PE65: Ordinals & FEES: Macro Bitcoin Perspective

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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://porkopolis.io

https://twitter.com/crypto_voices

Show content is not investment or financial advice in any way.