No, it’s also that transaction fees are the only visible spam prevention mechanism for bitcoin to preserve its decentralized nature.
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Yes, the critical misunderstanding is that the Core update isn’t being done to turn bitcoin into a shitcoin-friendly system, it’s an acknowledgement that the desire by some to shitcoin on bitcoin is so persistent that they will always bypass any arbitrary centralized prevention methods, and only a fee market can effectively price them out.