Oddbean new post about login | logout #HODL and wait. 1. The $200 will become $200,000 worth of today's purchasing power. 2. At that time, fees will be higher than $200, but less than $200k because if the cheapest fee to pay is $200k, all the brain power of the planet will concentrate on reducing the fees. #Bitcoin teaches you #LowTimePreference
you need to forecast fees in available kilobytes. not dollar price
I'm using dollar here just to make a point. The space will always be limited, and that's the reason why we'll always find better solutions.
the thing is you cannot use NgU to justify the ability to move a 0.01 utxo in the future. if anything, NgU will make the required fee, priced in bytes, more expensive
Until something new (like segwit) will be introduced, due to NgU, I mean not just price but the price we pay per transaction. Necessity (more people, creating NgU, creating more usage) is the mother of invention (making the fees in sats cheaper again).
segwit wasn't a significant improvement of scale. as long as block-size isn't hardforked, the demand for bytes will remain the same. if better alternatives materialize in the future it will STILL be expensive to move out of your current UTXO. there are no magics
Still expensive but not the same amount of sats as of today, that's my whole point.
A 1000x? Why so bearish? 🤣
https://image.nostr.build/60f9d18c4f2696b979fff099d241d2af6d77ea87224bcbd0153cb8bbb458c8ec.gif#m=image%2Fgif&dim=696x500&blurhash=riOyextQyCt7tQtQx%5BoftRx%5BtQWBWBWBWBj%5DWBj%5B%3F%5DWBj%5BayjbWBV%5BayV%5BtQjuV%5BWBjuWUayayWB%25fV%5BRjayV%5BayafayayV%5BRjj%5BoyWBoyWBoyof&x=82a7343d46cd605d47607115c59bd884f842acf3a9bc87f1182026d048f6898e
this is the best answer in the thread
