Thanks, Ryan. If a $0.0015 output is considered dust at th…
Thanks, Ryan.
If a $0.0015 output is considered dust at the 1 sat/b default fee, taking a percentage of a 1 cent micropayment with modestly sized OP_RETURN data becomes tough.
That's a huge boon to the micropayment market and narrative.
https://twetch.app/t/a867a67e94700a4bdbf7e669924f70a3d8c0e9d7055eafe41c0be8c22a166a08
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It's a temporary luxury problem BSV have being the micro payment platform that works & will have for a very limited time. I think these issues will be solved for most users fast & more advanced users can solve it programmatically according to their needs.
Unfortunately we find ourselves in a precarious position right now.
If Twetch exploded in popularity tomorrow and wanted to lower posting costs to $0.01, they couldn't do so reliably.
Long-term I am confident but short to mid-term this is concerning.
I think so too @176 - we're about to tackle the 25 unconfirmed TX bottleneck as new ones are emerging. Long-term, we'll need more decimal points to facilitate regular sub-1sat/b TXs.
Genesis cannot be the end if BSV as a micropayment rail is to succeed.
I think soon Twetch will to go out & sell their present & future volume to a bigger miner with a lower price. The network as a whole will compete the min-allowed price down rapidly as more investors look towards the future instead of the present income.
IIRC some BSV apps are already doing this, which is great. But imagine an ecosystem of 10,000 apps. 100,000 self-hosted payment gateways. 10,000,000 active users.
At that scale the payment APIs (MoneyButton, RelayX, etc.) would have to be the deal-makers.