1JLButMZPU7xu2PUBPxekTcpJKPzZuaTuZ (140) ·
Ironically a huge price increase would stagnate USE of Bitcoin on Twetch.
The fee rate is going to 0.5 sat/byte next month, but it won't be enough, so competition will soon be fierce as dynamic pricing by individual miners is possible.
#feegate #bsv
https://twetch.app/t/b30d60845180c13c34f98f8f5310d204c03f31b758e01acb33c4833975ffe5b1
Replies
1JLButMZPU7xu2PUBPxekTcpJKPzZuaTuZ (6) ·
That's not correct. Price increases tend to correlate with higher volume.
1JLButMZPU7xu2PUBPxekTcpJKPzZuaTuZ (14834) ·
All I hear is that signal strength will go up 📡🗣
1JLButMZPU7xu2PUBPxekTcpJKPzZuaTuZ (140) ·
Yes @385, but a $2 100KB image upload wouldn't work for new users coming in.
1JLButMZPU7xu2PUBPxekTcpJKPzZuaTuZ (2336) ·
Fees in dollar amount needs to be fixed constant. cost in terms of satoshi unit needs to adjust automatically with price. For the time being at least.
1JLButMZPU7xu2PUBPxekTcpJKPzZuaTuZ (2336) ·
Say if users are ok with 1 cent per post, or 5 cents per follow or what not, then that's the amount that will be deducted each time regardless of price of BSV, I think that will ultimately be important for growth.
1JLButMZPU7xu2PUBPxekTcpJKPzZuaTuZ (2336) ·
Since miner fee is negotiable, ensuring stability for users should be doable. Of course that means more work to put that in place. Also, I mentioned we have to be able to compete with twitter as a business. That's important to consider as well.