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Poll

What do you think should happen to ordinals?

should be banned
6 (54.5%)
nothing, let them run out of money
3 (27.3%)
they are the future. Look for L2 solutions
2 (18.2%)

Total Members Voted: 11

Author Topic: What do you think should happen to ordinals?  (Read 1298 times)

Offline bitmover

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What do you think should happen to ordinals?
« on: December 20, 2023, 06:07:05 PM »
Ordinals become something impossible to ignore. We are hitting avg fees over 500 sat/vbytes in some blocks.

On one side, people are saying they are just spamming the network.

Luke, bitcoin developer,  already called for an ordinal Ban.
https://decrypt.co/139576/bitcoin-developer-calls-block-ordinals-brc-20-tokens-network

Jack Dorsey's mining pool are censoring them in their blocks
https://news.bitcoin.com/jack-dorsey-backed-bitcoin-mining-pool-ocean-acknowledges-filtering-ordinal-inscriptions/

On the other hand , freedom is important.

Personally, I would say that bitcoin transactions are more important than storing jpeg in the blockchain

What do byou think?
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What do you think should happen to ordinals?
« on: December 20, 2023, 06:07:05 PM »

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Offline Fivestar4everMVP

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Re: What do you think should happen to ordinals?
« Reply #1 on: December 20, 2023, 08:55:37 PM »
It is just like you have said that freedom is very important, let's face the fact, aside the fact that the ordinals and causing congestion on the bitcoin network which have resulted to extreme high transaction fees, no body probably who would have cared whether they(ordinals) existed on the bitcoin network or not, Infact, majority of us could have seen their existence on the bitcoin network as a good thing as it means more usecase for bitcoin, just like Eth is used as gas for token transactions on the Ethereum ecosystem.

But right now, we are here, and I think there isn't much we can do aside accept things the way they are, and personally, I feel that with miners rewards getting halved on every every halving, the high fees will contribute in keeping the bitcoin network secure as it will encourage the miners to keep mining, we all can shift to L2 of the bitcoin network - which is the lightning network, when the fees become too high for us to keep transaction on L1, we leave the L1 for those who are transacting in high amount of bitcoins and ready to pay any amount in fees.
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Re: What do you think should happen to ordinals?
« Reply #2 on: December 20, 2023, 09:47:11 PM »
On the other hand , freedom is important.

Personally, I would say that bitcoin transactions are more important than storing jpeg in the blockchain

What do byou think?

Freedom is important, but this ignores the basic purpose of Bitcoin. BRC spammers have occupied the network only for themselves and it is practically unusable for smaller transactions. Some of my micro-businesses have been completely devastated by excessive fees.

Like all meme coin manias, I expect that the demand for BRC will decrease once, until then ordinary users have to suffer. That is why I am a supporter of removing BRC from the network as soon as possible, and that there is no waiting for a natural decline in interest in them.
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Offline Tribalchief

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Re: What do you think should happen to ordinals?
« Reply #3 on: December 21, 2023, 05:19:36 AM »
It is just like you have said that freedom is very important, let's face the fact, aside the fact that the ordinals and causing congestion on the bitcoin network which have resulted to extreme high transaction fees, no body probably who would have cared whether they(ordinals) existed on the bitcoin network or not, Infact, majority of us could have seen their existence on the bitcoin network as a good thing as it means more usecase for bitcoin, just like Eth is used as gas for token transactions on the Ethereum ecosystem.

Definitely, it's best to neglect the situation at hand and act as if it never happened. But considering the fact that there would be a rapid increase of congestion, and we are even facing some minor issues of heavy charges, is there no possible actions that can b taken for the present situation ?.
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Offline tranthidung

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Re: What do you think should happen to ordinals?
« Reply #4 on: December 21, 2023, 02:51:24 PM »
Luke, bitcoin developer,  already called for an ordinal Ban.
https://decrypt.co/139576/bitcoin-developer-calls-block-ordinals-brc-20-tokens-network

Jack Dorsey's mining pool are censoring them in their blocks
https://news.bitcoin.com/jack-dorsey-backed-bitcoin-mining-pool-ocean-acknowledges-filtering-ordinal-inscriptions/
They are very first people made initiative to handle network spams from BRC guys but it breaks a core value of Bitcoin blockchain, no censorship.

I agree that Bitcoin developers and community have to think of solutions for it but I don't support these ones from Luke and Jack.

Quote
On the other hand , freedom is important.

Personally, I would say that bitcoin transactions are more important than storing jpeg in the blockchain
Freedom is important and non-censorship is important too.

It's painful to experience very expensive transaction fee right now but I have belief that even we don't have any technical solution for it, those BRC20 tokens will die with time. They can not attract money from lazy and greed people forever. They appear, make hype, attract money but will also tail off then die with time like NFTs on altcoin blockchains.

