[everfree]

> the highest btc transaction-fees are public record and have (very rarely) ranged into the 10s of thousands of dollars

That's not representative of the market rate, so is irrelevant to the discussion of whether fees are cost prohibitive.

For example at the same moment in time as the guy who accidentally paid a $500,000 fee (in the same block), you can see a bunch of transactions that went through with $2 and $3 fees. Yes that's still high in a relative sense, but it's not tens of thousands of dollars.

To determine whether corn is cost-prohibitive, you need to go by the market rate, not link to a top-10 list of the most overpriced corn purchases ever made.

[Fraterkes]

Sure, I agree with that. But I think the point in the video, that coins that pretty regularly have transaction-costs in the tens of dollars are an unreliable medium for transactions smaller than hundreds of dollars, still stands.

[AlchemistCamp]

No it doesn’t, because at that time $2-$3 was enough to get your transaction included in the exact same block.

One person unilaterally paying far above the market-clearing rate didn’t significantly change what others needed to pay.