𝐓𝐗𝐌𝐂
𝐓𝐗𝐌𝐂|Jul 08, 2026 06:04
If spam on Bitcoin was actually crowding out vanilla activity, we should expect to see greater competition on fees, and a widening spread between the average and median sat/vB paid per transaction. But we see exactly the opposite. Runes have grown their share of fees very recently while the 🟢spread between average and median sat/vB continues narrowing steadily. Because there is no competition. Thus the spam is not crowding anyone out as there is little demand for blockspace. Median fee is in decline to all time lows. Mempool congestion has fallen to lows. The data is glaringly obvious that there is no urgent spam problem. If there were ANY meaningful competition for block inclusion, we would likely observe spammers being crowded out by others who place a higher premium on their activity. We have observed this before. These data points, along with falling long term node hardware costs, storage costs, and internet transit pricing, conflict with the emotional and ethical appeals made by the BIP-110ers. Any time I have pointed them out to the anti-spam folks I have heard only crickets. Reality can be tough to deal with.(𝐓𝐗𝐌𝐂)
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