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@ Dr. Bitcoin, MD
2025-05-06 02:39:05
If it becomes too expensive to transact on chain, and it becomes too expensive to transact on chain in sufficient fashion to run a censorship resistant L2 network, then bitcoin literally becomes digital gold: totally centralized.
Bitcoin is far from condemned to such a future. But it needs work. And balance to keep a network running…miners need a reason to mine and users need to be able to transact at prices reasonable for the value onchain transactions provide. But new software needs to be written to make the best use of block space and that work is under way.