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52 sats \ 0 replies \ @2big2fail 12 Apr 2022
because there is less demand than there is block space available.
why is there less demand than available space?
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many companies have optimized their usage with batched transactions
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lightning usage eliminated a lot of small onchain transactions
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store of value is major use case so medium of exchange is awaiting full monetization
chart of volume https://blockchair.com/bitcoin/charts/transaction-volume
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10 sats \ 1 reply \ @shyfire 13 Apr 2022
Very cool thread. Anyone know why the author says "the current near-zero fee environment won't last forever" ?
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0 sats \ 0 replies \ @k00b OP 13 Apr 2022
Because we all assume demand for block space will increase significantly as Bitcoin adoption grows and all of these space-saving activities can only go so far. We also need there to be higher fees to incentivize mining when the block subsidy is gone.
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10 sats \ 0 replies \ @based 13 Apr 2022 freebie
You may also be interested in the Open Source Stage: Mempools talk.
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0 sats \ 0 replies \ @zuspotirko 13 Apr 2022
Because of lightning? However, I think that onchain transactions must become pretty expensive if we want to keep the hashrate high which requires mining to be lucrative which will be harder and harder with each halving
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