Quote from: stompix on Today at 09:06:50 AM

Quote from: Wind_FURY on Today at 06:46:49 AM

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

I didn't debate about of it can or cannot. I am saying that based on normal network activity for onchain financial transactions we're seeing today, it can't.

Quote from: ETFbitcoin on Today at 10:07:36 AM

Quote from: Wind_FURY on Today at 06:46:49 AM

Leave Ordinals alone, and allow it to exist as a "necessary evil" in the coming event when block rewards would not be enough to incentivize miners to keep securing the network.

1. Would Ordinals and other method to store arbitary data on-chain remain popular after next few halving?

I don't know. Probably? Especially during the bull cycle when everyone goes crazy investing in anything?

Quote

2. On long term, would usage of Ordinals have good impact on Bitcoin price?

The question perhaps should be, "Would Ordinals usage increase and therefore increase the demand for block space"? If the answer is "Yes", then I believe the demand for Bitcoin would also increase.

Quote

Quote from: Wind_FURY on Today at 06:46:49 AM

Thinking from what currently is going on, people who use Bitcoin for financial transactions are not really willing to pay for high fees.

And why would people do that when the fee could be >2% of amount they're going to send?

That's the point, because Ordinals users won't mind paying for high fees to inscribe or trade their NFTs.