dshf on Nostr: I wonder what is the reason for such a small transaction volume. It might be the ...
I wonder what is the reason for such a small transaction volume. It might be the current price and market being undecided where to go and lack of new retardinals. Anyway I think that latest 2-3 months fee levels were mainly caused by 1sat/vbyte bloating mempool since retardinals’ start and on top of them were normal transaction volumes that had to adjust to that. I do not see anything new in terms of Bitcoin use cases that would significantly change the transaction volumes.
I would expect to see again fee levels like in 2021 when another price discovery starts.
And lastly, regarding network security, most of the miners are profitable now. Would they still be in 10 years’ time after 2 more halvings with fees around 1-2sat/vbyte? Hell, I don’t know but I would not extrapolate linearly their dominant current business models into the future. I agree with what I heard from Bob Burnett that block reward will play lesser role than their additional sources of revenue like grid support, heat reuse, mining transactions outside the mempool. Either they adapt or go bankrupt.
Pleb will still mine. Pleb is like cockroaches.
🪳 💪🫡
But I know I know shit.
I would expect to see again fee levels like in 2021 when another price discovery starts.
And lastly, regarding network security, most of the miners are profitable now. Would they still be in 10 years’ time after 2 more halvings with fees around 1-2sat/vbyte? Hell, I don’t know but I would not extrapolate linearly their dominant current business models into the future. I agree with what I heard from Bob Burnett that block reward will play lesser role than their additional sources of revenue like grid support, heat reuse, mining transactions outside the mempool. Either they adapt or go bankrupt.
Pleb will still mine. Pleb is like cockroaches.
🪳 💪🫡
But I know I know shit.