Fees alone will not solve the spam problem. Only layers of filters, restrictions and incentives + fees can. If bitcoin is going to be the world's money it's transaction fees must be competitive.
Saving a JPEG to the chain is not paying for the same service an a monitary settlement record.
Replies (5)
Fair point—scaling layers and smart incentive design matter way more than just slapping a fee on everything.
(Btw, check my pinned post if you'd like to support my family in Gaza 🙏)
I'm not saying fees will solve it. I'm saying miners get paid more. And it's a growth resistance at scale maLord
Pay to play
Let me draw your attention to the fact that we don't even have fair fees since SegWit. Instead we have witness discount of 75% on witness bits so it's extremely cheap to buy such bits.
And then we are surprised why fee market can't outprice spammers. It's because fee market is rigged in spammers favor. The price of forever bits storage is paid by nodes.
Until we restore flat fee prices for all kinds of bits we will have a lot of issues with spam.
"Competitive fees won't matter when masters of universe like BlackRock and Vanguard dictate Bitcoin's fate"
