Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: Solution to high rates? Maybe not, but it's an idea...
by
pooya87
on 26/12/2023, 06:36:30 UTC
⭐ Merited by garlonicon (1)
The only viable solution to fixing unreasonably high transaction fees caused by an attack is to stop that attack! All other attempts will be like putting a bandaids on a broken leg.

As long as we are talking about other ideas the solution to Ordinals Attack is simple too. Create a side-chain and call it "Bitcoin Ordinals Chain", merge mine it with bitcoin blocks so that you can use the high bitcoin hashrate and enjoy its security and at the same time provide an additional revenue for miners that find those other blocks. That hits multiple birds with one stone by addressing all the things people discuss regarding this attack!
1) It will reduce bitcoin tx fees as the spam would stop
2) Nothing would be "censored" as some users love to call it
3) Miners revenue would increase which is another false argument some users use to justify this attack
4) The scam called Ordinals will still use the "bitcoin" name so it can continue ripping idiots off
5) It is a completely separate chain/network so it can have its own consensus rules and it means the said transactions would become NFTs for real as opposed to now that they are arbitrary data
6) Being a separate chain means it is not going to be limited by Bitcoin limits (block size, script/smart contract limitations, etc.)

They will never do this though because of a simple reason: they never wanted to create a smart contract platform. They just wanted to attack Bitcoin and make it increasingly harder for real bitcoin users from using this decentralized payment system...