Read_730 – High Fees? Bitcoin is Working as Designed [Matt Odell]

“Bitcoin transaction fees limit network abuse by making usage expensive. There is a cost to every transaction, set by a dynamic free market based on demand.” — Matt Odell

Is Bitcoin broken, are the high fees the end of Bitcoin as money? Are the fees themselves even the problem? How does this relate to not wanting people to be pooping in the park? Today we dive into a short, but solid post by Matt Odell to make sense of what is going on with fees, and then a Guy’s Take to clear up some previous discussions, and make sure we understand the difference between the censorship and engineering concerns around the Bitcoin system and its secure operation. Let’s dive in…

Check out the original at:
Guy’s Nostr Pubkey: npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpev
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“People need to agree enough to be able to trade but also disagree enough to be willing to trade.” — Allen Farrington & Sacha Meyers, Bitcoin is Venice
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