Damus
ODELL profile picture
ODELL
@ODELL
There must be a limit to how much data is transferred across the bitcoin network in order to keep the ability to run and use your own node accessible. A node is required to interact with the global bitcoin network - if you do not use your own node then you must trust someone else's node. If nodes become inaccessible to run then the network will centralize around the remaining entities that operate them - threatening the censorship resistance at the core of bitcoin's value prop.

The bitcoin protocol uses two main mechanisms to keep node operation costs low - a limit on the amount of data in each block and a robust dynamic transaction fee market.

https://www.discreetlog.com/high-fees/
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ScarcityFightClub · 172w
"The reality is we were never going to be fully prepared..." 🤙
⚡️🌱🌙 · 172w
Very kind of Bitcoin to allow scammers to monetise Bitcoins hard won reputation. When ETH has high fees, everyone: ROFLMAO look at all the losers trapped in ETH. When it happens to BTC, oh errr designed to do this. Some intellectual honesty please. High transaction fees are a major inefficiency...
ginkgo · 172w
So, for someone who runs a node, but is still kind of learning the tech, is there something that can be done right now to combat this? It is often said, “not your node, not your rules.” …so I got a node. Haha So what can I do to help? High transaction costs don’t hurt me right now as a hodle...
Mr. Freedom · 172w
Maybe you should check out this guy Craig Wright. Hes right up your ally
DRE · 172w
Fees don’t affect the cost of operating a node low? At least it hasn’t affected the cost of operating my node. The other mechanism to keep the cost of running a node low is the attempt by the protocol to limit the number of blocks (amount of data) included in the chain per unit of time through ...
gsovereignty · 172w
Most of the vocal anti-ordinals crowd are new to Bitcoin (<5 years), it's not their fault but they do not understand the Bitcoin security model. Fees need to be significantly higher than the block reward in order to survive the upcoming hash war, especially the way things are going with all these p...
Rio · 172w
Fees are already coming down.
Brix Jørgensen · 172w
*Block space fee market.
Kenshin 🥷 · 172w
Might be working as designed but it is still tough to see when my yesterday’s transaction had over 500sats/vB and overall it cost me 10% to stack my weekly sats…
Sats paa BTC · 172w
That Sathoshi person/group had a lot to consider... Well thought! nostr:nevent1qqsx4j8q6ay2t9q67uadka3yy90qp9u9xtw9d67yvrngzgtvnh5522qpz9mhxue69uhkummnw3ezuamfdejj7q3qqny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysxpqqqqqqzfhrz5k
iru@localhot $_ · 172w
Why are people freaking out some degenerate shitcoiners decided to give mountains of free sats to miners?