0 sats \ 4 replies \ @pow 18 Dec 2023 \ on: High fees: Be careful what you wish for bitcoin
All those Ordinal inscriptions should have been in a parallel chain.
It's not efficient to store junk (cats and apes) in the main-chain
Indeed, they could do it on Roostock pretty easily or on liquid but I think the appeal is the block space limit and the fees kinda justify the value premium of whats essentially worth zero
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That, and the fact that none of those sidechains are trustless, as long as there's a federation it's a centralized chain, and as long as it's centralized, minting the jpgs there is not worth it.
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neither are any of the altcoin chains yet they're still minting there too, they've even migrated the ordinals style of creating tokens and nfts into these altcoin chains like ETH, MATIC, doge and the list goes on.
Sure they can justify a premium because you're using bitcoin, and it doesn't have the security label on the base layer like these other chains
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I didn't know this. Maybe merge mining could help us by easing the narrative of the security "they are as secure as they are in Bitcoin itself", but the block space won't be as scarce anyways.
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