⭐ Merited by BlackHatCoiner (4)
So, how can miners gain power, revenue, and profit in preparation for yet another hit to their control over Bitcoin?
Fees. Jack the fees up, extract as much value as possible, artificially clog the blockchain, if need be! Urgent transfers will need to pay, services will need to pay...miners claw back.
That's my logic path anyway
P.S...don't forget that NFTs/Ordinals can be vehicles for things much more than just "idiots who are FOMO'ing".
I can assure you, these idiots are not the ones who are inflating the chain. It is intentional work.
Why should I sacrifice my finances for The Foundry, BitFury and other giant mining companies? They are making tons of money by getting super cheap electricity and some other benefits that commercial giants gain. Some mining companies don't even pay taxes.Fees. Jack the fees up, extract as much value as possible, artificially clog the blockchain, if need be! Urgent transfers will need to pay, services will need to pay...miners claw back.
That's my logic path anyway
P.S...don't forget that NFTs/Ordinals can be vehicles for things much more than just "idiots who are FOMO'ing".
I can assure you, these idiots are not the ones who are inflating the chain. It is intentional work.
There is a difference between earning enough to cover expanses and earning as much as possible by milking other people via dirty plan.
To be honest, I am not against Ordinals, I just want normal transaction fees for users like me to be able to use Bitcoin for regular payments. I have a very mixed feeling about Bitcoin Ordinals. One part of me wants to block Bitcoin Ordinals because they exploit the bug of Bitcoin protocol, their place isn't here and they are the reason behind enormously high transaction fees but another part of me wants to keep them on Bitcoin network because if people want to buy tons of dollars to buy meaningless shit, I think we shouldn't stop them, it's all their budget. If they don't want their money and want to throw away in the garbage, let them do it because there are other smart people who will collect that money. It's not a scam or ponzi scheme, every buyer knows that they buy bullshit and they do it intentionally. I just can't imagine how Ordinal creators are willing to pay tons of money in transaction fees just to create ordinals. Seems, there is a huge demand on garbage from hundreds of thousands of people.