Bored Satoshi on Nostr: Yes. It is a problem. The notion in the Bitcoin land is that people should HODL ...
Yes. It is a problem. The notion in the Bitcoin land is that people should HODL bitcoin. Never spend it. If everyone holds bitcoin, who's transacting? Even then fees were $5-$10 before the oridinals craze.
Now I have traveled around some third world countries in Asia, South America, Africa and even Eastern Europe. Let me tell you, no one is using the main Bitcoin network for day to day transactions. $5 per transaction is absurd. They are using centralized solutions.
Only people from the first world countries were using Bitcoin to transact. Lightning does not scale as well, we all know it. We need better solutions.
Keeping the fees down socially by shunning the gamblers is not the solution and infact is a problem as miners will slowly move on. Bitcoin was built on economic incentives, not social.
Now I have traveled around some third world countries in Asia, South America, Africa and even Eastern Europe. Let me tell you, no one is using the main Bitcoin network for day to day transactions. $5 per transaction is absurd. They are using centralized solutions.
Only people from the first world countries were using Bitcoin to transact. Lightning does not scale as well, we all know it. We need better solutions.
Keeping the fees down socially by shunning the gamblers is not the solution and infact is a problem as miners will slowly move on. Bitcoin was built on economic incentives, not social.