if bitcoin has low fees
and it is easy to use
everyone worldwide will start using it
a cult holds it hostage. it is in denial driving the value down
Discussion
What cult?
the cult which holds it hostage. the propaganda that it is working as intended which is not.
it was created as p2p money, not as a transport tool for silly jpegs.
p2p money needs to be easy to use, secure and needs to have low fees.
the cult does not see that this is connected to the value, the purchasing power
Fees are reactive to block space demand.
People including files in their signatures during transaction are consuming more block space, and paying the fees resulting from such pressure.
The inscriptions done this way are the most efficient use of block space when compared to alternatives..
- multi output using amounts to convey data
- multi output addresses as data
- multi op_returns
- implementations like counterparty and stamps
Inefficiencies get introduced by misguided use of it for things like brc20 and brc30, which may be much smaller transactions, requires far more making them impractical for their intended purpose.
Just cant stop people from doing things with tools that it wasnt intended for.
I'm concerned about this ordinals nft beanie baby crap.
But the nodes can shut it down if there's enough consensus that it's hurting the value of their Bitcoin. That's how Bitcoin is designed.
I think we all know that this scammy ordinals crap will ultimately blow up in people's faces.
The issue is protecting and isolating Bitcoin from as much of the BLAST! wave as possible.
I'm thinking about dropping back to a pre Tap Root version of Bitcoin Core. Until there is a patched version of Tap Root that fixes the ordinals beanie baby bug.
I realize that Bitcoin is being artificially suppressed by outside interest, and it's especially hard on over leveraged miners.
Some Bitcoiners feel the temporary risk and expense is worth the benefit. They may be correct. But if they're mistaken Bitcoin must be protected.
So that's my plan. Join me. Your mileage may very..💻💎🧡👑🦅🚀♾️🤠🗽💪😁