Concern about "Inscriptions".



Summary:

A small percentage of nodes willing to relay a certain type of transaction is sufficient for that transaction to consistently reach miners, as discussed during the mempoolfullrbf discussion. Even if the network were to adopt updated relay policies to prevent these transactions from reaching miners, users can still send non-standard transactions out of band or change the script used to embed an inscription in the transaction witness. The anti-inscription patch would require participation from many participants who may not be interested, while the pro-inscription update only needs a small number of enthusiastic individuals and businesses. Therefore, preventing inscriptions is a difficult task for those against it. The most effective solution currently known is to make the cost of blockspace more expensive than what inscribers are willing to pay, either by increasing its price or reducing market demand. This can be achieved through Bitcoin becoming more useful or through natural collectibles. Appeals to Satoshi are not considered persuasive arguments.


Updated on: 2023-08-11T15:39:58.794711+00:00