Once you realize that slavery was never about owning a person but about owning the fruits of their labor, you will understand why #Bitcoin was created.
It is obvious to me that the people who are currently hysterical about Ordinals / #bitcoin fees never truly grappled with the mathematical implications of the blockspace cap & the arguments presented by big blockers.
The fact is, #bitcoin blockspace is absurdly scarce and absurdly valuable - just like #bitcoin the asset. It must remain so in order to support mining in perpetuity in a world where the subsidy runs out.
To be able to send a multi-million or multi-billion dollar transaction that settles globally in ~10 mins - in a completely uncensorable and trustless manner - is a very very valuable thing.
In a hyper-bitcoinized world, a single #BTC TX is likely to cost the equivalent of tens of thousands - even hundreds of thousands - of dollars. This would still be a minuscule % fee for final settlement of a transaction using a physical asset worth millions / billions of dollars.
(Think about how much you’d pay in fees to sell a $500,000 house - for a physical asset to change hands. On the order of $30,000 - and it takes WEEKS. Think about how much it costs to transport $1M of gold.)
This was what the big blockers argued - this was the math that they did years ago - and concluded that blockspace MUST increase for #BTC to scale globally.
They were wrong, but they were smarter than the anti-ordinals hysterics because they realized the implication of keeping block size small and fixed NECESSITATES that #Bitcoin scales in layers and ✨the VAST majority of humans in planet earth never send a base layer transaction. ✨
This has been clear for years. If you are surprised or shocked by the fees we are seeing now, or if you think something needs to be done about them - regardless of what is causing them - you are WORSE than the big blockers, because you never truly understood their argument.
These fees are still CHEAP. If you believe hyperbitcoinization is inevitable, then current fees AS ABSURDLY CHEAP as $40,000 #bitcoin.
If you built a product that only works with $1-10 #BTC tx fees - hell, even $100 fees - you built a shitty product with a flawed premise.
Ordinals - unless they find some enormously economically valuable use case - are a BLIP. They are not worth fighting. They are destined to be competed out by TX with much higher economic value.
In conclusion, if you think these fees are a problem that needs a solution, you never really grappled with what the big blockers argued years ago, & you can cope and seethe into the void.
Cc @adam3us@LynAldenContact
I'm buying a house, and my mortgage rate was going to be 8.1%
My mortgage broker just called me
"Good news" He said. "Your rate just dropped. We can now offer you a 6.5% rate."
I thought for a moment.
"No." I replied.
He was puzzled. "What do you mean?" He asked.
"Give me a 9% rate instead. It will motivate me to grind harder and make more money. I don't want to get too comfortable."
This is how you build wealth.
Austrian-German weightlifter Matthias Steiner is a one-of-a-kind fighter. Steiner was married in 2005 to his wife Susan, his biggest supporter. Steiner then decided it was time to retire from weightlifting, but she pushed him to continue.
Steiner promised to compete in the 2008 Beijing Olympic Games, but then tragedy struck. Susan passed away in a car crash in 2007 before the games began.
Instead of stopping, Matthias made the bold decision to honor his wife through competition. He trained even harder, focused intently, and won the Gold by lifting more than he had ever lifted before. It's an incredible display of emotion, pride, and love.