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    Author Topic: Some of bitcoin's aim and purpose have been trampled upon  (Read 354 times)
    Orpichukwu (OP)
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    November 09, 2023, 11:05:54 PM
    Merited by The Sceptical Chymist (4), $weetne$$ (4)
     #1

    Am I the only one seeing this recent happening on the high transaction's fee of bitcoin as a direct attack on bitcoin purpose?
     
    Some of the things that make bitcoin unique and part of its purpose are: privacy, decentralisation, transparency, security, seamless transactions, and above all, financial freedom. Being in control of your holdings—when I say control, I mean total control—you decide when to spend your holdings and when not to spend them, and there is no limitation in terms of when they could be used.
     
    But based on the recent happenings on the transaction fee, which is a result of the network being too congested, which is a result of the Ordinal and the hype that follows with the minted NFT on the network, now an average holder who wants to make some transactions can't execute a smooth transaction when ever they want to or however they want it to be, the network is now for the rich, and those willing to pay the high fee get their transaction to the top.
     
    When someone can no longer use the network and perform transactions however they want without being forced to either use the lightning network that's for those who know how to set that up or being forced to make use of some other shit altcoins out of their whereabouts, is that freedom?
     
    Some of bitcoin's aim and purpose have been trampled upon, which don't look good on the network at all.

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