Kyma Fi
· 1w
lol fiat thinking? No. I’m saying that the discount is necessary to be a swift and efficient l medium of exchange. What good is Bitcoin if it costs 10% of your transaction to buy a cup of coffee? Li...
I think you should lower your time preference and consider the alternative. Taxing nodes with more bits is not sustainable. If you are against spam you should understand this. The maintenance cost is in joules across the whole network in perpetuity to maintain the physical bit. The energy density of UTXOs is lessened. Less energy dense UTXOs on a joules per sat per mb^2, the less the sat buys you in exchange for joules (anything). Same block, same work, more memory, less density energy.
We don’t know how much blockspace lightning alone has unlocked since we devalued the bitspace in 2 ways with SegWit at the same time rather than LN speaking for itself in fee reduction by bringing tx to L2.
Cool thing about Bitcoin is we can disagree. But objective physics/math/engineering applied to protocol design will outcompete subjective design always. Truth will always find a way to manifest.
The longest chain of work in literal joules and time will not devalue its bitspace once it understands 🍴