Oddbean

>Onchain fees are 2-3 sats/vb at the moment why do people keep making this dumb "but it's not raining today" argument? we've both seen the fee charts many many times. $50 UTXOs have become unspendable more often than solana downtime. if maxis get the adoption they feel entitled to, $50 UTXOs will become unspendable all the time. everyone will be forced into a custodial lightning wallet unless they are wealthy enough to be the custodian.

Some of us didn't think we'd see fees this low ever again. That's what it is for now. Everything has tradeoffs. People who want to put in $50 will have to start with custodial LN, liquid or an ecash/fedimint IOU. If they don't continue to stack, then they will stay there. Hopefully they'll learn the benefits of bitcoin and continue to stack towards selfsovereignty by either transferring that onchain in a larger UTXO, or into a self custodies LN channel for spending. The stuff you argue about for Bitcoin is the same stuff your other block chains will need to deal with once they get significant adoption. Which is unlikely ever to happen.

"The stuff you argue about for Bitcoin is the same stuff your other block chains will need to deal with once they get significant adoption. Which is unlikely ever to happen." Not true. Even with the same traffic Monero would have similar fees as it does right now because of dynamic blocksize. The reason Bitcoin fees get high when more people are trying to use it is users are bidding on limited block space to get their transactions in.

So you're saying monero scales 8 billion people on the base layer? Why don't other block chains just put dynamic blocks and we don't need to argue anymore cause it works. Because it hasn't been tested yet.