Nostr Web Client

My take on Ordinals:

1 sat = 1 sat and coin collectors didn't destroy Fiat. It's a drop in the bucket.

NFTs are a distraction and the real value comes when important information becomes engraved uncensorably for future generations.

Full Blocks were bound to happen eventually. I'm continually excited to see Layer 2 development

Massive Block Size seemingly can be clipped so it should effect the ability for anyone to run a node.

I'm hear to learn. If I have any of this wrong, please provide context. 💪🧡🤝

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Discussion

npub1am8lycvljp52vmntfvcqcqxvzsyrjegk9a632m7z2dfwzvd8wazqv7vt9v 2y ago

💯

Ben Justman🍷 2y ago

Shouldn't ***

rev.hodl 2y ago

I agree, the there is still a small wonder in the back of my mind if an nft pump and dump mania ensues is there a possibility for another chain split? If that happens what's the best strategy? Hold on to both stacks until the dust settles? What did most do in the BCH fork? Dump one or the other right away?

Ben Justman🍷 2y ago

Why would that necessitate a chain split?

rev.hodl 2y ago

If the nft transactions outbid the financial ones, especially if it becomes common to pay fees in oob transactions to do the inscriptions and they are sold for dollars instead of Bitcoin. I don't think it's likely and if it happens probably won't last long but some folks already seem to be very adamantly opposed to inscriptions. If fees go way up opposition might grow large quickly and lead to irrational behavior. Mania

Ben Justman🍷 2y ago

Reasonable take.

rev.hodl 2y ago

Basically, an environment where price stays low and fees go up because outsiders are focused on fiat gains.

captain ☦️ 2y ago

The issue with block size is bandwidth, not storage.

Ben Justman🍷 2y ago

Can you elaborate?

captain ☦️ 2y ago

The limiting factor for nodes is that nodes with too slow of a data connection cannot keep up to date with the blockchain. Storage is cheap and portable, bandwidth requires expensive infrastructure.

Captain Sarahtoshi Nakamoto 2y ago

I always forget about bandwidth... ZAP!

Ben Justman🍷 2y ago

Ahhh ok. I'll have to learn more

Captain Sarahtoshi Nakamoto 2y ago

I still have so much to learn. When nodes compare chains, do they compare entire chains? How much bandwidth is required for that?

Jacob 2y ago

The biggest problem with inscriptions is that they abuse the segwit witness discount in a way that is opponent to it's intent.

If CISA is soft forked, the discount should be removed or reduced by half.