You’ve just invented Bitcoin Cash.
Discussion
No.
I'm not advocating for that.
But Satoshi is on record saying the blocksize would become an issue eventually. And the ordinal issue is real. Sort of a loophole/oversight.
I LIKE that Security and Decentralization were prioritized over Scalability... but I think something can be innovated to help alleviate high network fees.
Would he sensible to figure it out. While also keeping digital space minimal thereby allowing a maximal amount of full nodes.
But you sort of are.
I'm saying I believe that transacting on L1 shouldn't be overly expensive and prohibiting for those who need it most and I believe there is a solution ready to be discovered and implemented that doesn't cause digital space to increase more than marginally.
Also the ordinals clogging up space is an issue as well as it was an unintended oversight. I'm not against inscriptions... but it's having impacts.
Outright increasing blocksize is the last resort option. But if L1 continues to exponentially get more expensive, it ceases to be a P2P network that plebs use.
I'm all for L2 solutions, but still believe L1 should be usable by plebs.
The free market will sort it out. Zero concerns.
Yeah, that's BCash.
No not at all. I think there's an alternative solution that can be created w/o increasing blocksize outright. I believe an innovation is possible and a solution to the inscription issue as well. Bcash was an overly simplistic solution that compromised security.
L2 is working and gaining traction and hopefully L3 does too.
It’s not just about prioritizing decentralization. Decentralization IS the innovation with bitcoin. Without it there is no point in having bitcoin. Decentralization is why there will only ever be 21 million bitcoin, it’s why the consensus protocol is resistant to being changed, and why the ledger of transactions is immutable. Increasing block size increases centralization. This is not a new debate, and it absolutely resulted in hard forks of bitcoin. You seem to be talking out of both sides of your mouth on that point. As for innovating something to alleviate network fees, it has been created— the lightning network. And other layered approaches are being created too, such as ecash/cashu.