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I find this a ridiculous thing to brag about. The only way Bitcoin will have low fees is if it fails. Since the network does not scale, if the network sees any
by adsrginio 6y ago
I find this a ridiculous thing to brag about. The only way Bitcoin will have low fees is if it fails. Since the network does not scale, if the network sees any substantial load the transaction fees will spike. We have already seen this happen back in 2017 at the peak of the bubble.
High fees are, in fact, part of the security model. The reward for "mining" a block will eventually dry up, so "miners" will be funded more and more by fees. Unless people are paying billions of dollars a year in fees, the financial incentive for "miners" will be too small to protect from bad actors.
Bitcoin can only have low fees if it both remains unpopular and dies before the block rewards dry up. Recommending Bitcoin because of its low fees is trying to sell it by predicting its failure.