bitcoinforthepeople on Nostr: I've heard many people speak about how "on-chain" transaction fees will become ...
I've heard many people speak about how "on-chain" transaction fees will become exponentially higher in the future, and be unaffordable for most as an explanation of why layer 2's like lightening are important. I understand that layer 2's are necessary for mass transactions (higher tps) but shouldn't transaction fees on the main chain be deflationary as the price climbs?(at least in sats but possibly in fiat terms as well)
Am I missing something other than demand for on-chain transactions going up resulting in expensive fees? Is that the simple metric where people arrive at this conclusion from?
Am I missing something other than demand for on-chain transactions going up resulting in expensive fees? Is that the simple metric where people arrive at this conclusion from?