The rapid rise of inscriptions in the chain as sparked a lot of controversy as many deem this type of use of block space as a waste of valuable resources that is unnecessarily increasing the size of the chain.
While I may not find the data that is being inscribed in the chain (mainly NFTs) particularly interesting and tend to think of it as pretty cheesy and/or not data that needs to be stored on the bitcoin ledger, it does not matter.
The decision to activate SegWit, which increased the block size limit to 4MB, coupled with the decision to activate Taproot, which made it cheaper to create certain transactions, made all of this possible. And because of this we now live in a world where people are taking advantage of what is possible with bitcoin. Like it or not, you have to live with it unless future consensus dictates a change that makes these things not possible anymore.
https://tftc.io/martys-bent/issue-1321-inscriptions-and-the-chain-state/
MartyBent / Marty Bent
npub1gu…y6hjy
2023-02-21 04:54:25
Author Public Key
npub1guh5grefa7vkay4ps6udxg8lrqxg2kgr3qh9n4gduxut64nfxq0q9y6hjyPublished at
2023-02-21 04:54:25Event JSON
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"pubkey": "472f440f29ef996e92a186b8d320ff180c855903882e59d50de1b8bd5669301e",
"created_at": 1676955265,
"kind": 1,
"tags": [],
"content": "The rapid rise of inscriptions in the chain as sparked a lot of controversy as many deem this type of use of block space as a waste of valuable resources that is unnecessarily increasing the size of the chain. \n\nWhile I may not find the data that is being inscribed in the chain (mainly NFTs) particularly interesting and tend to think of it as pretty cheesy and/or not data that needs to be stored on the bitcoin ledger, it does not matter. \n\nThe decision to activate SegWit, which increased the block size limit to 4MB, coupled with the decision to activate Taproot, which made it cheaper to create certain transactions, made all of this possible. And because of this we now live in a world where people are taking advantage of what is possible with bitcoin. Like it or not, you have to live with it unless future consensus dictates a change that makes these things not possible anymore.\n\nhttps://tftc.io/martys-bent/issue-1321-inscriptions-and-the-chain-state/",
"sig": "5e434586d0d6a1d48e3d03cb98f4c4e0ee986d9cd8ad253b4af0ea1be889cd89cf49f7dafba5d73ada9a9719eec804a25b8af8edfd0ec9adeac986e91cb944de"
}