To all the smarter people than me:
Are these jpegs and the high transaction fees a problem for #Bitcoin? How do we solve it?
Discussion
We wait. They will be priced out as the "weight" of their transactions will increase exponentially.
If it costs a "normal" transaction of 1sat/vbite about 1 cent, and an ordinal transaction 20 cents. Then when it goes to 2sat/vbite it will be 2 cents and 40 cents and so on.
I think someone just made a transaction to mess with the numbering on ordinals. It’s a new transaction that’s got no sats in it. They have also release some tools to help others do the same.
I don’t know who is smarter than who.
But I think in the short term is a “problem”. In the long term Bitcoin doesn’t gives a fuck.
One day huge banks and governments will use the scarcer and scarcer block space and plebs will be forced to use layer 2. That will raise the fees and pay for the network security when the miner reward is little or none. It’s not bad. Let the gamble, loose their money, and continue your stacking.
Nothing is bad for bitcoin