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Bitcoin fees
179 sats \ 5 comments \ @sagars209 15 Apr 2024 bitcoin
all bitcoiners know that bitcoin will hit a $1 mn perhaps very soon, it a matter of when and not if. However my concerns is fees, i have believed that supply and demand will take care of the fees and as most bitcoins are long term HODLers the fees should not really be a problem. However when bitcoin hits $1m even with 10 sats per vB the fees would 1400 stas (140 vB transaction size) which would translate to $14, which means holding UTXOs less than 45000 stats would be >3% fees (comparing to Fiat payment fees).
thoughts?
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0 sats \ 0 replies \ @FallingD02 15 Apr 2024
Recently @lunaticoin discussed some of this in one of his podcasts, about Healthy UTXOS. Very very brutal, maybe it can help you, if you haven't heard it yet. L219 "How much does your Wallet weigh" https://fountain.fm/episode/e6J8wQVq8TOdDpWqQf0c
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0 sats \ 0 replies \ @Satosora 15 Apr 2024
You have to keep in mind that the fees incentivizes the miners.
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0 sats \ 0 replies \ @oliverweiss 15 Apr 2024
A 1400 sats fee for a sub 45000 sats transaction is always >3% fee. It was like that 5 years ago, it is like that now, it will be in the future.
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0 sats \ 0 replies \ @nym 15 Apr 2024
That was always inevitable, but L2 and sidechains are designed partly to help with assist and I expect developments will continue to occur. Necessity is the mother of invention.
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42 sats \ 0 replies \ @az 15 Apr 2024
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