Post
Topic
Board Bitcoin Discussion
Merits 2 from 2 users
Re: Runes will be worthless. Don't waste your precious BTC on huge fees.
by
d5000
on 25/04/2024, 19:24:53 UTC
⭐ Merited by vapourminer (1) ,JayJuanGee (1)
FULL tasks
Exactly. FULL tasks but not necessarily "original data". Wink OP_RETURN in Bitcoin consensus rules means "everything behind that is irrelevant". So if something is irrelevant it should be outside of the scope of a fully validating node. That doesn't contradict that there may be other kinds of nodes which do see some "sense" in data stored behind OP_RETURN.

To zoom out and to think about it from the whole network's viewpoint, it's actually neutral. The network keeps chugging along block after block, no consensus rule is broken, and the fee market works.
My thoughts on that were more related to the whole Bitcoin ecosystem, i.e. not only including miners but also the whole use case landscape. And the marginal benefits that miners are incentived to provide a little bit more security for some more weeks are imo outweighed by the negative impact on several user groups (not all - runes users are also users). If the incentives accelerate the creation of more and better L2s however (which solve the problem almost completely), then Runes are positive. This has to be confirmed though.

If I am not mistaken, Luke Dashjr on Nostr or Twitter – I can’t remember now – said that as a practical solution for the Runes problem, we could use either BitcoinKnots or Bitcoin Core. Set ‘datacarriersize=0’ in your bitcoin.conf file or use the equivalent GUI option in Knots.
I think yes this is correct - Luke's Knots client correctly recognizes also Ordinals-type data (embedded in witnesses), but for Runes the normal Core option is enough because Runes uses OP_RETURN and Core's datacarriersize option restricts OP_RETURN size. See Luke's proposal here.

This is actually one thing where I think Luke is correct, this is the way to give nodes the ability to restrict data usage, not some hard-coded heuristics which have to be updated all the time. But the importance may be limited as most would use the default value which is 80 bytes, and allows Runes.