See below...
Discussion
Okay but I am not talking about ordinal inscriptions, I’m referring to where you stated that Satoshi had an “expectation was that there would always be people willing to process some transactions for free”. That is simply not the case. The way the network has been built from the very beginning, as per the white paper, is that every transaction is processed with a network fee. The fee changes based on market demand. I personally agree that ordinals are a waste of use case for Bitcoin, however just because I don’t think they are important does not mean they are not valid transactions still. Inflated, sure, but still valid.
TLDR; regardless of inscriptions, Bitcoin always had transaction fees.
You're mistaken. We did not have transaction fees in the beginning. I was there.
It was Satoshi's expectation that some transactions would always be processed for free.
I'm not sure what the solution to this problem is. But I'm sure one can be found.
Nodes have always had the power to blackball bad actors. Aka filtering.
Maybe all we have to do is provide miners with good tools to filter out garbage. Then hold them responsible if they don't.
Something has to be done. And we should keep pushing until it is done. Clearly I'm not interested in doing anything that would hurt Bitcoin.
Unfortunately many miners are cutting off their nose to spite their face. Wall Street..😐🧡😊🦍
Can you show me exactly where that’s stated? The white paper mentions transaction fees, and nothing about transactions being free.
$boost
"We should always allow at least some free transactions." -Satoshi Nakamoto..🧡😊
#Bitcoin #Fees #Satoshi #Nakamoto
https://satoshi.nakamotoinstitute.org/posts/bitcointalk/439/
Wow, thank you for sharing. So does this mean in the pure early days of Bitcoin post genesis that a majority of transactions were being validated for free? Is there still a threshold where this happens presently or is every transaction in each block from square 1 fee inclusive?
$boost
I don't remember there being any fees in the early days. There were some changes made. But I don't really know that much about them.
I had to step away from #Bitcoin around the end of 2010. When apparently #Satoshi did too. I had to attend to some other things for a while. Things got crazy for me.
But I continued to run a full node, and try and keep up. I realized from day one that Bitcoin was important, and I would have to do my part to see to it that it succeeded for the greater good.
I fought in the block size #wars, and several other skirmishes. Today the challenge is to finish implementing #Satoshi's design.
Making sure that some Bitcoin transactions will always be processed for free. Plus the implementation of micropayments.
We also have to hold miners accountable to filter out spam and illegitimate non-financial Bitcoin transactions.
I'm not sure how we can do all this. But it will have to be codified into the protocol. And enforce by The Virtuous full nodes, and the Bitcoin loyalist.
So that's my story, and I'm sticking to it..🧡👏👍😊🦍
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