Volumes and fees are way higher than a decade ago. Over the past five years, Segwit, more use of batching, and reduction in the fad of op return usage all put downward fee pressure while volumes rose. If volumes keep rising without more changes, then fees should be higher still in a decade, and then higher in another decade. If they are not, then what we have on our hands is an adoption problem. Those who argue that fees will stop growing and become insufficient, even when the network is currently 1/100th the size of Fedwire and growing over time, have the burden of proof here.

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Hoshi's avatar
Hoshi 2 years ago
This sounds reasonable from a developer perspective. From an analyst‘s perspective it does not matter who has the burden of proof. Do you have thoughts on the impact of layer 2s on the long term fee development? That question is too hard for me.