The best way to fight on chain spam is to make transactions worth a higher fee.
Quantoshi.xyz
drgo@nostrplebs.com
npub1fa8c...thnd
Bitcoin OG since 2010, former laptop solo miner - which makes me (amongst) the first obsolete Bitcoin miner(s), blockstream satellite node runner, #2A rights user, radiologist
I’ve got some time to kill in Vegas next week. What should I do?
Not sure I think the current GitHub dispute or the new pull request is that big of a deal.
I don’t like jpegs and ordinals and stuff, but if the chain is being attacked in a way we can’t defend, obviously we should make the attack costs scale in proportion to the resource demands the attack creates.
Bitcoin is an arbitrage play over bias / social programming.
If it becomes too expensive to transact on chain, and it becomes too expensive to transact on chain in sufficient fashion to run a censorship resistant L2 network, then bitcoin literally becomes digital gold: totally centralized.
Bitcoin is far from condemned to such a future. But it needs work. And balance to keep a network running…miners need a reason to mine and users need to be able to transact at prices reasonable for the value onchain transactions provide. But new software needs to be written to make the best use of block space and that work is under way.
Bitcoin is massively undervalued. This can only happen when enough people haven’t any idea what makes a good money. But good ideas never die. People will figure it out. Enjoy your cheap sats!