Post
Topic
Board Bitcoin Discussion
Re: Important reminders
by
ABCbits
on 21/04/2024, 11:30:40 UTC
Another important reminder: Censorship won't prevent monkey jpegs. Let's leave asides if censoring monkeys would undermine one of the important properties: It just technically doesn't work. People who spend dozens of millions of dollars in monkeys everyday can bypass every censorship measure and save them straight to the UTXO set, which would be a lot worse for the rest of us.

But don't forget there are ways to discourage those spammer. Even if it's limited to make Ordinals TX become non-standard, it would force them to use Runes instead where they only can store 80 bytes of arbitrary data on OP_RETURN on each TX.

Quote
Another important reminder: Censorship won't prevent monkey jpegs. Let's leave asides if censoring monkeys would undermine one of the important properties: It just technically doesn't work. People who spend dozens of millions of dollars in monkeys everyday can bypass every censorship measure and save them straight to the UTXO set, which would be a lot worse for the rest of us.
Reinstating the "coin days destroyed" priority mechanism can help. Spammers can't destroy unlimited coin days, but this isn't in the interest of miners. And that's a fundamental problem: the ones who earn from high fees benefit from the flaws in the fee system.

That mechanism was never part of Bitcoin protocol. It's just default behavior on Bitcoin Core (previously called "Bitcoin-Qt" and "Bitcoin") which used by miner until they prioritize profit.