Post
Topic
Board Bitcoin Discussion
Re: Why is there such a strong sentiment against putting data on the blockchain?
by
Bams1989
on 20/06/2020, 07:55:38 UTC
I recently made a post about an idea I had for standardising OP_RETURN outputs such that data may more easily be stored on the blockchain, and I received a lot of resistance and opposition, For me this makes no sense and data storage is one of the killer apps of blockchain.

I get that BTC core people want to protect their precious 1Mb of block space and use it as efficiently as possible, and right now, that probably is the somewhat right approach (like, we don't want the price to tank, right?) I totally get why they don't want tons of data going on to the BTC blockchain and inflating transaction fees, possibly causing the price to tank as it did in the 2018 crash. I strongly believe that this crash was mainly due to the fees, as it coincided perfectly with the upper TPS limit.

Interested in hearing people's take on this.