Yesterday, 61.5% of #onchain Bitcoin tx were #spam.
This generated a total of 236 btc in fees for the miners, who obviously love this.
However, persistent and aggressive spam hurts the adoption of Bitcoin as money, as it is currently making the chain unusable for small users and new adopters. The longer any network is heavily spammed, the more it becomes unusable, until adoption breaks down and it's abandoned.
Yes, the f(r)ee market will do its job. But who can compete with degens that are willing to pay a 99% fee rate? Yes, they will run out of money. But are we sure about that, and how long will it take? How much damage will be done?
Big blockers are back. We should all be very vigilant.
GM, how's everyone liking the ongoing #ordinals spam attack today?
Has anyone been sending any onchain tx lately?
Or are we small users all waiting until "fees fix the spam"?