Guy apparently you have not understood the topic. When you write “ordinals” and confuse it with “inscriptions”, then you are showing the need of move brainstorming on the issue.

“Ordinals” is, indeed, not a threat at all for the Bitcoin System; that is just an arbitrary numeration FIFO for issued UXTOs via coinbase transactions.

“Inscriptions” are insertion of arbitrary bits in the witness structure and consume storage. The thread is slowly (so slowly that a frog will not notice; maybe not even when it is too late). The thread is incrementing the operational and equipment cost for non-mining nodes. You can clearly imagine what could happen when the number of non-mining nodes around the globe is reduced. Can you imagine that, right?

I’m interested to know, which “solution” have you heard about and what are the chance/risk or benefit/cost you have assigned to those proposals.

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Well said..👏👍🙂

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..⚖️👮‍♂️🗽

“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.

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

I’m aware of it. This is the major concern I bring up in the few episodes where I go into it. Thanks for the link though, I’d lost some previous discussions and will save this for later.

Happy to help 🫡

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

nostr:note1xg5840zzucmct9lgq3rmclj0xcuff4d88taxsgf8dc7rj37cmt2smf74ka

Ah, I see your point. That part is an issue for sure.

Well then.

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..🧡👑🗽

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..💀😋⚖️👮‍♂️

Yes I used “ordinals” but meant inscriptions. People use them interchangeably so often on the bird app that it got stuck.

And yes I’m perfectly aware of the cost to nodes, it’s not as if this wasn’t hotly debated for half a decade during the blocksize war. It increases the UTXO set arbitrarily (which can be mostly mitigated by something like UTREEXO), and the storage costs of the chain.

I explore it all and the level of the risk I think it implies in my episode “pooping in the park.” (And a few others right around it) As well as supposed solutions and why they are either far too risky or ineffective. I don’t have time to go into an entire thread on this though if we are starting at “do you know it makes non-mining nodes cost more?” This just isn’t that important, imo.

For sure not. More important are the sponsoring and the businesses. As long as you create value, go ahead with the entrepreneurship. 👍🏻

Dude.

Computers are faster than ever

Meanwhile, SSD storage price dropped 50% just few months ago, as it does every 2 years lately...

1TB is enough to run full node for fow more years and costs 50$,full pc capable to run the node is maybe 150-200 USD?

When you consider the USD is losing value and PCs get cheaper dispite that, I'm nto afraid for the next 10 years.

Also as we've seen, most blocks lately are barely above 1 MB, usually 'up to' 2MB only. At this rate, the storage needs are not gonna grow as quick as you might fear...

Dude

Economics and technology is so predictable like your trading at exchanges; just apply classic physics.

I don't gamble.

But I can for sure telr you that next 100k blocks will not be more than 100k x 4MB,and likely much less than that (as we can clearly see lately).

That's why I stand by my statement, that I'm not afraid on chain bloat in the foreseeable future.