Further, #ordinals #artificially increase #transaction #fees and are a form of theft, fraud and larceny. Not only are they a threat to #Bitcoin. But they have actually caused millions in damages to #Bitcoin owners..⚖️👮♂️🗽
Discussion
“Artificially increasing fees is theft and larceny” is a ridiculous equivalency with all due respect.
They just paid fees for something stupid, and fees have to grow on the base network anyway. It was very inconvenient, but that’s all it was. No one is guaranteed any fee price at any level of the system. It’s an open, permissionless market.
You read a lot, however not understood. Not sure if your own synthesis or someone’s else.
Permissionless market to make bitcoin transactions, not to enter arbitrary data on the chain.
👍🙂🧡👑🗽
That doesn’t make it theft or larceny. That’s absurdly melodramatic. I completely agree that it’s a extremely poor, and retarded use of the chain.
I still think my analogy “pooping in the park,” is the proper framing. It’s not going to kill #Bitcoin, it isn’t some existential threat, it’s just a shitty thing to do and it’s annoying.
nostr:npub100mahqlhxg50thmt5dyynu40nl25hat9kkkknzk8pqjfkvgq0xsqtdfyy5
Nothing more to address to you, Guy:
I don't have much else to add, besides urging nostr:npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpev to take a closer look at the impact that BRC-20 tokens are having on the UTXO set: https://github.com/bitcoin/bitcoin/pull/28217#issuecomment-1666801219
its a valid transaction and they paid the fees to make it. the only thing that fixes ordinal inscriptions is higher value transactions with higher fees. this fad will get priced out when they get bored or run out of sats.
The fee argument does not hold up. Do you run a node? Have you seen the consequence on this one?
i run a node. i'm not sure what you're saying "doesn't hold up" or what i'm supposed to be seeing in my node to prove your point. what's the consequence?
What I mean by this is that it is not because they pay fees that we should let them undermine the network.
Since the inscriptions arrived, the UTXOs set has been increasing at a very high speed, which threatens the nodes with low resources.
You can see it right here: https://statoshi.info/d/000000009/unspent-transaction-output-set?orgId=1&refresh=5s&from=now-1y&to=now&viewPanel=8
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Inscriptions are a #backdoor and a #frontdoor to #fuckup #Bitcoin. They're an attack on Bitcoin and the Bitcoin protocol. They have to go.
The security and the robustness of Bitcoin is based on basically everyone having the ability to run a full node.
One of the many reasons that #ethereum is fucked is because very few can afford to run a so-called #ethereum node..#Bitcoin 👑🗽
We have to call for an immediate #suspension of #inscriptions so we can reevaluate the cost benefit ratio of allowing them in the Bitcoin protocol.
If #Bitcoin core refuses to act. Then I call on those of you that can to suspend or strip inscriptions from the code. Then test and release to the community, ASAP
Until Bitcoin core can get it's #shit together..🧡👑🗽
I can't get the link to work. But I'll try again later..
It's an open permissionless market for #Bitcoin #financial transactions Only! That's what Bitcoin is.
#Public roads are for public transportation. Not to provide easy access to bank #robbers.
What they're doing is illegal. It's computer crime. It has nothing to do with #Bitcoin or free markets.
Anyone will tell you this is an attack, and Bitcoin is vicious when attacked..💀😋⚖️👮♂️