If we need example of self-destruction, tail-off, death with time effects, altcoins NFTs are very good examples.

Offline Coinmama7824

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Re: What do you think should happen to ordinals?
« Reply #5 on: December 23, 2023, 01:31:19 AM »
It's no longer news that this whole Bitcoin Memepool congestion started right after the introduction of the so called ordinal token, So if we are to solve the congestion issue, I believe the best solution would be to completely get rid of the ordinal token.

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Re: What do you think should happen to ordinals?
« Reply #6 on: December 23, 2023, 03:57:56 AM »
It's either ignore and live with it or just use another coin for transactions.
Looking at mempool, there are still many people who are using Bitcoin over time, so I guess they just simply ignored it.

Many are requesting for ordinals to get banned, but correct me with this one. I think for something to be implemented, many people must agree with it, and that includes the miners as well. I don't think they will like this one because it will affect their profitability. Overall, like what happened during the last NFT hype, this BRC20 hype will subside as well, and I expect fees to go down too... or will they?  ;D ;D

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Re: What do you think should happen to ordinals?
« Reply #6 on: December 23, 2023, 03:57:56 AM »


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Re: What do you think should happen to ordinals?
« Reply #7 on: December 23, 2023, 09:03:40 AM »
It's either ignore and live with it or just use another coin for transactions.
Looking at mempool, there are still many people who are using Bitcoin over time, so I guess they just simply ignored it.

Many are requesting for ordinals to get banned, but correct me with this one. I think for something to be implemented, many people must agree with it, and that includes the miners as well. I don't think they will like this one because it will affect their profitability. Overall, like what happened during the last NFT hype, this BRC20 hype will subside as well, and I expect fees to go down too... or will they?  ;D ;D

Yeah people are still using Bitcoin, but not as much as they used to before, overtime, many people has switched to moving their funds through other alternative tokens that requires less fee to do so, which isn't good at all for business, yes miners have decided to remain adamant about this whole Memepool saga, simply because they're the ones benefiting from the high transaction fees and correcting the whole thing would affect their profitability.

Well then I just hope this whole thing ends soon because if it persists, a lot of people might just get tired of the high transaction fees and decide to divert their attention to other means.

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Re: What do you think should happen to ordinals?
« Reply #8 on: December 28, 2023, 03:16:06 PM »
It's either ignore and live with it or just use another coin for transactions.
Looking at mempool, there are still many people who are using Bitcoin over time, so I guess they just simply ignored it.
Using another coin for transactions is like saying Bitcoin as lost its p2p value use altcoin, Soon with this Bitcoin will only be seen as a store of value and this is out of what it should be, there are definitely going to be individuals still using it no matter the congestion but we doing small transactions can't afford it.

It is just like you have said that freedom is very important, let's face the fact, aside the fact that the ordinals and causing congestion on the bitcoin network which have resulted to extreme high transaction fees, no body probably who would have cared whether they(ordinals) existed on the bitcoin network or not, Infact, majority of us could have seen their existence on the bitcoin network as a good thing as it means more usecase for bitcoin, just like Eth is used as gas for token transactions on the Ethereum ecosystem.
Alot would have still cared don't forget earlier this year there were spamming Bitcoin with s**ty inscriptions and now the free  accelerator (ViaBTC) we are using as been taken over by bots, you can't call this freedom In fact it is far from it, all I see are self centered folks Ordinal should be scrap out or move to layer 2

Quote
But right now, we are here, and I think there isn't much we can do aside accept things the way they are, and personally, I feel that with miners rewards getting halved on every every halving, the high fees will contribute in keeping the bitcoin network secure as it will encourage the miners to keep mining, we all can shift to L2 of the bitcoin network - which is the lightning network, when the fees become too high for us to keep transaction on L1, we leave the L1 for those who are transacting in high amount of bitcoins and ready to pay any amount in fees.
Miners will still earn even after the halving reward as long as the block size is not increased and also don't forget bitcoin price will continue to increase which is making up also for the halving. We all can't move to L2, moving Ordinal to layer 2 would be better don't forget not everyone can technically set a LN and other easy alternative maybe LN be CEX
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Offline Hatchy

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Re: What do you think should happen to ordinals?
« Reply #9 on: December 28, 2023, 08:53:44 PM »
Alot would have still cared don't forget earlier this year there were spamming Bitcoin with s**ty inscriptions and now the free  accelerator (ViaBTC) we are using as been taken over by bots, you can't call this freedom In fact it is far from it, all I see are self centered folks Ordinal should be scrap out or move to layer 2
It's frustrating to see that they've not only crowded the mempool but also found the Viabtc accelerator. They keep blocking the free accelerator with their bots, making people even more annoyed. They're making everything really unpleasant, and I hope they get banned soon.

