But it also reduce OP_RETURN size limit, which give people incentive to use certain approach of fake pubkey that is cheaper than using OP_RETURN with the new limit. Yes, correct. The "I appreciate" was more directed at the idea that the faction around Luke-Jr has always criticised and never delivered any consensus based proposal which would have actually any effect, only filters which are actually not effective at all. This proposal would have an effect, it would make data storage slightly more expensive, but at least compared to OP_RETURN not really by much (about 25% afaik). The OLGA protocol is quite efficient storage wise, only 2 bytes in the ScriptPubKey, 1 byte for the script length, and the 8 bytes to encode the amount of satoshis is needed per output. You have thus 11 bytes of overhead per 32 bytes encoded. So the fee is only slightly higher than for a single large OP_RETURN. The only other cost component is that you have to burn 11 satoshis per byte due to the dust limit. In a low fee scenario this is the main cost, but if fees rise to >10 sat/vbyte again, the transaction fee becomes more costly. It is quite funny that they propose to ban bare multisig if the bare multisig storage method actually seems to be less efficient ... (at least according to the Stampchain website). I also oppose the totally rushed and *cough* intransparent way this BIP is delivered. Couldn't Luke at least have had the balls to propose it himself? Well thankfully it's been locked on github until dathonohm luke comes back to explain some things. Like that's going to happen. Hopefully they just fork off and leave everyone alone like BCH. -Dave
But it also reduce OP_RETURN size limit, which give people incentive to use certain approach of fake pubkey that is cheaper than using OP_RETURN with the new limit. Yes, correct. The "I appreciate" was more directed at the idea that the faction around Luke-Jr has always criticised and never delivered any consensus based proposal which would have actually any effect, only filters which are actually not effective at all. This proposal would have an effect, it would make data storage slightly more expensive, but at least compared to OP_RETURN not really by much (about 25% afaik). The OLGA protocol is quite efficient storage wise, only 2 bytes in the ScriptPubKey, 1 byte for the script length, and the 8 bytes to encode the amount of satoshis is needed per output. You have thus 11 bytes of overhead per 32 bytes encoded. So the fee is only slightly higher than for a single large OP_RETURN. The only other cost component is that you have to burn 11 satoshis per byte due to the dust limit. In a low fee scenario this is the main cost, but if fees rise to >10 sat/vbyte again, the transaction fee becomes more costly. It is quite funny that they propose to ban bare multisig if the bare multisig storage method actually seems to be less efficient ... (at least according to the Stampchain website). I also oppose the totally rushed and *cough* intransparent way this BIP is delivered. Couldn't Luke at least have had the balls to propose it himself? Well thankfully it's been locked on github until dathonohm luke comes back to explain some things. Like that's going to happen. Hopefully they just fork off and leave everyone alone like BCH. -Dave

But it also reduce OP_RETURN size limit, which give people incentive to use certain approach of fake pubkey that is cheaper than using OP_RETURN with the new limit. Yes, correct. The "I appreciate" was more directed at the idea that the faction around Luke-Jr has always criticised and never delivered any consensus based proposal which would have actually any effect, only filters which are actually not effective at all. This proposal would have an effect, it would make data storage slightly more expensive, but at least compared to OP_RETURN not really by much (about 25% afaik). The OLGA protocol is quite efficient storage wise, only 2 bytes in the ScriptPubKey, 1 byte for the script length, and the 8 bytes to encode the amount of satoshis is needed per output. You have thus 11 bytes of overhead per 32 bytes encoded. So the fee is only slightly higher than for a single large OP_RETURN. The only other cost component is that you have to burn 11 satoshis per byte due to the dust limit. In a low fee scenario this is the main cost, but if fees rise to >10 sat/vbyte again, the transaction fee becomes more costly. It is quite funny that they propose to ban bare multisig if the bare multisig storage method actually seems to be less efficient ... (at least according to the Stampchain website). I also oppose the totally rushed and *cough* intransparent way this BIP is delivered. Couldn't Luke at least have had the balls to propose it himself? Well thankfully it's been locked on github until dathonohm luke comes back to explain some things. Like that's going to happen. Hopefully they just fork off and leave everyone alone like BCH. -Dave

But it also reduce OP_RETURN size limit, which give people incentive to use certain approach of fake pubkey that is cheaper than using OP_RETURN with the new limit. Yes, correct. The "I appreciate" was more directed at the idea that the faction around Luke-Jr has always criticised and never delivered any consensus based proposal which would have actually any effect, only filters which are actually not effective at all. This proposal would have an effect, it would make data storage slightly more expensive, but at least compared to OP_RETURN not really by much (about 25% afaik). The OLGA protocol is quite efficient storage wise, only 2 bytes in the ScriptPubKey, 1 byte for the script length, and the 8 bytes to encode the amount of satoshis is needed per output. You have thus 11 bytes of overhead per 32 bytes encoded. So the fee is only slightly higher than for a single large OP_RETURN. The only other cost component is that you have to burn 11 satoshis per byte due to the dust limit. In a low fee scenario this is the main cost, but if fees rise to >10 sat/vbyte again, the transaction fee becomes more costly. It is quite funny that they propose to ban bare multisig if the bare multisig storage method actually seems to be less efficient ... (at least according to the Stampchain website). I also oppose the totally rushed and *cough* intransparent way this BIP is delivered. Couldn't Luke at least have had the balls to propose it himself? Well thankfully it's been locked on github until dathonohm luke comes back to explain some things. Like that's going to happen. Hopefully they just fork off and leave everyone alone like BCH. -Dave