It is worth knowing that Ordinals started with NFTs before BRC20. ORDI is just one of the BRC20 tokens but there are many of them. There are many to come is be what people are predicting. So let us expect more congestion if nothing is done.

Not only ORDI that caused the recent congestion, SATS is also part of it and other BRC20 tokens.

With what I am thinking, Ordinals will stay. Bitcoin developers need to look for means to make the transaction fee cheap as it was before. BRC20 will likely grow and the onchain transaction will increase if nothing is done.

Some would argue the concept was censorship resistant transactions and permissionless freedom.  Low fees were just the icing on the cake.  Let's try to keep things in perspective.

The closest risk to the concept failing is the angry mob with their pitchforks and torches advocating banning transactions.


//EDIT:

Public Notice: I have user franky1 on ignore and won't be responding directly to whatever nonsense he's spouting.  His ideas regarding Bitcoin are a direct threat to freedom.  I've never seen someone so deep in the totalitarian closet.  I'd strongly advise against engaging with this user, unless you want him trying to dictate to you what you can or can't code.

And you also shout that bitcoin will cost $100k, 1000k. Imagine how high the transaction fees will become at that moment.

Indeed, bitcoin has moved away from the original concept and the community now uses bitcoin more as an investment and speculative tool than as a means for online payments. This is the reality.

Wow, take it easy. Just don't panic.

Well, we'll still be left with something. I am sure that the developers, even without our panicked cries, are well aware of the scale of the problem and are working on it. They work, right? What does the government have to do with it? Which one? World government? This smells like some kind of conspiracy theory and reptilians.

The concept of Bitcoin from my subjectivity is transacting directly with each other without intermediary and a currency without central controls so cheap transaction fees should have been another agenda but it is not included, but it's carried along the way, now if Bitcoin was to create freedom for both the status quo rich and status quo poor, with the high transaction fee it doesn't create a scenario for the status quo poor people to be free it's now a currency for only status quo rich people.

I haven't obviously seen any possibility to reduce the congested blockchain but only probabilities that are not up to 70% surety for working out.
I'm not sure of this thoughts in my head that it might also be that high transaction fees are initiations from the high profile personals or the so called government(s) inorder to maintain the social strata, because Bitcoin has powered social mobility which might force some of them to drop from their statuses.

My interest is how do we as a community influence the transaction fees to reduce? knowing too well that nothing has been done since the complains of high tx fees.

I won't lie. I am a big Bitcoin believer and have been since 2020, but this fee problem is very worrying. If you look at the infographics being shared by other shitcoins that does the same blockchain fancy stuff and for that, you pay less than 10 cent fee for one transaction. And for Bitcoin, it's currently above $20 and the time it takes is so much for an ordinary transaction.

Imagine you are buying something and your Bitcoin transaction is taking 30 minutes to confirm, you can't wait for this much time when you have payment methods which takes less than a second nowadays. Sad to see this.

I don’t think they will be the ones onto this, they wouldn’t want to waste so much amount of money to infect the blockchain, they would rather switch focus to getting larger pools to censor transactions just like we have seen F2pool and Mara pool onto, if they want to attack the network. The issue of inscriptions are just bunch of individuals that found a way to milk gullible people from their money since they saw how well the NFTs went.


They are currently more than 30 of them with new ones been lunched also, the likes of CSAS and 1000SATS getting the new attention. OP can easily check on them on coinmarketcap at the categories page


The thing self is, it is not the price of bitcoin that actually causes the high transaction fee but rather the mempool congestion that does that. We have had bitcoin transactions fees at 1-5sats/vbyte when the price was around $30k-$40k last year and a fee of around 20sats/vbyte when the ATH then was not upto $40k

But this time is different. Although, it is possible that bitcoin and Ordinals transactions may reduce sometimes and the fee can become low, but different from 2022 and the past when there was nothing like Ordinals.

It would have been better if the fee is cheap than how it is now.

Never mind me that I quoted this. Some people called the transactions as spam on this forum, but you can see how clear that BRC20 topics reported are not moved to altcoin boards but stayed in bitcoin discussion. Also that there is nothing developers are doing to make this type of transaction not to be on bitcoin blockchain. I am starting to think that this spam are now considered relevant and seen as bitcoin tokens.

The real name is SATS. But some people and exchanges refers to it as 1000SATS which is still SATS in different denomination. That is SATS price multiply by 1000.

I don't know where the OP got it either. Besides, the initial concept can change and the creation can still be a success, as it seems to happen for saving and transferring from certain amounts. For me it is more important what DooMAD says:


It is a freedom that today is in danger.

I dont give a shit to these ORDI and relevant shit projects, TBH on the Bitcoin network i dont make too often transection so the network fees never bother me much, But form the view of the community member and considering the mission of Btcoin in count as well this is alarming. What can be a possible solution for the Bitcoin L2? I dont know Removing ordinals? some of the trend followers may not support it or even may be some of the people with the perspective of freedom on the network will oppose .

This topic is already discussed many times, I even cant count but even after scanning many of the pages on those topics I've never found a perfect solution-based discussion, everyone just gives the openion as i do which put me in considartion that there's not possible solution for this casue.

High transaction fee is indeed a problem in the Bitcoin ecosystem and it has been seen as a strong attack on the system. Just recently the National Institute of Standards and Technology (NIST), a U.S. government agency that manages cybersecurity risks labeled Bitcoin Ordinals’ Inscriptions a Code Exploit. Now Bitcoin Ordinal Inscriptions has been added to the National Vulnerability Database of the United States.
https://unchainedcrypto.com/us-government-labels-bitcoin-ordinals-inscriptions-a-code-exploit/

There is no need to curse these miners because everybody is after the money. Everybody is in the Bitcoin ecosystem to make more money and miners are taking advantage of these opportunities. It was reported that revenue for all miners on the blockchain has already risen by around 60% to $2.5 billion in the fourth quarter of this year. Big Bitcoin mining firms like Marathon Digital Holdings Inc. and Riot Platforms Inc. have made so much profit this season.
https://www.bloomberg.com/news/articles/2023-12-19/bitcoin-nft-ordinals-craze-turns-into-revenue-bonanza-for-miners-mara-riot

I think inscriptions is here to stay, so we have to learn to live with it.  Getting a consensus rule change will be difficult but an implementation of the mining policy to filter inscriptions so that they will not get into the blocks might be viable. Inscriptions is not just a problem of the bitcoin network but it is spreading gradually to  Ethereum, Solana, Near, Polygon, Celo and Fantom.
https://www.theblock.co/post/266298/bitcoin-dev-luke-dashjr-calls-inscriptions-spam-community-members-push-back

The cheap transaction fee was a good quality of Bitcoin. It was one of my strongest advantages when I introduced people to Bitcoin. I know several businesses in my area that use Bitcoin for international payments because of the cheap transaction fees. Some people don't care about privacy or decentralisation, all they want is cheap transaction fees.