Re: 'Attack on Bitcoin’ Claims Circulate as Transaction Fees Climb Higher
There's no easy way to undo ordinals at this point. You are going to need to gather enough capital and mining power involved to basically push for what would be a BTC hardfork without ordinals, and this would need to be done in a way that guarantees no future ordinals are possible, but then again, how do you this without causing another hardfork civil war, and how do you do it without getting rid of taproot? because if taproot is possible, I believe there could be ways around any restrictions put into ordinals to come up with alternatives.
It's all because of SegWit + Taproot. Without those upgrades, Bitcoin would've stayed a pure money system by now. Forks like BCH and BSV didn't need Taproot because they took a different approach for scaling (increasing the block size). They are safe from Ordinals. Now BTC developers would need to find a way to lower the fees without censoring Ordinals inscriptions. I know miners won't like this, but it's the majority that counts (users, node operators, businesses, etc). If a super majority approves a reduction on network fees, miners would have no choice but to "go with the flow".
I hope this issue gets solved ASAP, for Bitcoin to reach the masses. Especially people in developing countries. At its current state, Bitcoin can only be used by whales and the elite. This creates an unequal system where the rich get richer and the poor, poorer. The future is widely unpredictable, so we can only hope for the best.
