BLOCK 840,000
So the much anticipated Bitcoin halving is done! the bulls and bears are still fighting it out on socials, but one thing worth noting is that with every halving BTC inches closer to digital gold and farther away from cash/p2p.
The transaction fees have surged almost a 1000% post halving and while some have attributed this to projects like Rune(which was minting on the BTC chain around the same time the halving took place), it is normal to expect that fees will remain considerably higher henceforth as miners will have to rely on this to make up for the decline in the reward per block. What this means is we can expect smaller transactions to utilize other smaller/younger chains or layer 2 solutions while the big boys get to continue using BTC. This will not only discourage the sale of smaller units of BTC(satoshis) but make it harder for BTC to be used for small scale purchases like a cup of coffee, hence pushing it to Gold status as it should be.
Now might just be a great time to key into projects that integrate digital gold(BTC) and physical gold! đ #BTC
