Why Bitcoin's 'Monetary Maximalists' Oppose 'JPEG Enjoyers' (and Why They're Wrong)

between the “monetary maximalists” and “JPEG enjoyers.” While the Bitcoin network is limited in its storage capacity, the threshold for confirming transactions of any kindHerein lies the conflict: is Bitcoin open to anyone for any purpose? Or did Satoshi Nakamoto have an intended purpose for his creation, which should be accounted for when deciding who can use Bitcoin and how?

The takeaway here is that invoking WWSD or reapplying what he has done or said in the past viais a losing battle. Putting aside some of the apparent contradictions between what Satoshi himself sometimes did and said, the core argument for Monetary Maximalism is that Ordinals inscriptions and BRC20 tokens spam the blockchain and abuse the current rule set. They could be considered a kind of DDOS attack. Or worse, a grift.

A healthy and lucrative fee war, whether they are monetary transactions or ordinals, is unarguably positive for miner revenues in what is proving to be a cut-throat capitalistic industry. by active users are both Ordinal/BRC20 wallets, with each growing over 30% month over month. What got us here might not be the same thing that is going to get us to where we need to go. In order to reach that level of adoption, the ideology in its current form will have to evolve.

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin & Bitcoin Cash Among Top Crypto Gainers as Crypto Prices Pump: What About Green Bitcoin?Crypto Blog
Source: Crypto_Potato - 🏆 568. / 51 Read more »

Bitcoin Cash & Bitcoin SV Pumping as Bitcoin Minetrix Nears Exchange ListingCrypto Blog
Source: Crypto_Potato - 🏆 568. / 51 Read more »

Buy Bitcoin because ‘your wealth is melting’ away — Unchained reportResearch suggests that Bitcoin’s superior monetary properties make it a good alternative investment vehicle.
Source: Cointelegraph - 🏆 562. / 51 Read more »

Does the Bitcoin halving impact cross-chain interoperability solutions?Beyond the immediate impact on Bitcoin pricing and miner rewards, Bitcoin halving influences cross-chain interoperability.
Source: Cointelegraph - 🏆 562. / 51 Read more »

Bitcoin (BTC) Price Driven by "Bigger Forces" Than ETFs: Top AnalystBitcoin ETFs might not be the main driving force behind the Bitcoin price action
Source: Utoday_en - 🏆 295. / 63 Read more »

Major Bitcoin ETF Warning Made by Samson Mow, Hold Tight‘$1 million Bitcoin’ advocate Samson Mow has commented on the recent outflows from Bitcoin ETFs
Source: Utoday_en - 🏆 295. / 63 Read more »