Mempool Observer Topic

[FeeBuddy]

     

• fastestFee: 9 sat/vB
• halfHourFee: 8 sat/vB
• hourFee: 7 sat/vB
• economyFee: 4 sat/vB
• minimumFee: 2 sat/vB

[Wind_FURY]

Shower thought - or question.

The obvious - If low fees mean that demand for blockchain space/on-chain transactions are low, which also means lower incentives for miners, which will also means that if network rewards have been halved low enough, then miners should depend entirely on the fees to continue hashing, THEN isn't the solution to just merely let people use the blockchain in different ways that they want?

This is a hot-take, but it's probably time to be agnostic about dick pics and fart sounds in the blockchain because it might be the future of Bitcoin?

[bitmover]

This is a hot-take, but it's probably time to be agnostic about dick pics and fart sounds in the blockchain because it might be the future of Bitcoin?

I just think bitcoin's future is much greater than those dick pics or memes or whatever....

Global money, borderless, censorship resistance, permitionless, etc.. and people want to transfer dick pics over it?

[BlackHatCoiner]

We have taken "fuck you money" too literally.

[examplens]

The obvious - If low fees mean that demand for blockchain space/on-chain transactions are low, which also means lower incentives for miners, which will also means that if network rewards have been halved low enough, then miners should depend entirely on the fees to continue hashing, THEN isn't the solution to just merely let people use the blockchain in different ways that they want?

Some eat meat, while others eat vegetables. It can be said that together they eat Beef Stew. 
The same can be said for miners, they had some very profitable periods, but now is a bit different. When an average is made, they get a mean value.

[FeeBuddy]

     

• fastestFee: 6 sat/vB
• halfHourFee: 6 sat/vB
• hourFee: 6 sat/vB
• economyFee: 6 sat/vB
• minimumFee: 3 sat/vB

[JayJuanGee]

We have taken "fuck you money" too literally.

I am not completely sure how that Lopp tweet relates to this topic, though I suppose talking about dick pics might cause one to think about fuck you.. perhaps?

So accordingly,.. the fuck you examples of that James Lopp tweet might be somewhat valid and perhaps broader considerations of the meaning of fuck you or fuck you status, but surely, I prefer to consider fuck you status in a more narrow context of choosing whether or not to work in order to have enough money to live... and then to be able to live off of the amount of money that you have... ..so if you have enough to live, you can live off of your bitcoin and you don't have to work, then arguably that would be entry-level fuck you status. 

Yet of course, there are varying levels of liberty and ways in which we may or may not want to "get along" in society which create higher level concerns ..or we might make various choices regarding how we might want to live and whether we might have enough wealth (or in this case bitcoin) to be able to sustain ourselves at our expected living status.. but maybe some people who get wealth and power might not always realize that the more wealth and power they get, then the more and more they want, and some folks cannot really ever be satisfied, so maybe we start out thinking about how we might be able to live in a kind of self-sovereign way, but then the more wealth we get, then sometimes we might start to recognize and appreciate that we are able to influence and control others with the disparities of our wealth.. so gosh, we are never likely to get away from disparities in wealth or even some of the utopian desires to reset society so that folks might be closer to being on a similar level to one another.

So yeah, on a more basic level, if we have enough money, then we can choose whether or not to work and choose our kinds of work.. but then the more and more we get into some of the details of how we are going to interact in society with our level of wealth (and maybe our growing level of wealth), then the whole question of fuck you status becomes more difficult to pinpoint and even having a lot of subjective variations in potential chosen paths.. beyond the basics of mere entry level fuck you status that allows us to be able to stop working for others.. but even then we still likely have to figure out ways to get along, even if we might be dealing with contractors who are doing work for us.

[FeeBuddy]

     

• fastestFee: 8 sat/vB
• halfHourFee: 7 sat/vB
• hourFee: 7 sat/vB
• economyFee: 6 sat/vB
• minimumFee: 3 sat/vB

[FeeBuddy]

     

• fastestFee: 7 sat/vB
• halfHourFee: 7 sat/vB
• hourFee: 7 sat/vB
• economyFee: 4 sat/vB
• minimumFee: 2 sat/vB

[Wind_FURY]

This is a hot-take, but it's probably time to be agnostic about dick pics and fart sounds in the blockchain because it might be the future of Bitcoin?

I just think bitcoin's future is much greater than those dick pics or memes or whatever....

Global money, borderless, censorship resistance, permitionless, etc.. and people want to transfer dick pics over it?

But it's still technically all that WITH the dick pics and fart sounds. There's just different types of users for different kinds of uses. Using Bitcoin differently than how we would use it didn't change the nature of the network. It's still censorship-resistant, borderless, and a self-sovereign asset. But because it's permissionless - people how want to use it differently don't need permission to build on top of it and use it.

[FeeBuddy]

     

• fastestFee: 8 sat/vB
• halfHourFee: 7 sat/vB
• hourFee: 7 sat/vB
• economyFee: 6 sat/vB
• minimumFee: 3 sat/vB

[FeeBuddy]

     

• fastestFee: 8 sat/vB
• halfHourFee: 7 sat/vB
• hourFee: 7 sat/vB
• economyFee: 7 sat/vB
• minimumFee: 4 sat/vB

[FeeBuddy]

     

• fastestFee: 12 sat/vB
• halfHourFee: 12 sat/vB
• hourFee: 11 sat/vB
• economyFee: 10 sat/vB
• minimumFee: 5 sat/vB

[FeeBuddy]

     

• fastestFee: 19 sat/vB
• halfHourFee: 18 sat/vB
• hourFee: 16 sat/vB
• economyFee: 10 sat/vB
• minimumFee: 5 sat/vB

[FeeBuddy]

     

• fastestFee: 6 sat/vB
• halfHourFee: 6 sat/vB
• hourFee: 6 sat/vB
• economyFee: 6 sat/vB
• minimumFee: 3 sat/vB

[FeeBuddy]

     

• fastestFee: 6 sat/vB
• halfHourFee: 6 sat/vB
• hourFee: 6 sat/vB
• economyFee: 4 sat/vB
• minimumFee: 2 sat/vB

[NotATether]

This leads me to believe the the firestorm of Runes transactions has also stopped, because I no longer hear about it anymore in the news.

Let's enjoy 6 sat/vb while we can, as I think that as soon as prices start to go up I believe that the fees will triple it even quadruple.

[Wind_FURY]

This leads me to believe the the firestorm of Runes transactions has also stopped, because I no longer hear about it anymore in the news.

Let's enjoy 6 sat/vb while we can, as I think that as soon as prices start to go up I believe that the fees will triple it even quadruple.

It didn't have the same excitement as Ordinals/BRC-20. It's probably because Runes was already pre-announced by Casey Rodarmor, everyone already knew what was going to be released. Plus holders of BRC-20 tokens were against the release of Runes. Hahaha. Although it's a better version for meta-protocols for tokens in the Bitcoin blockchain because it's UTXO-based. But there are developers who are trying to actually build something through Runes - RSIC and Bamk.

[examplens]

This leads me to believe the the firestorm of Runes transactions has also stopped, because I no longer hear about it anymore in the news.

I'm not interested in Runes, so I hardly follow what's happening with it. But are there any conclusions about how the speculators who paid abnormal fees fared, was it worth it?

[FeeBuddy]

     

• fastestFee: 8 sat/vB
• halfHourFee: 7 sat/vB
• hourFee: 7 sat/vB
• economyFee: 4 sat/vB
• minimumFee: 2 sat/vB