Bitchat? Can chose the appropriate region. But it’s fully open so you may get spammed.

So what’s the plan if the US fully descends into a neo-authoritarian, big brother type regime? Migrate somewhere more open? Scary thoughts given the firepower the US has at its disposal.

Priced in gold, the stock market is at about the same level now as it was in 1929. Therefore, stock market gains have been entirely due to monetary expansion over this nearly 100 year time scale, though this chart is probably not dividend corrected. That ratio though changes depending on the boom/bust of the business cycle. The implication here is that the market is still significantly over valued in hard asset terms so that gold/btc should do a lot better than the S&P. This does not mean gold/BTC will go up necessarily, only that it will drop less than the market on dips and rise faster than the market on upswings.

I think we hit 150k and then 58k one more time for good measure in 2025.

Gotta stay humble. LOL

You answered your own question. Lighting, custodians, fedminits, stuff not yet invented is what will happen when it’s $100 equivalent per transaction.

Normal people already hold checking, savings, credit cards, brokerages, HSA, Venmo, etc accounts. In the future they could mix a custodian lighting wallet for checking, a custodian L1 / Fedimint / whatever for short term savings, and cold storage self custody for retirement. 1 solution should not meet all of these needs as they are different.

Necessity breeds invention. Bitcoin already transacts as much as Fedwire and its open nature means it should be easier to verify your funds with a custodian than the current black box of fractional reserve banking. Not saying it shouldn’t ever change, but the barriers being so high is a good thing. It means there needs to be a real problem to solve instead of hypotheticals in the future.

More transactions per block means less fees per transaction because of supply and demand. Miner total revenue depends on the slope of supply and demand curves and could decrease with big blocks. Luxury good manufacturers intentionally limit supply because it increases their total revenue for example.

Not to mention all of the other centralization problems that come with big blocks as @LynAlden has explained repeatedly.

Glad the block size war was lost but people like this take a long time to change.

This argument is so stupid. If fees spike then the incentive to mine will be higher and miners will be turned back on. “Let’s make drastic changes because of a hypothetical problem that I think could happen” is such a fiat mindset.

NoDunks

Bought!

Wow! Look at this perfectly preserved relic of the dark ages!