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35 sats \ 1 reply \ @anon 13 May
It's unfortunate that a lot of bitcoiners still like to appeal to authority.
Peetard Todd was also on the right side of the blocksize war which doesn't mean that his opinion is worth more than 80IQ plebs who have been actively speaking against spam on #bitcoin and running knots.
TAKE GMAX'S OPINION AT FACE VALUE AND YOU WILL REALIZE THAT HE IS COMPLETELY WRONG ON THE SPAM TOPIC.
DO NOT APPEAL TO AUTHORITY.
THIS IS COVID EQUIVALENT IQ TEST FOR BITCOINERS.
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It's also unfortunate that a lot of bitcoiners still like to appeal to ALL CAPS HYPERBOLE.
Chill, bruh.
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Appreciate how clearly Mechanic laid this out. Even when I don’t fully agree, it pushes me to think deeper about the foundations.
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I never understood why witness data got a discount with segwit. Seemed to be an unnecessary change when the 1mb crowd seemed to have won.
Now that fees are so cheap I'm considering blogging straight to the chain.
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It got a discount to allow for the cheaper batching of transactions. My understanding is that transactions to and from exchanges... needed to be cheaper and a 'compromise' needed to be found. So... the witness discount allowed cheaper batched transactions (with exchanges or otherwise) plus anything to do with Lightning which is inevitable for scaling to happen anyway.
That's why the discount. IMO the current bout of spam will pass, people will get bored and move on, people will 'waste their sats' on nonsense get-rich-quick crypto schemes... and the people using Bitcoin 'as money' (which not enough people are doing anyway see the fees) will be fine. People gambling their sats on memecoins... will have fewer of them, run out, and get bored. The end.
Anything else is noise in my opinion.
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