How does it make you feel knowing that over half of the current bitcoin UTXOs are worth 1,000 sats or less?
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At what price does the dust limit get adjusted downwards?
how does it make you feel knowing there are 20,000 bitcoin nodes?
CAN THIS NOT BE SOLVED TECHNOLOGICALLY SOMEHOW? EVENTUALLY?
🤯
Apparently they’re already talking about removing it from core.
These are my DCA transactions, withdrawn daily to cold storage
such a bummer
I wonder at what threshold of utxo bloat would those nodes have noticeable negative impacts in their performance.
No. There’s limited block space and enough demand for it, that many of these UTXOs will just be abandoned in the future. No way around it.
Sad for the poor fuckers if they done consolidate in time
Surprising but Good !
Now assume 1M USD BTC - a 1000 sat UTXO is worth 1/ 100,000 of a million USD = 10 bucks
We want billions of people to have 10 USD (equivalent) - this can only happen if money is more evenly distributed - from the banks and major institutions to the plebs (billions of them)
A low median UTXO value is evidence that Bitcoin is redistributing wealth - it is a good thing !
This is why the sweet UX of consolidating UTXOs on Bitkey is great for newbs nice work @jack & team
And a fee rate of 10sat/vb renders all these UTXOs worthless
Custodians and L2s are the future I guess 🤷🏻
Correct - It is part of a leaning process - but a reducing median sats ownership is a good sign.
Smaller sat balances belong on L2 - but a claim to 1000 sats is fundamentally good.
It is merely that L1 is not designed to scale - hence need for L2+
NOT POSSIBLE THAT WE CREATE A UNIT SMALLER THAN SATS?
TX fees will force them to consolidate.
OR ITS JUST A DATA SPACE ISSUE? WHAT IF DATA COMPRESSING TECH IMPROVES? SORRY FOR SO MANY REGARDED QUESTIONS
Surprising.. Love your visuals btw
😳
Yeah, it's called dust. 😉
What are the optimal minimum and maximum UTXO sizes in your opinion? TIA
Que te parece ese dato @lunaticoin?
How does it make you feel knowing that over half of the current bitcoin UTXOs are worth 1,000 sats or less?
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What % of value is it? (Presumably small)
Sounds like dust. It will cost almost that in fees to move.
Very small. Only 444 BTC.
Like I've managed my UTXOs 1,000,000% better than a ton of folks lol
IMO 1,000,000 (0.01 BTC) sats is the lowest I'd have for long term hodling
Fine I’ll take them
Is it because of DCA and some exchanges send it to your wallet as soon as you purchase? And people don't know how to consolidate UTXOs? I feel bad for the plebs that own those smaller UTXOs.
The problem starts with the people not knowing about UTXO‘s
It’s mostly because of shitcoinery.
I think 20,000 nodes is not many. that number should be much higher.
Wait long enough, and that dust will become rocks you can move. Sedimentation will happen.
in the future with dust uxto's unable to move due to tx fees
I wonder if Bitcoin banks will still allow borrowing against them??
View quoted note →
The Shitcoinery called small blocks and high fees.
How so?
Leave while you still can!
Why would you even entertain this idea?
Just use a coin that works. #hijackingbitcoin
Solved? This flaw is intentional!
#hijackingbitcoin
If energy is free the cost of a transaction could be reduced to an extent that dust becomes spendable. If the dollar hits sat parity +-10 years from now miners would happily accept 50 sats to move a thousand. Many of those wallets might be lost after being emptied and keys discarded in the pre segwit days.
It’s not a function of energy cost, it’s a function of block space demand.
Understood, I happen to think that countries and institutions with large trade deals will use secondary layers to settle back and forth and that there will still be times of the year when the network demand slows down sufficiently to freely move some of those dusty sats.
I doubt it but we’ll see.
You are probably right. I just always want to add ideas to the fray. Contrarian thoughts help improve existing theories.
Check this out.
Echdel
Null in void 0.07