0 sats \ 1 reply \ @random_ 16 Jan \ parent \ on: Opinion: Spam can't cause high fees - Thriller post bitcoin
Bitcoin fees respond to demand.
No matter what the fee rate is, spam tx's can consume 3x the data of a regular transaction for the same cost.
So you are also saying that the economic value to create an inscription is higher than the economic value of using bitcoin as money.
No. I'm saying that:
  • spam tx's are cheaper than real tx's. (segwit discount)
  • spam tx's have a marketplace. real tx's do not. (spamchain flywheel)
  • even if spam makes money, it's still spam. (duh)
It implies that there can be absolutely no merit in the use case without actually making an argument about it.
You cannot verify exogenous data using Bitcoin, so what is the use case? To enable grifters to sell shitcoins/nfts.
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21 sats \ 0 replies \ @Scoresby 16 Jan
I will rephrase it:
The economic value of creating three inscriptions is greater than the economic value of one transaction that uses bitcoin as money.
The rest of my argument still makes sense.
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