The whole concept of Bitcoin being the cheapest payment system already got ruined after 2017. Then came a time when institutional investors started buyin Bitcoin and we saw a new ATH. Everything was looking good until these guys, ORDI started utilizing the infrastructure for their own shit agenda.
I'm curious where did you read "the whole concept of Bitcoin is cheapest payment"? I didn't find it through the whitepaper.
I guess this is what we need to expect if most of Bitcoin is already mined and mining no longer profitable, I don't think the miners are fine to accept loses just to make people can able to proceed their transactions.
Sooner or later we will be forced to use L2.
Mining will always be profitable. It's a self regulating system, when it becomes not profitable the least efficient miners have to drop out and it becomes profitable again.
And of course we'll all be using L2 eventually. Bitcoin wasn't made to handle massive amounts of transactions. Bitcoin only works for payments on L2. On-chain is for moving lots of money around or for batching many transactions-to-one either through crypto companies batching transactions or through effectivecly batching transactions by using L2, where presumably there will be thousands of transactions for every one on-chain transaction. Anyone who understands how Bitcoin works understands this.
Bitcoin wasn't made to be cheap, it was made to be self-banking, decentralized, censorship-resistant, secure, unstoppable, digital hard money. Cheap transactions were just a side effect of Bitcoin not be used much the first few years. As Bitcoin grows naturally 99%+ of transactions will be done on L2 and other off-chain solutions because paying for stuff needs to be cheap but that's not what the blockchain was made to do.
