People see value in Shibcoin, doesn’t mean it’s good or we should support it. If Bitcoin transaction costs naturally grow with user adoption fine, and likely that will be fixed also (ex. segwit).
In the meantime, exploiting the blockchain so people can make money filling blocks is not good for basic Bitcoin transactions..
Who are you decide what is or isn't a good or ethical use of block space? Transaction fees are a market. If its too expensive, dont participate. The upgrades that enabled this are in the past. We allowed this to happen, its not an exploit or attack, but merely a cautionary tale to learn from and move forward. As soon as you start talking about censoring any kind of network transaction you diminish the entire network.
I’m not deciding, I’ll let the free market decide if it’s a bug or exploit. If so they will fix the code. If not, we have to deal with this.
My ‘opinion’ is Bitcoin was designed as a financial instrument to store and transfer value, not to host jpgs for sale.. I never said anything about censoring?!?
it was clearly designed as a p2p cash system
not as a funny picture system
most people cannot think normally any more
It was designed as a distributed database, initially with the intent of being p2p cash, yes. Satoshi originally included a lot of other functionality though. The reality is that the base chain was never going to be able to scale to meet mass adoption without a large increase in block size. Attempts to appease people who pushed the p2p cash narrative led us down the segwit route, which brings us again to the current "problem". Block space on a network of value (for any type of data) is valuable--you being able to purchase a coffee on chain appears to currently have less value than a dickbutt jpg.
in short:
it has nothing to do with satoshi any more
no privacy
no electronic p2p cash system
My apologies then. We'll see if there will be network consensus that defends that vision of bitcoin.
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