We want to get rid of the texture on our ceiling. It's a very ugly stipple effect.

![enter image description here](https://i.stack.imgur.com/lT5erm.jpg)

However, there's a foot and a half of insulation over this ceiling. Knocking it down to install new drywall is not an option.

We also don't really want to slap another layer of drywall on top of it, because we don't want to give up any more height than we have to.

So we are torn between sanding it down with a very coarse paper on an orbital sander or just skim coating the entire thing (and yes I do know how much effort that is, I skim coated a whole wall once to eliminate the texture).

Is there another option, and if not, which one of the two above should I use?

Edit: The stipple I mention is joint compound which, while wet, was pulled down upon with a wet sponge, creating lots of peaks. It has subsequently been painted many times presumably over 72 years. (House built in 1940)