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5 sats \ 1 reply \ @0xIlmari 6 Dec 2023 \ parent \ on: Luke Dashjr said that Ordinals & BRC20 will no longer exist on Bitcoin. bitcoin
Who put you in charge of saying what "bloat" is? If people are willing to pay for this, it gets in. We came to this revolution because we like the free market of fees regulating the network, protecting it from spam, in fact.
It is inevitable that fees will go up because at the margin (in a century or so) miners will only make money this way. Fighting it is just delaying the inevitable. Luke would do better to help work with what we've got, like better throughput on L1 through more space-efficient tx signatures or a more robust L2.
Welcome to SN, btw.
I put myself in charge of what goes on my node. I'm paying for the hardware. The node running community, in consensus, is in charge of what belongs on the blockchain and what does not. That is not you either, and neither is it the 'free market'.
Bloat is obviously non-transactional data. BSV adopted this model of 'putting anything and everything on the blockchain' and it served them extremely poorly.
You might not mind $15 transactions, but when bitcoin really takes off, it's going to be 10x that. Fees will get out of control someday, but the sooner it happens, the sooner the average person is priced out of self-custody and we enter a whole new era of bitcoin. The longer we put that off the better.
I am deeply interested in doing what is best for the health and strength of the bitcoin network. It seems obvious to me that BRC-20 and Ordinals are an exploit of an unintended oversight, and if they were foreseen, they would have been patched out by Core before they materialized.
Why on earth would you defend them so passionately anyways, unless you're using them to your personal gain, by buying and dumping junk assets on the public? These are shitcoins.
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