Could Bitcoin miner fees turn into an asset layer?

5 replies 409 views
Posts: 2 · Reputation: 87
#1Feb 3, 2022, 10:15 PM
Hey everyone, So, I recently got a small transaction in my wallet labeled BitFee. Honestly, I had no clue what it was, so I hit up ChatGPT for some help. That led me to check out this protocol inscription: I’m not the one who created it, and I’m not sure who did. It might end up being nothing. But the whole concept got me thinking. From what I've gathered, BitFee aims to use Bitcoin transaction fees as a foundation for creating an asset. When someone pays Bitcoin miner fees through a legit BitFee transaction, that fee contributes to how the asset is shared. This got me pondering a simple question: As Bitcoin's subsidy continues to decline, miners are going to rely more on fees. We usually see fees as a loss for users. But what if fees could actually become something people can build upon? Without needing to alter Bitcoin. Without launching a new chain. Without placing trust in a company. Just by sticking to regular Bitcoin transactions and the typical miner fees. I’m not claiming BitFee has the answer to Bitcoin's fee issue. It's likely got its own set of problems. It probably needs indexers. Miners might have some edges. And maybe nobody will care about it since it wasn’t created by a big name. Still, I think the concept is intriguing. Also, I got some help from ChatGPT while organizing this post. This made me consider another point: if AI can assist regular users in examining transactions, reading inscriptions, and creating small indexers, then a protocol like BitFee doesn’t have to rely on one main site. Different folks could verify the same rules using their own tools. That sounds pretty Bitcoin to me. Eager to hear what you all think.
7 Reply Quote Share
satoshi2020Senior Member
Posts: 183 · Reputation: 970
#2Feb 3, 2022, 10:43 PM
You are not the owner, and you don’t know who created it, meaning you arent in anyway connected to it, but you scooped up your device after you must have experienced this Bitfee, you then created an account immediately on the forum just to tell people in the forum about it, because this is your very first post and your account was created today too.
4 Reply Quote Share
sage_moonSenior Member
Posts: 273 · Reputation: 1371
#3Feb 3, 2022, 11:03 PM
This is the 2026 version of "I stumbled across this gem by chance." Nobody discovers an inscription by accident, researches it with AI, and writes a 500-word forum post unless they have an agenda. This is the classic disclaimer that actually does the opposite because it projects confidence while creating plausible deniability. Every shitcoin scammer uses this line. This has all the hallmarks of typical rune or ordinal propaganda, but done subtly to try and grab readers' attention as if it were something unusual to see this kind of thing on the internet these days... it would be strange if someone launched a Bitcoin layer without a fake grassroots post on the forum.
3 Reply Quote Share
hash_bossLegendary
Posts: 1166 · Reputation: 5261
#4Feb 4, 2022, 04:05 AM
It sounds like someone found DMT-NAT (another token that reward Bitcoin miner), but IMO modify it with more complicated and worse idea. Both token you "found" and DMT-NAT doesn't seem to have actual benefit or usage to average Bitcoiner either.
3 Reply Quote Share
orbit100Hero Member
Posts: 423 · Reputation: 2314
#5Feb 4, 2022, 05:50 AM
I mean what stops the community (if there's one) to create open source tools to do the stuff you need? Relying on AI to explain basic stuff sounds like it will discourage users to actually understand how something works. It would be horrible if the AI was fed with low quality data or whatever. It's not like Bitcoin or any crypto project only has one official explorer or tools to begin with.
0 Reply Quote Share
fox_byteHero Member
Posts: 478 · Reputation: 2370
#6Feb 4, 2022, 07:45 AM
I stopped taking the thread seriously after reading BitF.. Its purpose is to promote a service that is useless, a mere network spam, or an unnecessary addition of data. Such services will not last.
0 Reply Quote Share

Related topics