zax_cloud on Nostr: Non-Monetary use cases, like eternal storage, will eventually out-price monetary use ...
Non-Monetary use cases, like eternal storage, will eventually out-price monetary use cases, there are many more cases and often and have a different fee heuristic. Eternal storage can be especially insidious because losing 98% of an UTXO in fees is acceptable for that use case.
This out-prices the rational monetary user who is seeking a reasonable fee to transact funds.
Myself, and other Lightning operators are bleeding millions of sats with these fees. Channels are not getting reestablished. Eventually all liquidity concentrates, and payments fail.
If this continues, myself and others may shut down their nodes, further concentrating the problem.
Not feeling especially bullish on Bitcoin right now.
This out-prices the rational monetary user who is seeking a reasonable fee to transact funds.
Myself, and other Lightning operators are bleeding millions of sats with these fees. Channels are not getting reestablished. Eventually all liquidity concentrates, and payments fail.
If this continues, myself and others may shut down their nodes, further concentrating the problem.
Not feeling especially bullish on Bitcoin right now.