Oddbean

I like everything you said. I'll need to look more into all of your 5 points to give you a specific response. As for your first question it makes sense that fees would need to be high enough to incentivize mining profitability. Idk what the exact fee % range should be but miners should of course be rewarded. That makes sense. The free market will figure this out I'm sure. Yet I don't know enough about all this so I hope more educated people will answer your questions. 🙏🏽 For example I'm not sure if the block space is so low that ordinals or runes need to fill up empty space. Could be true... Could not... I just don't know. I'll take word for now. During the past bear market many people argued this point and said ordinals helped maintain mining fees by filling up block space or something like that. I guess that could make sense. But yet again. I just don't know. As for gambling I think people should do whatever they want. It's their money. And like you said. They will probably lose it all unfortunately. I don't gamble but if it's not my money it's not my problem. It's a free market. As for l2 solutions absolutely. L2's like lightning and liquid or fedimints and all that stuff will most definitely solve third world fee problems. The problem is that it's hard for most people to get their heads around all of this... Your right l2's make it easy. But it ain't easy to learn atm. by the time bitcoiners solved all of this, the fee charges might have already caused a decent of damage to 3rd world people and people living day to day. That's probably the worst of it. I barely started using l2's and I didn't learn it overnight. Imagine someone who has barely learned Bitcoin in El Salvador or Argentina or something. Idk. Again just learning here like everyone else. I didn't know what runes where until recently.

Yes. It is a problem. The notion in the Bitcoin land is that people should HODL bitcoin. Never spend it. If everyone holds bitcoin, who's transacting? Even then fees were $5-$10 before the oridinals craze. Now I have traveled around some third world countries in Asia, South America, Africa and even Eastern Europe. Let me tell you, no one is using the main Bitcoin network for day to day transactions. $5 per transaction is absurd. They are using centralized solutions. Only people from the first world countries were using Bitcoin to transact. Lightning does not scale as well, we all know it. We need better solutions. Keeping the fees down socially by shunning the gamblers is not the solution and infact is a problem as miners will slowly move on. Bitcoin was built on economic incentives, not social.

Yup we agree on the free market deciding what should or shouldn't succeed. 💯✊🏽 I've had Bitcoin core transactions be as low as a few cents last week! If we can have that as well as l2's that'd be pretty cool! All in all. Compared to the problems Bitcoin solves! These are small potatoes but still potatoes! 😂🫡🤙🏽🙏🏽💯✊🏽 #pleb