Replying to Avatar Crizzo

Alright, so if the node is never seeing some transactions it still effects estimation even with the current method. That alleviates some of my concerns about the argument being completely fabricated.

I still think mechanic has a lot of good points though. Having perfect local fee estimation doesn't seem like it's that important when it only theoretically matters in some extreme edge use cases like justice transactions. Is it really worth opening the floodgates to relaying around infinite op_returns for slightly better fee estimation?
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Murch 7mo ago

The main reason to do it is the same reason as 2013: it's preferable for people to write into op_return outputs than into unspendable payment outputs. Dropping the limit makes OP_RETURN a reliable replacement for the latter which is currently standard and essentially unpreventable.

Data in OP_RETURN is significantly more expensive than data in inscriptions, so I have a hard time understanding the concern that the overall block space occupied by data transactions would increase.

Whether more should have been done about inscriptions seems like a separate debate that mostly muddies the water here.

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VOLKER - Voice Of Logic Knowledge Experience & Responsibility 7mo ago

Also: more data in OP_RETURN drives out data in witness part by 3:1, so blocks would tend to get smaller again, right

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Murch 7mo ago

Witness data is discounted by a factor four not three, but yeah, OP_RETURN data takes more blockspace and is more expensive to the same degree. Either way the sender pays for whatever blockspace they win the bid on.

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Crizzo 7mo ago

Why would they use op_return to store data then if inscriptions is cheaper anyway? Out of the goodness of their hearts? Something needs to be done incentivize them to make the switch, no?

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VOLKER - Voice Of Logic Knowledge Experience & Responsibility 7mo ago

Payloads over ~140 bytes are cheaper when encoded as witnesses, smaller ones cheaper as OP_RETURN.

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Crizzo 7mo ago

Mechanic says that inscriptions are an unintended consequence or a bug of Taproot. Why are we capitulating to this bug and not trying to fix it? Is Bitcoin permanently and fundamentally alerted to no longer be narrowly focused monetary network, and now it's also cloud storage for anyone willing to fork over the sats for blockspace? I get that it also enables a lot of functionality and novel scaling solutions, but it seems extremely risky to me. At least inscriptions are more onerous for the data hoarders to inscribe and reconstruct in order to access their data. If we let them put data on the Blockchain in its raw form that could be inviting even more problems than it solves.

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Crizzo 7mo ago

Also I understand they can do it anyway by going OOB directly to miners. Doesn't mean we should make it easier.

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Murch 7mo ago

That's where we disagree. We should make the benign way of writing data easier so they stop using the malign one.

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Murch 7mo ago

It's not a bug. Dropping the script size limit is an intentional design decision. As BIP 342 says:

"Why is a limit on script size no longer needed? Since there is no scriptCode directly included in the signature hash (only indirectly through a precomputable tapleaf hash), the CPU time spent on a signature check is no longer proportional to the size of the script being executed."

You could always put data in the block chain by paying for the block space. The DoS protection was always the block size limit and blockspace market: it's expensive and people stop doing it whenever the hype has jumped the shark.

Could you elaborate how "inscriptions are more onerous for the data hoarders to inscribe and reconstruct in order to access their data"? Serialization and deserialization of data is a standard exercise that gets designed once and then used per a library. Why would they care which function they call on a library?

Could you tell me more about the concern you have when you say "if we let them put data on the Blockchain in its raw form that could be inviting even more problems than it solves"?

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Crizzo 7mo ago

First I want to say thank you for taking the time with me. I am very clearly beyond the limits of my knowledge here, so if what I'm saying doesn't make sense that's probably why. I am basically a computer sciences dropout.

I don't think there's much point in me trying to answer those questions because I don't know what I'm talking about there. These little details don't really matter to me anymore anyway.

At this point I'm pretty much on board with letting the fee market decide what is the best use of limited blockspace. The monetary use is clearly the most valuable use by a longshot and will dominate so let's just get on with it. Filters seem to be mostly performative nonsense if the node still confirms whatever the miners send them. I can't imagine that's really what's been holding back a tide of shitcoins and jpegs that will destroy Bitcoin.

Thanks for taking the time Murch. I at least have no doubt about your good intentions.

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Murch 7mo ago

You're welcome, and that's what I think mostly as well: (high-value)monetary transactions will have the highest bidding power in the long run and that's what will curb the data transactions. Thanks for being open to hearing various sources.

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Murch 7mo ago

Yes, that's correct. Small data payloads get slightly cheaper. It just seems that people are much more concerned about big amounts of data and those are significantly more expensive with OP_RETURN. Either way, data occupies whatever blockspace the transaction bids the premium for.

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Crizzo 7mo ago

Have inscriptions been a risk for 12 years? Why did they only materialize two years ago? Taproot? I'm just trying to understand the history here.

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Murch 7mo ago

Theoretically you could have done the same reveal truck with p2sh, but the redeem script had to fit into a single 520 byte push. Segwit introduced the witness section and witness discount, Taproot removed the 520 byte limit for witness stack items. Altogether, you could then do big scripts for less in the witness.