this post was submitted on 27 Apr 2024
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When someone sends a Bitcoin transaction, they must include a transaction fee for it to be processed by miners and added to the blockchain. If the amount of Bitcoin being sent is relatively small compared to the transaction fee, it can result in a situation where the fee consumes a significant portion of the value being sent.

In the context of the statement, it's suggesting that individuals who have accumulated small amounts of Bitcoin in various UTXOs (each less than $20 worth of Bitcoin) may find themselves in a predicament. Since the transaction fees are often proportional to the size (in bytes) of the transaction, combining multiple small UTXOs into a single transaction could result in a fee that exceeds the total value of the Bitcoin being sent. This would essentially render those small amounts of Bitcoin unusable, as the transaction fees would absorb their entire value.

The sarcastic remark "such a amazing technology" is likely meant to express irony or frustration with this aspect of Bitcoin's design, implying that it's not as amazing as it's often hailed to be if it renders small holdings effectively worthless due to high fees.

https://bastyon.com/casbt?s=84575c40a7e6a34c24591c1ef33ea8bb6ec752500645c8e76c241eb610323832&ref=PSxywSgLV57vexgFjnFM5w5RA4BJp6qjG4

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