Damus
nicnym #BIP-110 · 6d
Again, you are one who wants bitcoin to be a product, instead of money. Fees are not needed for miner revenue for another 100 years.
weev profile picture
I want Bitcoin to be money. Most money is spent, in one way or another, on contracts. Notional amounts outstanding in all forms of contracts exceed the amount of currency. The bond market is greater than USD M1, for example. So is the notional amounts outstanding of interest rate swaps. And the value of equities. If Bitcoin is only used to buy coffee, it is not real money. It needs to be able to execute contracts in a trustless fashion to be the real basis of a financial system, and truly be money. Especially when it’s been made deliberately bad for doing retail business, as it is not private or fungible. Contracts were all that are left when you have a transparent ledger.
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weev · 6d
Pretending Bitcoin has a 100 years is hilarious. If it doesn’t have a sustainably viable economy based on real use cases in 100 years it will be worth nothing. Something else will have replaced it. Bitcoin has to address what people actually want to do with money if it wants to be money.
Ohiokk · 6d
So true
Toxic Bitcoiner · 6d
No, those things are only so large because the money itself is broken.