Post
Topic
Board Development & Technical Discussion
Merits 1 from 1 user
Re: NFTs in the Bitcoin blockchain - Ordinal Theory
by
stompix
on 19/06/2023, 09:06:50 UTC
⭐ Merited by JayJuanGee (1)
Let's take aside the fact that NFTs are "junk", let's put our ideologies at the back seat, and try to look at the fact that the fees from financial transactions alone won't secure the network.

Oh, but they can! The only thing is that you need more than 500 000 a day, if we look at block 788766 which had nearly the same fee/reward ratio you will see the median fee was 20$. So in order to get the same revenue that would guarantee the same level of protection you will need to have 4000 users paying on average $20 since the reward is gone.
OR!!!! You could have 40 000 and pay $2. Or 80 000 pay $1.

But that would imply every node would need to spend $100 on a 2 TB SSD, so let's go with a $20 per tx cause it's cheaper! Roll Eyes