Hello,
Recently my wallet received a small transaction with something called
BitFee.
I did not know what it was, so I asked ChatGPT to help me inspect it. That led me to this protocol inscription:
7dacbdf58a0a99d067dff0c56a482a0b65d468ca135315a3c0209aef63a9a9a5i0
I am not the creator, and I do not know who made it. Maybe it will go nowhere. But the idea made me stop and think.
From what I understand, BitFee tries to use Bitcoin transaction fees as the basis for issuing an asset. If someone pays Bitcoin miner fees through a valid BitFee transaction, that fee becomes part of how the asset is distributed.
That raised a simple question for me:
Can Bitcoin fees become more than just the cost of using the network?
Bitcoin's subsidy keeps going down. In the long run, miners need fees. Usually we only think of fees as something users lose. But maybe fees can also become something people build around.
Not by changing Bitcoin.
Not by adding another chain.
Not by trusting a company.
Just by using normal Bitcoin transactions and normal Bitcoin fees.
I am not saying BitFee solves Bitcoin's fee problem. It probably has many problems. It needs indexers. Miners may have advantages. Maybe nobody will care because it was not started by a famous person.
Still, I find the direction interesting.
Also, this post was organized with help from ChatGPT. That made me think about another angle: if AI can help ordinary users inspect transactions, read inscriptions, and write small indexers, then a protocol like BitFee does not have to depend on one official website.
Different people could verify the same rules with their own tools.
That feels very Bitcoin to me.
Curious what others think.