Post by twetch#678
this might be only thing that gets btc out of the death spiral
maybe the neckbeards had the right idea afterall
Today there is 130 btc in fees...
What the chain says
- Block
- 634 928
- Time
- 2020-05-14T23:46:36Z
- Signer
- 19gAUDU4VQoVuLgeL9pwTepPsZonqvALhv
- App
- twetch
- Type
- post
- Content type
- text/plain
- Name in tx
- twetch#678
Fields the transaction did not carry are omitted. Open the payload to see the bytes as stored.
Signed by
19gAUDU4VQoVuLgeL9pwTepPsZonqvALhv VerifiedReplies (7)
Once the fees get to a certain point, the majority of UTXOs on the network become unspendable.
WHY WOULD YOU SPEND BTC YOU MORON? YOU'RE MEANT TO HODL IT TO THE MOON.
the 130 btc daily fees keep rekt miners mining the chain
its retarded economics but here we are
At 130BTC daily fees, that is still less than 15% of the 936BTC/day in subsidies they just lost. To recover the full 6.5BTC per block, transactions need to pay a fee of 650 Satoshis/byte on average, which for a 250 byte transaction is just over $16.00.
This assumes $10,000BTC which is the price at which everyone must slap themselves for several reasons at once.
But to give you an idea, any UTXOs worth less than around $7 become unusable at that rate, no matter how much batching or segwit you use...
This is the most important point about BTC that the "stacking sats" advocates overlook.
All those UTXOs you "stacked" at $10 a pop may well end up costing more than their face value to include in a transaction. Great work.
BTC is not for those stacking $10 a pop
- Blockstream