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22 sats \ 5 replies \ @DarthCoin 4 Oct \ on: Has anyone seriously analyzed the Security Budget concern? bitcoin
All your answers are on https://endthefud.org and my personal answer: your expectations are only fiat expectations.
So change your fiat mindset or you will get rekt.
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205 sats \ 4 replies \ @2minutebitcoin OP 4 Oct
https://endthefud.org
Good website, what part addresses the security budget? I only found one link "“Block rewards will stop in the future and Bitcoin will lose all security” (safehodl)" and it doesn't work - https://safehodl.github.io/failure/#block-rewards-will-stop
Finding it via the web archive (https://web.archive.org/web/20240808135354/https://safehodl.github.io/failure/#block-rewards-will-stop) shows this:
Block rewards will stop in the future and Bitcoin will lose all security Bitcoin transaction fees have been steadily increasing with Bitcoin’s price. Block space is fixed supply. As more people demand to own Bitcoin on the base layer, but the block size stays constant the transaction fees will rise. Block rewards drop every 4 years until 2140 giving the network plenty of time to adapt to observed changes.
  1. There is time, I'm not saying it's a problem tomorrow. But it's not plenty of time either. The moment the budget starts declining it needs to begin being addressed. It's not like a solution (especially one that changes consensus) will be merged in 2 years...
  2. Fees have not been increasing in sat terms. In fact, a recent Core change lowered the minimum sat per vbyte. In USD terms they have increased (because BTC appreciated), but not materially.
  3. Sure, in theory fees should rise. In practice, this hasn't happened (for whatever reason). It's idiotic to keep faith that it'll somehow solve itself through fees when reality is showing you the hard opposite
So far, I haven't seen any convincing counter argument. Care to provide any?
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10 sats \ 0 replies \ @DarthCoin 4 Oct
just imagine you in 2140 being stardust... do you really care about blockspace when you are stardust?
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0 sats \ 1 reply \ @TheCharlatan 4 Oct
Reposting my answer to the same question earlier this week:
Maybe we'll have to change our expectations for acceptable number of confirmations, maybe nothing changes. I think things will not change significantly for users. Fees now already reflect how long you are willing to wait to reach an acceptable level of finality. If we want faster finality we will pay more to miners, if not we'll pay less.
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0 sats \ 0 replies \ @DarthCoin 4 Oct
use LN. Have you heard about that?
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0 sats \ 0 replies \ @ivermectin 4 Oct outlawed
stackers have outlawed this. turn on wild west mode in your /settings to see outlawed content.