335 sats \ 3 replies \ @jeff 18 Dec 2023 \ parent \ on: High fees: Be careful what you wish for bitcoin
The nuance for your #2 is that, in the long run, if the entire world was using it, and financial txns were filling up blocks alone, then Bitcoin would have enough users to sway popular opinion, and Bitcoin could grow.
But if a small number of people fill up blocks, the baby is at risk of being killed in its cradle.
I say we tune the software to handle one specific purpose and use case. Classic engineering fail is to try to solve to be everything to everyone.
Grep. Ls. Man. Cp. Rm. Mkdir. Cat. ...
If we could improve fungibility without losing verifiability, Ordinals and Stamps would be done for. What enables them is the ability to track sats, all they need to do is to pretend the system uses a FIFO accounting system and that's it. Improving fungibility (we can copy the Monero guys) would solve most of this, a mempool war of trying to limit people to what they can or can't do with their money and the tools they have at their disposal is not the way, IMO.
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Monero-style privacy on L1 would trigger a big Operation Chokepoint. The reason governments are not targeting Monero is it's not nearly as big as Bitcoin.
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We don't need Monero style privacy per se, but we can copy some things.
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