BTCtoOblivion on Nostr: https://m.primal.net/IINE.png A lot of bitcoiners who think that spam helps (bad) ...
A lot of bitcoiners who think that spam helps (bad) mining pools/miners to get more fees but free market is screaming at us and showing that spam doesn't help with fees.
In fact, almost all of the block space is being filled with a lot of garbage and mining pools'/miners' main source of income is still block subsidy (aka 3.125 bitcoin/block mined). Moreover, it's increasing the cost of running your own full node.
Do not forget that spammers are exploiting legitimate bug in the #bitcoin script to add garbage data and rationalizing it with "it helps miners/mining pools" or "They are valid transactions".
As
Asher (npub16s0…8ky6) said before, "The economic impact inscriptions have on fees is completely irrelevant to whether they are a bug or not. If there were zero inscriptions ever and the bug was never exploited and never impacted fees, it would still be an unpatched bug that should be addressed. My attitude towards inscriptions won't change with the weather of fees. If mempool cleared and blocks weren't full, I'd still say inscriptions are a bug that need to be patched.
There are many bugs in bitcoin which have zero economic impact on the network, because they just aren't that kind of bug. Even if a bug has no economic impact, its still a bug. You should not be thinking about bitcoin in terms of "at X sat/vb its a bug, but at Y sat/vb its not."
Published at
2024-05-19 12:55:20Event JSON
{
"id": "a7fdc884fb0bd74228141623a90654846ca2b1f55896bc51e085451a551c8104",
"pubkey": "13cb9f915251404603a2ac5c41805b5a4de57f630205a359ffd95ca11739b133",
"created_at": 1716123320,
"kind": 1,
"tags": [
[
"t",
"bitcoin"
],
[
"p",
"d41e81dbd009554a2df052a1cc5077eeef04c554bccedc18526894873c78dc3d",
"",
"mention"
]
],
"content": "https://m.primal.net/IINE.png \n\nA lot of bitcoiners who think that spam helps (bad) mining pools/miners to get more fees but free market is screaming at us and showing that spam doesn't help with fees. \n\nIn fact, almost all of the block space is being filled with a lot of garbage and mining pools'/miners' main source of income is still block subsidy (aka 3.125 bitcoin/block mined). Moreover, it's increasing the cost of running your own full node. \n\nDo not forget that spammers are exploiting legitimate bug in the #bitcoin script to add garbage data and rationalizing it with \"it helps miners/mining pools\" or \"They are valid transactions\". \n\nAs nostr:npub16s0grk7sp9255t0s22suc5rhamhsf325hn8dcxzjdz2gw0rcms7stj8ky6 said before, \"The economic impact inscriptions have on fees is completely irrelevant to whether they are a bug or not. If there were zero inscriptions ever and the bug was never exploited and never impacted fees, it would still be an unpatched bug that should be addressed. My attitude towards inscriptions won't change with the weather of fees. If mempool cleared and blocks weren't full, I'd still say inscriptions are a bug that need to be patched. \nThere are many bugs in bitcoin which have zero economic impact on the network, because they just aren't that kind of bug. Even if a bug has no economic impact, its still a bug. You should not be thinking about bitcoin in terms of \"at X sat/vb its a bug, but at Y sat/vb its not.\"",
"sig": "589f69138036a1a788d124fd0f6f07013e2a947a5f8662cf83ae1718e0f28dd8f652f87ae604faaf51a9e43844e780055a236e63a64f118678c9c1537acd695d"
}
