Topic: Some of bitcoin's aim and purpose have been trampled upon - page 2. (Read 282 times)

The clear consensus will come when the transaction fees keep at insane levels for long periods of time. At the moment, the developers are very reluctant to do anything because they think their actions may lead going against one of the principles of the bitcoin network, which is being completely against censorship.

I am imagining when there is a full-fledged bull run which also comes with transaction fee spikes on top of the ordinals' madness, something will have to be done.

There have been several mempool flooding over the years, and what I learned from them is that people cannot continue doing this unless they really want to disrupt the network. It costs time, resources, and most especially money. Only transaction fees were affected by this flood in the mempool, and all of the other things that you enumerated weren't. Give it a week or two and I'm pretty sure the hype on Ordinals, alongside the mempool flood, will get cleared and we will get back to normal transaction fee levels.

I don't think that just because the price is very high right now that the very traits are very attack here, no it's not. We still have control of our privacy, we are still decentralized, security is still very high at 6 confirmations, the only issue is the fees, simply as that.

I don't think either that we are force to used LN, to be honest, I haven't used it and just rely on the simplest form of transactions.

And this is not the only time that the fees has increased because of brc-20 ordinals it has happened before and it just died down without us noticing it. So I guess this is going to happen again, sooner or later than expected.

If your transaction is 10 sat/byte and not more than 500 byte in size, you can use ViaBTC free accelerator.

https://www.viabtc.com/tools/txaccelerator/

Anytime ViaBTC mine a block, your transaction would be included.

The only thing ordinals actually affected is the lack or seemless transfer or the fact that they would be feeling up some space and subsequently the blockchain and making full node users wasting disk to download them useless coins.

The rest of the other features you mentioned haven’t been tempered, for privacy it is actually intact because they aren’t asking for KYC or even stopping the running of ones personal node. For decentralization they also aren’t on it because the miners still propagate transactions base on fees and mines blocks as usual, if it want for even decentralization they wouldn’t even be on the blockchain because some centralized bodies would have gotten them removed. But bitcoin network decentralization gives everyone the opportunity.

For security yes, it is still intact, ordinals aren’t Quantum Computers that we would say will pose threat to the network’s algorithm. Then financial freedom; yes you can still have total control of your coins, send them out whenever you want and how fast you want it to be included in a block, just that you have to pay higher this Time around.

Ordinals are none of this two, the only clear attack I see on bitcoin blockchain apart from breaking the two algorithms ECDSA and SHA256 or 51% attack. This folks are just wasting their thinking there are attacking bitcoin because sooner or rather than later this naive people paying huge transaction fees for them will stop

Let’s not get bother about this ordinals again, we experienced them twice before this year and at most it was 2 to 3 weeks so soon even this will pass

This is the unintended consequence of allowing too much features with bitcoin scripting, which was already very limited, but still not limited enough to allow only the intended financial transactions. I would really like to see a patch that disables the possibility of having any sort of tokens on Bitcoin network, but we all know how hard it is to change something in Bitcoin, so we'll have to just adapt to it.

Even the spike in transactions is very annoying and makes shipping costs more expensive and longer.
My withdrawals have been stuck for more than 24 hours and even the fees have been increased.

There are many pros and cons to the emergence of Ordinals, some like them because they see them as a creative innovation,
while others see them as a way to abuse and disrupt the core principles of Bitcoin.

There is no clear consensus on whether Ordinals is an improvement or an attack on Bitcoin.

Only what Ordinals and Inscriptions affected is the mempool which become more congested. Or is there any other what that makes bitcoin unique that is affected?

Privacy? No affected
Decentralization? Not affected
Transparency, in the way you meant it (like the blockchain)? Not affected
Security? No affected

About transaction, there were also times of mempool congestion like this in the past, especially during bull run. Although, Ordinals are really adding up to this, but not in the way that the purpose of bitcoin has been trampled upon.

Am I the only one seeing this recent happening on the high transaction's fee of bitcoin as a direct attack on bitcoin purpose?
 
Some of the things that make bitcoin unique and part of its purpose are: privacy, decentralisation, transparency, security, seamless transactions, and above all, financial freedom. Being in control of your holdings—when I say control, I mean total control—you decide when to spend your holdings and when not to spend them, and there is no limitation in terms of when they could be used.
 
But based on the recent happenings on the transaction fee, which is a result of the network being too congested, which is a result of the Ordinal and the hype that follows with the minted NFT on the network, now an average holder who wants to make some transactions can't execute a smooth transaction when ever they want to or however they want it to be, the network is now for the rich, and those willing to pay the high fee get their transaction to the top.
 
When someone can no longer use the network and perform transactions however they want without being forced to either use the lightning network that's for those who know how to set that up or being forced to make use of some other shit altcoins out of their whereabouts, is that freedom?
 
Some of bitcoin's aim and purpose have been trampled upon, which don't look good on the network at all.