The recent listing of the $ORDI token on Binance has rekindled the debate over the Bitcoin inscription and the BRC-20 ecosystem, reminiscent of the previous Bitcoin block size war from 2014 to 2017. This new wave, driven by Chinese retail investors and exchanges, has reignited the longstanding contention between big and small block proponents.
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At the heart of the inscription debate is the age-old Bitcoin scaling issue, essentially a clash between big and small block ideologies. While inscriptions are market-driven, their introduction to Bitcoin, which is likened to a small cup, is akin to playing with a whirlwind in that cup, inevitably leading to the squeezing out of normal transactions.
Further reading:Bitcoin Inscription & BRC-20 Verdict: Core Developer’s Decision Sparks Debate
Bitcoin's role as a conservative, immutable store of value conflicts with the progressive, rapidly evolving nature of Ethereum. The debate isn't about choosing one over the other; it's about recognizing that each has its unique appeal. Bitcoin, as a quiet store of value, and Ethereum, as a hub of innovation and progress, cater to different market needs.
Adopting a big block approach to meet every user's needs would require unlimited scaling, extending beyond inscriptions to all kinds of assets. Such a path risks Bitcoin's core value, introducing infinite scalability and technological risks, which contradicts Bitcoin's positioning as digital gold.
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Faced with the dilemma of maintaining network security post-2140 when block rewards end, the Bitcoin community might have to evolve a new token model and consensus to address the "transaction fee" issue. While small block proponents struggle with this fundamental question, the big block ideology's aggressive scaling approach poses an immediate and destructive threat to Bitcoin's core values.
The inscription issue is just a subplot in the broader narrative of the big vs. small block debate. A technical alternative that strikes a balance between the two factions could be the solution, avoiding another divisive fork in the Bitcoin community.
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Keywords: Bitcoin Inscription, Big Block Movement, Bitcoin Scaling Debate, Cryptocurrency, Digital Gold, Ethereum, Blockchain Technology, Market Dynamics, Network Security, Technological Risks, Bitcoin Forks
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