Post
Topic
Board Bitcoin Discussion
Re: Bitcoin mempool reaches 600K transactions
by
ETFbitcoin
on 06/09/2023, 10:48:01 UTC
Do people think this high usage is good or bad for Bitcoin? Are there still many inscriptions being made on the network or is this more financial transactions?

It's bad when most of TX is about Ordinal inscription or transfer where almost of them could be just stored on centralized service (e.g. social media or cloud storage) without censorship risk or doesn't contain valuable information/data.

It is due to the Bitcoin Ordinals and most of these transactions are dust transactions, I would approach and If any Bitcoin Core Developer is here, please try to prioritize less for these Dust transactions as they are blocking the way for other people who really want to use Bitcoin Network for something important, like paying for something with Bitcoin etc. These Ordinals guys need to go somewhere else, BTC Network isn't made for these things.

If people actually want to do something about it, IMO they should approach miner/pool first who include transaction mainly based on TX fee rate. At most, Bitcoin Core developer could change default Bitcoin Core behavior not to re-broadcast Ordinal TX. And i doubt they're going to do that.

These Ordinals guys need to go somewhere else, BTC Network isn't made for these things.
I agree with you, but because of taproot upgrade they found a way to do this on the BTC blockchain. Take note as well that the BTC network is also censorship resistant.

Don't forget Ordinal is fully possible without Taproot, although with few minor limitation.