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Using another coin for transactions is like saying Bitcoin as lost its p2p value use altcoin, Soon with this Bitcoin will only be seen as a store of value and this is out of what it should be, there are definitely going to be individuals still using it no matter the congestion but we doing small transactions can't afford it.
That's where we're heading slowly, but Bitcoin hasn't lost its value. More people keep buying and investing, is another reason for the congestion. It's okay to use a different coin for transactions now. It not only saves money but also cuts down on the high fees you expected to pay. I have a transaction stuck for days, and it's really frustrating. Curse the ordinals

Offline Fivestar4everMVP

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Re: What do you think should happen to ordinals?
« Reply #10 on: December 28, 2023, 09:16:11 PM »
Alot would have still cared don't forget earlier this year there were spamming Bitcoin with s**ty inscriptions and now the free  accelerator (ViaBTC) we are using as been taken over by bots, you can't call this freedom In fact it is far from it, all I see are self centered folks Ordinal should be scrap out or move to layer 2
It's frustrating to see that they've not only crowded the mempool but also found the Viabtc accelerator. They keep blocking the free accelerator with their bots, making people even more annoyed. They're making everything really unpleasant, and I hope they get banned soon.

And who actually is going to ban the ordinals on the bitcoin network? Remember that the bitcoin blockchain is decentralized, which means that the network is not controlled by a single entity, but by the entire community of bitcoin miners and other supporters of bitcoin in their various forms, and like many of us here already know, there are some bitcoin mining pools that have started blocking transactions coming from ordinal, example to the jack dorsey mining pool.

But one thing about decentralization is that, the fact that some group of people aren't cool with a thing, does not mean the other group of people aren't cool with that thing as well, the mining pool which belongs to Jack dorsey are saying no to ordinals, but other mining pools are still supporting it possibly because of the money they are making from the high transaction fees.

This tells us that, not every bitcoin miner cares about the health of the bitcoin network, some are just there for the money and nothing more.
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Offline Ambatman

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Re: What do you think should happen to ordinals?
« Reply #11 on: December 28, 2023, 09:18:27 PM »
Overall, like what happened during the last NFT hype, this BRC20 hype will subside as well, and I expect fees to go down too... or will they?  ;D ;D
okay that will they is very ominous ;D ;D
About the ordinals am not sure is possible to banned it through community wide consent and trying to deny them entry by the developers may lead to further problems especially in cases of Segwit.

Ordinals are like parasites but cutting them off with force might leave scars
So we have to take a delicate approach by waiting
As most have said is a passing fad
Let's take it as a kid playing with a new toy, the child will definitely get tired of it.

Offline Cantsay

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Re: What do you think should happen to ordinals?
« Reply #12 on: December 28, 2023, 10:35:15 PM »
This only gives more rooms for more criticism of bitcoin, it has lost its “cheap transaction” its “speed  (Unless you’re willing to pay some unrealistic price for fee)”.


That's where we're heading slowly, but Bitcoin hasn't lost its value. More people keep buying and investing, is another reason for the congestion. It's okay to use a different coin for transactions now. It not only saves money but also cuts down on the high fees you expected to pay. I have a transaction stuck for days, and it's really frustrating. Curse the ordinals

If you’re in dire need of the confirmation of the transaction then use “RBF” but note that it’s going to cost you more money. Sometimes even the RBF fee is quite discouraging imagine having to pay $15 for a $50 transaction just so that they can confirm my transaction. It’s just so frustrating to be honest.
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Re: What do you think should happen to ordinals?
« Reply #13 on: January 02, 2024, 12:12:47 PM »
I wish BRC token can be gotten rid of from bitcoin blockchain but I don't know how possible is that, because the ordinal has caused a hike in fee and people that are having small transactions are finding it not funny to pay high fee for it. I think that the best thing is to live with it until it subsides because it is not going to last forever. My fear is that this one more BRC20 token would soon be created wouldn't those tokens be hyped too. We just have to use whatever method of that would suit the kind of transaction we want to make. Small transactions should use LN and big transactions should pay the fee or better still hodli till it is over.

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Re: What do you think should happen to ordinals?
« Reply #14 on: January 02, 2024, 12:31:57 PM »
Of course, we want freedom, but we should understand how did someone come up with this kind of attacks. It was that the devs of Ordinals has found a loophole on the code and so he exploited it to cause havoc on the mempool.

So we have to weight everything it, should we censor them because in the first place what they did is an exploit?

Similar to let's say in a online gambling site, you found a exploit and take advantage of it and then make huge money until the casinos found that there are bugs and you didn't report it. So definitely the decision will be outright ban of your account. So you will be the judge and if you think that the analogy make sense.

 

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