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344 sats \ 7 replies \ @kruw 15h \ on: Chris Guida debunks the core narrative bitcoin
If we do not impose any additional costs on people trying to use bitcoin as a general-purpose database, such use will absolutely drown out payment use cases, especially merchant Lightning nodes which, at the moment, are bitcoin’s most important payment use case.
What a retard. Empty blocks are being mined, how could he possibly reach the conclusion that these Bitcoin database users are "absolutely drowning out payment use cases"?
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20 sats \ 6 replies \ @LibreHans OP 15h
You're misunderstanding the argument, Chris is not talking about current block space but about incentives and markets. What he actually argued: demand is unbounded, a point made by gmaxwell in 2015 or so. E.g., anybody on the planet who needs to store data forever can now do it more easily in bitcoin.
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223 sats \ 5 replies \ @kruw 15h
demand is unbounded
That's why we fought a block size war in 2017 to limit supply.
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182 sats \ 0 replies \ @freetx 11h
That's why we fought a block size war in 2017 to limit supply.
Well....the result of SegWit actually increased the limit by 4x during that time. However the popular narrative tends to ignore that. I often wonder if miners today (with extremely low fees) have benefited or been harmed by that....hard to know....
but filters don't work
That argument is actually immaterial to the larger point. Such a concession to data-storage in core is a signal that developers agree with that use case.
What you incentivize you will get more of....
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0 sats \ 3 replies \ @LibreHans OP 14h
The limit doesn't ensure the space is used for electronic cash
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121 sats \ 2 replies \ @kruw 14h
Correct. If you want to ensure the space if used in a certain way, then you can enforce that with your node and fork the blockchain.
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10 sats \ 1 reply \ @LibreHans OP 14h
Ah, so you're in the filters don't work camp, when the evidence show they do, like Chris explained
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0 sats \ 0 replies \ @kruw 14h
Filters don't work, here's proof:
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