The Bitcoin fee market has increased substantially since late 2022 and there’s a reason for it: Ordinals inscriptions.
This novel technique to insert random data onto the Bitcoin blockchain has its supporters and detractors.
While its supporters issue and collect UTXO’s with this attached data into it, other bitcoiners strongly disagree and have looked into ways to block these inscriptions out of the network.
Miners on the other hand seem to welcome inscriptions, as they have increased their revenue thanks to higher fees.
But its detractors argue that this high fee market is the result of a distortion of the purpose of Bitcoin, which leaves behind monetary use cases of the networks.
In this episode of Money On Chain’s ‘Talks with Sato’ we invited Giacomo Zucco, a well known Bitcoin advocate, educator, investor and consultant.
Giacomo explained why inscriptions can be considered Spam and what Ocean Mining, a recently funded Bitcoin company, has decided to leave inscriptions out of their block production with the Bitcoin Knots client Ordinal filter.
Follow our guest: @giacomozucco
Listen this interview on Fountain and earn some sats!
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