Re: On Ordinals: Where do you stand?

I started a new 1 sat/b actual Bitcoin transaction yesterday. Lets see how many days the current spam wave will make me wait... Remember, it used to be 2~12 hours before Ordinals and friends invaded.

I would have set that transaction at 2 sat/bit at least, considering I have been noticing some important accumulation and delay on those that have opted for 1 sat/bit. Nonetheless, I am confident enough that this weekend we could see a significant drop in the mempool memory and the cheapest transactions could go through without much problem.

If there is no reduction, then next week would be one of high fees, similar to what we witnessed in mid February. Sad

This year, I believe we will truly start to understand the point of RBF and the fee market. It will not be the perfect situation, especially for those coffee-transactions, but with censorship-resistant, unstoppable money will come a price. I'm starting to understand that if it's not Ordinals, it's going to be another situation that there's more demand for block space. Maybe if there's more demand for payments in Bitcoin perhaps?

I believe one needs to understand the point of view of Artemis3 and people who agree this is spam. If we talk of Bitcoin as "free money" or a P2P payment system. Then where do the NFTs/ordinals find their place in this concept? Or isn't Bitcoin to be a tool to transfer value rather than a decentralized storage for thousands of pictures?

My personal opinion is, we may have our own opinions about it, positive or negative, BUT calling for its censorship is going against the ethos/philosophy that founded Bitcoin, and brought it where it currently is = Permissionlessness/Censorship-Resistance.

But the problem = it opens an attack vector for self-sustaining network congestion.

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While I agree RBF is useful, one should not expect it to be an ultimate solution if one wants to pay something in a reasonable period of time. Specially in countries where each dollar counts.

I wasn't debating the fact that it will be expensive, or some users will be priced out. I was merely saying that censorship-resistance and decentralization comes with a price. Are you willing to pay for it? Or do you want PayPal?