Oddbean

Have you heard about the Bitcoin feepocalypse thesis by Alex Kravets? Basically he’s been pretty convinced for some time that fees are going rise like crazy when Bitcoin gains more usage and adoption on l1 in the next cycle like seen on Ethereum in 2021. Which will make btc impossible to use for plebs and the third world. The bitcoin core devs will lose all credibility is this event and will be forced to make changes to btc to enable L2s as the plebs will beg for it. I first heard about this in summer of 2023. Looks like his thesis maybe playing out in real time. https://image.nostr.build/462d776ee149e0edca05b473e0710f9f7bd140bbeb763e396d8dcb5a83a606f7.jpg

This is very likely. Segwit bought us time, this cycle we will have block size debates again. Just let fees reach 100s of usd and everyone will be screaming for some action, which will never happen that fast, my feeling is that most bitcoiners, even OGs will want a block increase, and a minority will not, so we will be stuck for a long time.