Quick response to
“Bip110 is needlessly censoring blocks”
#vlogstr #bip110 #libad
Login to reply
Replies (10)
Thanks for the discussion @Lucid
So what you're saying is, you hate Bitcoin? Lol
Did this guy just take my mom's Valium before making this?
I am off grid solar bitcoin miner who is completely out of his mind (in fiat terms)
I Would say I have a deep love and appreciation for satoshis gift.
Lack of censorship does not destroy a protocol. Pay fees to participate.
I like your point though, never thought of that before
Fees alone will not solve the spam problem. Only layers of filters, restrictions and incentives + fees can. If bitcoin is going to be the world's money it's transaction fees must be competitive.
Saving a JPEG to the chain is not paying for the same service an a monitary settlement record.
I'm not saying fees will solve it. I'm saying miners get paid more. And it's a growth resistance at scale maLord
Pay to play
Let me draw your attention to the fact that we don't even have fair fees since SegWit. Instead we have witness discount of 75% on witness bits so it's extremely cheap to buy such bits.
And then we are surprised why fee market can't outprice spammers. It's because fee market is rigged in spammers favor. The price of forever bits storage is paid by nodes.
Until we restore flat fee prices for all kinds of bits we will have a lot of issues with spam.
One critical rule we are missing is 75% discount on fee bits. We are not pricing bits fairly. The price is paid by nodes instead of paying price at the transaction time.
Censorship discussion misleading. We should talk more about fee market and how witness discount is destroying it.