Vector5 on Nostr: I refuse to believe that Satoshi's plan bypassed the control of worldwide ...

I refuse to believe that Satoshi's plan bypassed the control of worldwide governments, yet failed to consider too many people wanting to post pictures.

quoting nevent1q…27hp

High fees at this stage are GOOD for bitcoin.

Ordinals are fee payers (or maybe better stated as mempool fillers) of last resort. Just like bitcoin mining is energy consumers of last resort. Ordinals fill the mempool that might otherwise be partially empty. Without high fees and full blocks, the long term economic viability of mining is questionable.

Oridnals are pushing fees up and creating a floor price and pushing layer 2 innovation and adoption. It's spurring conversations and debate around Lightning, fedimints, liquid, etc.

A high fee environment is a proving ground that mining/hashing can remain economically viable even without block rewards. This is critical as hashrate secures the network.