BitcoinIsFuture -- 60d Spam devalues Bitcoin. replySpam devalues Bitcoin.
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BIP110 supporters:I just read this post in its entirety. Some of it was hypothetical/subjective and it could have been shorter,but one point stood out.Why would miners choose a chain with lower fees (thus reducing their payouts)? Is the desire to avoid spam(illegal or otherwise) expected to outweigh the desire to earn money or is the expectation that nodes will forcethem to shift?I know everybody is getting tribal as fuck right now, but I'm not attempting to stir the pot. I am genuinelyinterested in learning more about Bitcoin.nostr:nprofile1qqsggcc8dz9qnmq399n7kp2yu79fazxy3ag8ztpea4y3lu4klgqe46qpzamhxue69uhhyetvv9ujuurjd9kkzmpwdejhgtcpz3mhxue69uhhyetvv9ukzcnvv5hx7un89uqjqamnwvaz7tmvd938yetjv4kxz7fwv9shymmwd96k66tf9e3k7mf00rc7dznostr:nevent1qqsfdss8p3vj4rvh9y64pa3drdu5vtyxu25cyzflxa7tkn8kqq2pe6spz9mhxue69uhkummnw3ezuamfdejj7q3q7u5dneh8qjp43ecfxr6u5e9sjamsmxyuekrg2nlxrrk6nj9rsyrqxpqqqqqqzjvrdej
Bitcoin mempool and blockchain is for monetary transactions.Spam currently takes more than 36% of the blockchain space and brings less than 1% of revenue for the miners.It devalues Bitcoin, its a waste, it makes running a node harder and it hinders decentralization.There are memcoins for spam and jpegs. Bitcoin is Freedom Money.https://blockspaceweekly.substack.com/p/issue-3-three-years-of-spamSecond reason is that Bitcoin node runners define the rules that miners follow.https://blockspaceweekly.substack.com/p/issue-12-who-actually-decidesAlso, actually most of Lopp's post is misinformation.nostr:nevent1qqswcc8yrl8p5dt0pp0pf6kga7h2vuafdrdfqrnumcanjlcvtdtf8dcppemhxue69uhkummn9ekx7mp0qyg8wumn8ghj7mn0wd68ytnddakj7qghwaehxw309ahx7um5wgh8vatvwpjk6tnrdakj7hyhmsw
Blockspace is a scarce resource. If spam transactions are willing to pay market fees, miners don't care — butthe rest of us should. Fee pressure from junk data is a real cost to actual monetary use.
Spam devalues Bitcoin.
Bitcoin mempool and blockchain is for monetary transactions.
Spam currently takes more than 36% of the blockchain space and brings less than 1% of revenue for the miners.
It devalues Bitcoin, its a waste, it makes running a node harder and it hinders decentralization.
There are memcoins for spam and jpegs. Bitcoin is Freedom Money.
https://blockspaceweekly.substack.com/p/issue-3-three-years-of-spam
Second reason is that Bitcoin node runners define the rules that miners follow.
https://blockspaceweekly.substack.com/p/issue-12-who-actually-decides
Also, actually most of Lopp's post is misinformation.
nostr:nevent1qqswcc8yrl8p5dt0pp0pf6kga7h2vuafdrdfqrnumcanjlcvtdtf8dcppemhxue69uhkummn9ekx7mp0qyg8wumn8ghj7mn0wd68ytnddakj7qghwaehxw309ahx7um5wgh8vatvwpjk6tnrdakj7hyhmsw
0997626b…c25f -- 60d [parent] | reply [1 reply]Blockspace is a scarce resource. If spam transactions are willing to pay market fees, miners don't care — but the rest of us should. Fee pressure from junk data is a real cost to actual monetary use.