Could we make a hard fork to disable new inscription to reduce the network pressure. Then both inscriptoin supporter and objector can work on each chain. That may seeperate bitcoin value to two chain, and probably, one chain can gain more value,we can call the coin on this chain BTC, the other chain must called another name. Even though, the inscriptions inscribed before fork seem valid after fork.
If there's a proposal, and if it could get community consensus, then absolutely yes.
Miners can not support the fork because they are looking for what can replace block reward.
I've got a bad feeling that this way of thinking is going to come back and haunt us in the future when the price has crashed hard since people will have had abandoned bitcoin
due to prolonged high fees... By that time the reward+fee would not be worth the same amount of money as 3.125
BTC is worth today at $60k.
But ser, isn't prolonged high fees an indicator that there's high demand for block space in the Bitcoin blockchain, and therefore it's also an indicator that there's high demand for Bitcoin?
Plus it's not his way of thinking, it's merely a fact. Miners actually have no choice but to be incentivized in order to continue to provide security for the network.
fees do not indicate demand
excessive fee's indicate over payment of a fee.. the fee bumps are not increments of smallest amount. and the junk spammers are not even using smallest amount nor bump increments, they just apply extreme fee's instantly which then cause everyone else to pay extra ontop
OK, then it was merely temporary demand. Right now, "normal" fees are at an average of 18 sat/vB to include a transaction in the next block. It illustrates that, currently, demand is low. But obviously that could change later.
its not about demand. its about price fixing inflated prices. its not a true demand fee free market, its a premiumised racket not a fee free market
Are you then saying that the current demand today for block space as represented by sat/vB is the normal demand?
.. as for miners
miners have many choices and can continue to provide security
firstly
bitcoin main reward is incentivised by the spot market. which even today is more profitable than the rates of 2023, they were not poor in 2023 and not poor now. the spot market can afford the miners a good income
But with block rewards that halve every four years, the miners can't continue depending on the spot market, no?
secondly
miners dont choose the transactions so they are not incentivised to accept the highest fee first because they are not the ones controling which transactions get into a block.. a miner(asic) does not make the block templates.. learn the difference between a mining pool(that does no mining) but does manage the block template creation and transaction selection, vs the miners that just re-hash a hash the mining pools send to them
What do mining pools do? Because if they don't take highest fees first, then why are the transactions that paid the highest fees get included in the next block first?
thirdly
when junk spammers are placing high fee's inconsiderately and nonsensically, its because these junk spammers have scammed alot of coin from victims so dont mind wasting coin.. thus not a sign of 'demand for bitcoin' its a sign the junk spammers dont care about bitcoin and would careless about bitcoin, which is why they throw high fee's into their transactions
No, absolutely not all transactions by those users during a point of high demand "have scammed".