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Transactions ensure simple and correct handling of concurrency and failures but are often considered too expensive for use in file systems. This paper argues that performance is not a barrier to running transactions. It presents a simple mechanism that substantially lowers the cost of read-only transactions (which constitute the bulk of operations in a file system). The approach is inexpensive: it requires modest additional storage, but storage is cheap. It causes read-only transactions to run slightly in the past, but guarantees that they nevertheless see a consistent state.