Oddbean

Because of the dynamic blocksize, competition between miners will cause fees to decrease. If mining is not profitable due to a high cost and low reward, miners lose their incentive and will stop mining, reducing the security of the network. Tail emission ensures that a dynamic block size and fee market can develop. To answer your question. "Privacy"

Broadcast networks don't scale. Dynamic blocks will just ensure that payment layers won't develop & the base layer will ultimately centralize. The design ensures a slow march toward a dead end. nostr:nevent1qqsfu0dws7t435g3dxmmkgu32t0wr54vkv6avvd2hehvm0zgwmmvg0cpr4mhxue69uhkummnw3ezucnfw33k76twv4ezuum0vd5kzmp0qgswex0dc4t8uq5pt7c4qgpgtch6swgfx88d7kwg844m930kac2npwgrqsqqqqqpmrr5l6

The process of monetary adoption, is store of value > means of exchange > unit of account People are at different stages of this process, institutions are just entering the store of value stage, sone long term bitcoiners are already reaching the unit of account stage. But currency use will primarily happen on 2nd & 3rd layer networks which either do not yet exist or are not yet mature (because broadcast networks don't scale). There are multiple consumer grade low power hardware options for people who want to mine bitcoin. My brother & lots of others are using waste heat from larger miners to heat their homes. Saying it's not accessible is kind of ridiculous. But even if mining was largely inaccessible, that's less of an issue so long as everyone can run a full node & fully audit the system.

This guy disagrees with you https://image.nostr.build/3d7a8b836098ef9b09f31bf7510fe0ca0fa8859b5f8b263dceeb42dfb2a497c8.jpg https://image.nostr.build/ccf181ed168942446d16535fa01942fcb9f471b7b689c9d9f8d12839df0b629c.jpg

Being scarce & desired by many people are prerequisites to being a means of exchange. Scarce & desirable things tend to be decent stores of value. "I want that" necessarily comes before "I will trade for that."