Post
Topic
Board Bitcoin Discussion
Merits 7 from 3 users
Re: Fees are high - a problem? Not for everyone!
by
Fiatless
on 02/01/2024, 19:08:02 UTC
⭐ Merited by $weetne$$ (3) ,Sexylizzy2813 (2) ,vapourminer (2)
Miners certainly benefit from what I personally call "ordinal madness", and suffice it to say that in recent days the rewards per block amounted to over 10 BTC, and considering that the reward without fees is 6.25 BTC, it is clear how much their profit has increased. Without going into any conspiracy theories, isn't it logical to think that some of them (miners) have their fingers in all of this? Who knows, maybe we'll find out one day.
Miners are the highest beneficiary of these ordinal inscriptions and many of them will always support the project because the profit is huge. It will take selflessness and love for Bitcoin for these miners to block these inscriptions.

Quote
Creators of altcoins who will use every opportunity to say that their project is better than Bitcoin and that their transactions cost only $0.01 and that you should invest in their project. What they will not tell you is that the security of their transactions is so great that you have to wait for several days to be sure that your transaction will not be messed up in some way.
I don't blame these altcoin creators because they are just taking advantage of the problem created by people who prioritize profit-making over the survival of Bitcoin. I wouldn't lie, some of these altcoins have saved the day for most crypto users because of the low transaction fees. Like I said before, I don't plan anybody after all, it is about the money.

I am among those who are still optimistic about this transaction fee of a thing, I believe the said bug which the ordinal developers are exploiting will soon be addressed by bugs. But for now, I am treating it as an asset now and only make transaction with it only if fiat currency will be an hassle for me
I also believe that nothing lasts forever, very soon these ordinal inscriptions will be handled. But for now, there is no solution in sight because this threat is becoming more popular and many people are making more money from it.  Nobody knows how long this will last because many people have been forced to hold more than their Investment plans. This is not good news for Bitcoin because one of its selling points was low transaction fees.