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109 sats \ 1 reply \ @anon 10h \ on: Quick questions about OP_RETURN? Quick answers here. bitcoin
Won’t removing the op_return cap definitely remove upward fee market pressure by allowing transferors (who would have otherwise needed to use multiple or more complex transactions) to send all their arbitrary data a single transaction with a single output?
Assuming people who have been using witness data discount will continue to do so.
Murch for president.
Bitcoin Core currently considers a single OP_RETURN output with 80 bytes data standard. Above 143 bytes, it’s cheaper to use inscriptions.
There may be some use case that needs multiple OP_RETURN outputs which previously used several transactions instead of doing a single transaction. If they would have created let’s say three transactions instead of a single transaction with three OP_RETURN outputs, they can achieve the same thing with less blockspace, so they pay a bit less, but they also demand less blockspace.
It might open up the avenue for some people creating larger OP_RETURNs that wouldn’t have bothered to do so if it were non-standard even though they could have just submitted it to Mara’s Slipstream before.
Overall, I think the novelty will wear off, and in the long run, valuable payment transactions will price out frivolous data transactions. We cannot really prevent data transactions that are very valuable to their senders either way.
Murch for president.
Hah, thanks for your support. I’m not sure I’d be the right guy, I’d feel bad golfing so much.
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