those fee's are not really from that many independent individuals . they are the same groups as the mining pool managers. basically making high fee's to pay themselves back.. thus not much loss is incurred when producing high fee transactions becasue they are the sender and receiver of fee's
Not sure I follow your point here. It seems that most of the high transaction fees are from "BRC20" inscriptions (due to high data requirement), aside from those wanting to process transactions quickly. I was hearing yesterday that while minting these inscriptions the cost can be upwards to $1,000 from individual users, while previously was around $100, as opposed to the $10-20 for processing a simple transaction.
To me the loss or gain is subjective. If you mint an ordinal inscription for $1K and can sell for $10K then there's no loss, only gain. If it becomes worthless, then you've lost $1K. I understand the logic of what you are saying of mining pools creating high transaction fees and effectively getting most their fee cost back, but otherwise there are hundreds if not thousands of individuals inscribing on Bitcoin right now.
as for trying to say people will use L2
moat subnetworks are stagnant. no ones using them for real world stuff its just businesses locking up their reserves and sitting on the numbers to make it look popular
I actually agree not many are using L2, at least it's not the "buying a coffee" style transactions many envisaged happening years ago. But this is also because mainnet has been relatively cheap with $1-ish fast transactions, so there is never a need or an L2 until the cost of transactions increasing on the main network. Ie nobody really cares if it costs 1 cent or $1 if you are transacting over $10/100 for example (at least in my opinion). But now that transactions are upwards of $10, there is a need fort L2 to have faster adoption, for the obviousness of facilitating small $10 payments, as well as even $100 etc.
Already we see the likes of Binance looking to implement Lightning network. Why didn't they do it sooner given it's been around for years? There was little to no need. Times have changed since then though.
heck even ethereum does not have much of an active community with its subnetworks, if it did then the market rate of CEX would be independant as they would have their own price discovery. however they shadow trace the ups and downs of bitcoin meaning they dont have their own price discovery/values/features sentiment
Not that I'd be making the comparison between Ethereum L2s and Bitcoin L2s, as they are very very different, a lot of the reason people don't trust Ethereum L2s is because they are generally unreliable as well as unstable. By comaprison Bitcoin's L2s are actually a lot more secure, even if much less used. Nonetheless, both Bitcoin & Ethereum L2s continue to grow in popularity during times of high fees.
i know idiots want/sponsored to push everyone to abandon bitcoin and use weak subnets. but thats just the greedy businesses and their contracted idiot teams of idiot promoters of sub services
they want people to have to pay channel fee's and routing fee's because businesses cant make money out of p2p bitcoin transactions so they want to stop p2p bitcoin payments and force everyone to hate bitcoin and move onto these subnetworks that charge fee's by requiring these middlemen businesses as hops/route managers
This just simply isn't true, nobody is talking about abandoning Bitcoin's mainnet, but potentially only using it when necessary. For example when you want to increase/reduce liquidity on an L2. Bitcoin's mainnet will always be the settlement layer, but settlement isn't that necessary for small amounts of money imo. Especially if it's going to cost $10, even potentially $100 in the future, in order to have payments settle.
Sure there is a lot of incentive for businesses to encourage L2s in order to make money, but what exactly are mining companies doing if not to make money? I honestly don't think transaction fees will ever dramatically reduce on the mainnet as instead usage will be sustained, in the meantime there can be L2 solutions that become 10x more popular than they are now, without effecting mainnet usage.
As per usual, just my two satoshis on the matter. Ultimately, if for whatever reason the ordinals fad passes and transactions fees return to a more reasonable/normal level, there again won't be much reason for L2 solutions to be adopted in a hurry. I'm not expecting it to happen overnight, it might take a few years or even a few decades, but to me it's simply inevitable, whether we like it or not.
