Re: [Jun 2024] Fees are high, wait for opportunity to Consolidate your small inputs
⭐ Merited by LoyceV (6)
Which part of the whitepaper talks about "low fees"?
I assume, these quotes basically mean that Satoshi wanted Bitcoin transactions to cost low.Quote
Completely non-reversible transactions are not really possible, since financial institutions cannot
avoid mediating disputes. The cost of mediation increases transaction costs, limiting the
minimum practical transaction size and cutting off the possibility for small casual transactions,
and there is a broader cost in the loss of ability to make non-reversible payments for nonreversible services.
avoid mediating disputes. The cost of mediation increases transaction costs, limiting the
minimum practical transaction size and cutting off the possibility for small casual transactions,
and there is a broader cost in the loss of ability to make non-reversible payments for nonreversible services.
Quote
These costs and payment uncertainties
can be avoided in person by using physical currency, but no mechanism exists to make payments
over a communications channel without a trusted party
can be avoided in person by using physical currency, but no mechanism exists to make payments
over a communications channel without a trusted party
Yes, freedom is good and there is nothing wrong with it but Ordinals clearly abuse Bitcoin and use it for purposes that were never meant.
Centralized exchanges abuse Bitcoin, as it was meant to be peer-to-peer cash without trusted third parties. So, let's ban centralized exchanges.Do you get it now?
Mempool is probably cursed
If there is not a spam of ordinals, there is a spam of UTXO consolidations. Blocks are full of huge transactions. Basically each transaction comes with more than 1000 inputs