Damus
ODELL profile picture
ODELL
@ODELL
Bitcoin transaction fees limit network abuse by making usage expensive.

There is a cost to every transaction, set by a dynamic free market based on demand.

It is an incredibly robust way to prevent spam without relying on centralized entities that can be corrupted or pressured.

https://www.discreetlog.com/utxos/
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Matt Manning · 147w
Are you arguing that the current situation just sorts itself out over the long term due to the transaction fee free market on the network?
annica · 147w
It’s a fee market 🙃
Modus · 147w
I would love to hear a Citadel Dispatch episode on the Liquid network. I think it could be a good alternative in a high fee environment. In particular I'm curious to hear what Wiz thinks about the usefulness of Liquid these days.
theGig · 147w
Also it guarantees service to those that need it by pricing out those that dont. Same argument for why price hikes in times of emergency are necessary. I ensures that supply or service remains available to those that need it the most, those that will pay the most for it.
Cold Compost · 147w
If everything else is a test net for bitcoin then shitcoins on bitcoin is a logical end state. They play by bitcoins rules, and they pay like all the rest.
Bitcoin Gladiator · 147w
The free market will always find the most efficient way. Read "The Bitcoin Standard"
gsovereignty · 147w
Resistance to censorship is a consequence of transaction fees. The State is the adversary in the Bitcoin security model. We are now exiting the honeymoon period where nobody cares about Bitcoin. We haven't yet entered a criminalization phase but it's coming. When that fails, they State will deploy...