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331 sats \ 8 replies \ @k00b 1 Feb \ on: Mempool cleared? This is my first time seeing this. bitcoin
It means we're scaling if you think more people own bitcoin. Afaict we're mostly scaling in the wrong ways - paper/custodial bitcoin.
It also looks like a bunch of new miners came online suddenly or we had a stochastic abnormality: #872748
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113 sats \ 0 replies \ @elvismercury 1 Feb
It does make you think a bit differently about some of the principal assumptions around scaling. Not this event, but the mempool in general -- that all the L2 stuff is building in anticipation of reactions to high demand; but that we do not currently have high demand, at least, not the way we normally think of the word.
But then the really interesting thing is: one of the reasons I expect demand is low, is that people have come to understand (through historical experience) the consequences of high demand. So the use cases that could have caused it became stillborn.
Such a mindfuck to entertain all these causes and effects.
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31 sats \ 4 replies \ @itsMoro 1 Feb
agreed, no one uses it p2p. or maybe the few that do are successfully using lightning primarily for a bit of silver lining.
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27 sats \ 1 reply \ @fiatbad 2 Feb
Most of my transactions are done with Lightning. The vast majority.
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5 sats \ 0 replies \ @itsMoro 2 Feb
too🤙
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0 sats \ 1 reply \ @PictureRoom OP 1 Feb
I think we (SN) all use lighting here like everyday
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52 sats \ 0 replies \ @itsMoro 1 Feb
ya, the fellowship of the stack 😅
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11 sats \ 0 replies \ @Shugard 1 Feb
There is a lot of paper BTC out there! And this will lead to a correction! As always!
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0 sats \ 0 replies \ @PictureRoom OP 1 Feb
They'll be sure to be rek'd at some point then
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