Oddbean new post about login | logout How is this not a state actor attack? They will pay north of $10 million USD to waste block space. https://image.nostr.build/215f1253397f9cd191bb3b4d47edffe2e1c3cec67e6c7e853c23bfdb1cce0f56.png https://image.nostr.build/ef80094365aba3bdea445b323bcfeec0390cfe4eeef98d1428d6bd2cd90a448b.png
look where mining fees are going few selected addr - seems there is cartel of miners + pools + ordinals working as group to takeover/attack mainnet prohibiting for day to day use. conspiracy theory changes when proof is revealed 7% to be mined 91% circulating but using mainnet is critical factor beyond nethash + totalnodes miners have huge USD capex debts
Big statement here sir, not that they have ever tried to hide it but it blows my mind people think that is fine
mainnet fees are NOT going to any random btc address(es) like the luck factor
Not sure what you're trying to say here but mining fees go to the miner that finds the next block. Miners can pay themselves to make plebs pay more for their normal transactions without obviously mining empty blocks else but as these transactions can be mined by any pool, this is an incentive for miners in general and not limited to some cabal of insiders.
It's the free market. If you don't like it, then bid more.
It's not a free market. There's a witness discount.
Well, if nation states tax their citizens to pay the miners to fill the blocks with garbage then this could actually work as an attack on Bitcoin, at least for a while. It can get ramped up or down from one day to the other, so it could go on for weeks with "random" pauses as needed. If randomly every other week, Bitcoin turns unusable, it will loose a lot of users.
