Re: [ANN][XCP] Counterparty Protocol, Client and Coin (built on Bitcoin) - Official
I think you are making great points. Only I still can't find any esteem for the 'implicit' and 'social contract' arguments - if extra data storage is bad - then why not charge extra fees for OP_return proportional to their burden on the network - there is no absolutely no conclusive logic behind 'these types of transactions are part of the social contract' 'these types of transactions are not' - it's just political posturing - it's like if someone came out to tell people that the Internet was designed for X and not for Y: ergo should not be used for Y.
If his Freimarkets proposal is better than Counterparty, than he can implement it and market forces will decide which is better.
If his Freimarkets proposal is better than Counterparty, than he can implement it and market forces will decide which is better.
The problem is that Bitcoin's current fee model is definitely "less-than-ideal". It is both static (i.e. non adaptive) and does not compensate full node operators who store the data. This whole debate, I suspect, is a consequence of that. The model can be adjusted, and there has been copious amounts of talk on doing that, but to the credit of the core devs, it's quite hard to change a flat tire on a five ton dump truck going down the road at 70 miles an hour.
