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RE: Could bitcoin be a good long term store of value just because we say it is?
I've read about people arguing that it's important for bitcoin to evolve a fee market in order to include the storage and bandwidth resources it takes for nodes to maintain the network and validate transactions. I haven't read any comments saying categorically that the higher the fees the better. Could you please link the source? Who is defending high fees categorically?
I didn't say that a lot of people categorically thinks that high fees are good - but many people think "it's nothing to complain about". I quite much disagree with that.
The argument "we need a healthy fee level so we'll still have miners keeping the network going on when the block coinbase reward drops to 0" comes up every now and then; one thing is that miners still will enjoy coinbase rewards for an "eternity", another aspect is that to ensure a big fee income in the future, it's important to grow adoption and transaction volume today, rather than to just grow the fees. This ought to be quite obvious. I've touched on this in my bus analogy article.
lightning network almost ready, will solve that problem for bitcoin...go see my post.......thanks....https://steemit.com/bitcoin/@slygag/lightning-at-last-bitcoin-scaling-layer-almost-ready