Post by twetch#764

1BmBuB…MTpg Key · twetch
twetch_twembed1589497549098.png
What the chain says
Block
634 927
Time
2020-05-14T23:21:36Z
Signer
1BmBuBf5jH6LUc2BzRTrEePKVctf4dMTpg
App
twetch
Type
post
Content type
image/jpeg
Filename
twetch_twembed1589497549098.png
Name in tx
twetch#764

Fields the transaction did not carry are omitted. Open the payload to see the bytes as stored.

Signed by 1BmBuBf5jH6LUc2BzRTrEePKVctf4dMTpg Verified

Reposted by (1)

Replies (9)

19gAUD…ALhv Key · twetch
Replying to@1BmBuB…MTpg

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...

1BmBuB…MTpg Key · twetch
Replying to@19gAUD…ALhv

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.

19gAUD…ALhv Key · twetch
Replying to@1BmBuB…MTpg

the 130 btc daily fees keep rekt miners mining the chain

its retarded economics but here we are

1BmBuB…MTpg Key · twetch
Replying to@19gAUD…ALhv

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.

Continue thread →
15fphZ…E5WG Key · twetch
Replying to@1BmBuB…MTpg

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.

19gAUD…ALhv Key · twetch
Replying to@15fphZ…E5WG

BTC is not for those stacking $10 a pop

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