pull down to refresh
0 sats \ 1 reply \ @TheBTCManual 16h \ on: What is the point of NFTs? And perhaps fees are *too low* not too high? bitcoin
I was annoyed at them during those peak mempool stuffing, delays and free spikes for sure. I was annoyed that my node is taking up more hard drive space and but then I thought what if Bitcoin was just going through crazy demand and we had 4mb on the regular it would be the same result to my HDD
They have deep pockets but they like every other fad runs out of sellers eventually
I am a knots node runner, I don't like ordinals I don't see the point in them, but running a node is now 2.5x cheaper than when I was peak annoyed so it's not all lost, we can still operate for years to come without pricing out people
If we do get a consistent high-fee environment I'd say its about time, l2s need more pressure to kick on, its a chicken and egg scenario, if the chain is not under pressure we won't have an incentive to scale and push the limits of L2 nor do we get enough funding to improve on the solutions in production.
My understanding... is that blocks were never intended to be 4mb in total. The 'extra' 3 mb was there 'in addition' for signatures/efficiency.
Now the 4 mb blocks can be consumed with... arbitrary data. Jpegs. It essentially was a blocksize increase if indirect.
What I don't understand is to whom the jpegs and memecoins can be sold. Who is buying them? Because at 30$ a piece to 'inscribe' someone is buying them otherwise they are not profitable.
I like Knots... but I don't run it as I can't imagine mempool policy alone preventing arbitrary data. The 'fee market' and fair demand for blockspace has to step in and outspend the jpeg people.
reply