read this. You orange pilled me 5 years ago and can't thank you enough. You have changed myself and my families life.