Replying to Avatar Derek Ross

Ordinal Inscribers are now paying Bitcoin mining pools to construct blocks for them with zero or minimal financial transactions, so that all of their images get inscribed in sequential order. They are not using the normal block construction methods. They are including these in the next block over the counter or behind closed doors. This has happened 3 times so far with 3 different pools. Luxor, Foundry, and the latest one was from Terra Pool. These out of band blocks are creating a secondary marketplace outside of Bitcoin's normal block construction methods. Miners are now talking about selling blocks before they are found. Thoughts?
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The Merkle Treehouse 2y ago

Bull markets fix this.

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Another person of uninterest 2y ago

No, it makes it worse. WAYYYYYY worse.

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The Merkle Treehouse 2y ago

Mining pools are incentivized to artificially inflate the fee market, whether onchain or not, especially in a bear market.

a1
Another person of uninterest 2y ago

Shitcoiners are way more wealthy, numerous, susceptible to FOMO and willing to accept high fees in a bull market. By orders of magnitude.

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The Merkle Treehouse 2y ago

Yes it sucks but at least they are helping to subsidize miners.

a1
Another person of uninterest 2y ago

Don't get me wrong, they wanna pay for chain space ... they go right ahead.

I have nothing against it. Wanna subsidize miners, fine by me.

In fact it messes with pool incentives and might improve miner decentralization.