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The Rise of Meme-Coins and NFTs Causing Tension and Congestion in the Bitcoin Community

The recent trend of meme-coin fever has caused a commotion in the Bitcoin community, leading to an increase in Bitcoin fees and blockchain congestion due to the creation of tokens based on the new BRC-20 standard. While some believe that Bitcoin should only be used as an alternative currency, others argue that it is an open protocol and should be used for any form of value exchange. To address the issue of rising transaction fees and congestion, developers are considering code upgrades that can alleviate blockspace limits and improve the overall system. However, any restrictions on speculative activities must be carefully evaluated to maintain Bitcoin's censorship-resistance. The governance conversation should focus on balancing individual rights with the interests of the group, which is a fundamental challenge for any blockchain community.

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