Re: 'Attack on Bitcoin’ Claims Circulate as Transaction Fees Climb Higher
Well, I say... let them burn their money, if they are doing this to sabotage Bitcoin. Let the miners do their thing and let the developers analyze this threat and implement their counter measures.
We should never forget that Bitcoin is still experimental ... we still need to figure out if the tx fees will be enough to reward the miners.. once the Block reward falls away.
It is just part of the evolution of this technology and ALL other tokens would have collapsed under an attack like this.... Bitcoin is still standing.
We should never forget that Bitcoin is still experimental ... we still need to figure out if the tx fees will be enough to reward the miners.. once the Block reward falls away.
It is just part of the evolution of this technology and ALL other tokens would have collapsed under an attack like this.... Bitcoin is still standing.
Are you suggesting a hard fork? I'm pretty sure that's going to happen if developers decide to block Ordinals from the Blockchain. Miners will be running the original chain (with Ordinals), while the rest will be running the "filtered" chain. With fees increasing each day, it should only be a matter of time before this happens. Remember that users (businesses, individuals, etc) are the ones who make Bitcoin what it is right now. Not the miners. They only validate transactions but don't have full control over the network consensus.
We'd have to decide whenever we want fees to keep rising or all the other way around. Off-chain scaling methods (eg: Lightning Network) are experimental and not a long-term solution for the "scalability problem". Hopefully, everything will be back to normal soon. Maybe high fees will become a thing of the past?
