PE65: Ordinals & FEES: Macro Bitcoin Perspective
Episode description
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This is the sixty-fifth video installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast, Matthew Mezinskis.
Contents
00:00 Intro
00:53 Latest daily average Tx fees (in dollars)
02:00 Non-base money use cases?
02:33 Use trailing twelve months!
07:40 TTM issuance % (in USD)
14:35 Other base money fees
19:13 BTC's fee % component will be more
20:10 TTM issuance % (in BTC)
Here I look at the average daily transaction fees, in US-dollar terms, for the Bitcoin protocol over its lifetime. Even with the explosion of Ordinals onto the scene these days and the demand for transaction-inclusion (block space) increasing, it does not change the fact that on-chain, mainnet bitcoins - UTXOs - are base money!
In addition, we will roll these transaction fees, over an entire year (trailing 12-months or trailing-365 days), and see how much of a % these fees make up of total miner revenue. Remember, the other (much larger, at present) component of mining revenue is the block reward, or the issuance of new coins.
Prior videos with further info:
TTM fees: https://www.youtube.com/watch?v=a06LVI-BrSU
TTM issuance: https://www.youtube.com/watch?v=nXQIi3JWrcc
Total TTM revenue (BTC): https://www.youtube.com/watch?v=IOmdRTWO6fo
Total TTM revenue (USD): https://www.youtube.com/watch?v=E_FZSRGPb3w
Host: Matthew Mezinskis
https://twitter.com/crypto_voices
Show content is not investment or financial advice in any way.