Quote from: be.open on May 08, 2023, 12:36:21 PM

Quote from: Wind_FURY on May 08, 2023, 11:41:55 AM

Quote from: be.open on May 06, 2023, 02:36:26 PM

Quote from: Wind_FURY on May 06, 2023, 02:14:46 PM

But that's the "problem" with Ordinals, some of those being built, and communities formed, might be incentived to keep "spamming" the blockchain because some users found out that dick pics/fart sounds are valuable, and they could make profit from them. It's not a real problem by itself, but it's definitely an inconvenience for users who want to use Bitcoin for financial transactions.

For a user who sends a dick pics or fart sound hoping to make a profit, this is also a financial transaction. And he paid the current actual price for its inclusion in the blockchain. This use case of the bitcoin network seems unusual to you, but this does not make it wrong. Don't worry, bitcoin has already proven itself anti-fragile enough not to break at the sound of a fart.

It doesn't change the fact that it has become very inconvenient for the rest of the participants. Because they merely wanted to make a profit? Blockstream's Liquid Network is better for what they're trying to do because it will give them lower fees, and a higher transaction throughput. More savings = more profit.

But it's not their fault, they simply don't know. I believe Blockstream should start marketing and let developers and users know that they can also build their network of dick pics in Liquid. It's probably the same situation when developers built Ethereum off-chain layers which has seen increased usage.

I think it is useless to appeal to the voice of reason when there are an abnormally large number of idiots in the market (in the sense of non-professional players). This seems to be a sure sign that we are now in the vicinity of the local maximum of the bitcoin market price and a crushing collapse will soon follow. Please do not take this as investment advice.

The good news is that after the crash, fee prices will be low again, without any soft fork.

It's not an appeal. It's merely economics and market efficiency. It's either they run out of money first before finding better solutions, or find the solution before they run out of money. Because from a technical standpoint, "BRC-20" is a stupid solution to having "fungible tokens". Use Liquid, or Counterparty.

Quote from: franky1 on May 08, 2023, 06:22:07 PM

Quote from: dragonvslinux on May 08, 2023, 06:13:41 PM

Quote from: franky1 on May 08, 2023, 03:46:35 PM

Quote from: dragonvslinux on May 08, 2023, 03:21:41 PM

Also how about sheer financial incentive? Right now there are blocks being mined with fee rewards per block that are higher than the 6.25 fixed block reward. While I doubt it's sustainable long-term

those fee's are not really from that many independent individuals . they are the same groups as the mining pool managers. basically making high fee's to pay themselves back.. thus not much loss is incurred when producing high fee transactions becasue they are the sender and receiver of fee's

Not sure I follow your point here. It seems that most of the high transaction fees are from "BRC20" inscriptions

no

the 'first sat' spam (ordinal v1) caused fee mania in february
the memes spam (ordinal v2) took up alot of data and fee mania in march
the brc json (ordinal v3) spam is only about 60bytes, yet caused fee mania in april due to just alot of tx's, not alot of content

The BRC-MEME is confusing. How do users validate their BRC-20 token balance? Get information from an off-chain indexer, a third party, that's running the software that read and interpret the data? Merely running a Bitcoin node won't do it?