₿itcoin ₿ombadil's avatar
₿itcoin ₿ombadil
npub1ptas...vhsq
Take delight in things for themselves without reference to yourself… The chain of memory is resurrection.
Afaict, BIP 444 UASF mitigates risks of Spam and upgrades Bitcoin’s monetary quality, presenting all Bitcoiners with more purchasing power upside. Core v.30 prioritizes special interests and opens up new Pandora’s Boxes on Bitcoin. Run Knots, Ocean, and DATUM. Filters up.✊🏼🫡
While I think economic, ethical, technical, and other non-legal risks are sufficient to oppose facilitating more Spam on Bitcoin, it’s ironic that Peter Todd was thinking adversarially about legal risks of possessing illegal data back in 2016. Run Knots. Filters up.✊🏼🫡 image
Bitcoin is filters and constraints to defend Bitcoin from Fiat all the way down the Rabbit Hole. Inflation? Only 21 million. Favors large miners? Proof of Work + Difficulty adjustment Spam? Fees + block size limit + small Op_Return 0-83 byte limit + Luke’s Inscription Filters And all these limits and constraints collectively defend Bitcoin’s quality and incentivize responsible use of Bitcoin as Money. If you know, you Knots. Filters up. ✊🏼🫡
If no one called bullshit on Core & the Spam Apologists and all Bitcoiners downgraded to Core v.30, then Bitcoin would be far worse off and there would be no DATUM, Knots, or Ocean and no viable golden bridge to decentralization. Filters up.✊🏼🫡
Best options for my wary merry Bitcoin fellows afaict: 1) Cooperate and build consensus on the policy and social layers. 2) Cooperate and build consensus on the consensus rule layer. 3) 1 & 2 4) seek an orderly schism due to irreconcilable differences (absolute last resort)
Spam distorts Bitcoin fee signals by paying a fee to add data to Bitcoin that isn’t necessary to use Bitcoin as Money. It decreases Bitcoin’s Monetary Fee Signal to Arbitrary Fee Noise Ratio. The Inscription Attack in 2023 distorted fee price signals and crowded out normal responsible use of Bitcoin as Money. Also, the dead weight data that spam adds to full nodes makes it harder for people to run full nodes for solo mining and controlling their own Bitcoin, which dampens Bitcoin’s network effects— a key driver of Bitcoin’s overall value as a network (Metcalfe’s Law). Bitcoin users need to call bullshit on SpamScammers.
Notice Bittr doesn’t say “Bitcoin: A Homie-to-Homie Arbitrary Data Storage Vibe” Just Cash, homie. It’s cleaner. If you know, you Knots. Filters up. ✊🏼🫡 image
The Fiat Money Printer is a Spam Printer. They print the Spam for free and they attack Bitcoin with the Spam. Bitcoin is the antidote to the Spammy Money Printer, but only if we defend Bitcoin from the Spammy Money Printer with best effort. Run Knots. Filters up.✊🏼
Any reason to think that BIP 444 needs to expand the script pubkey size limit from 34 bytes to 43 bytes to allow for Taproot addresses? Is BitKey actually leveraging Taproot for monetary use?
Lesser of two evils arguments aren’t helpful. Empty block > 1MB Spam block Empty block > 4MB Spam block Bitcoin users have to hold each other to higher standards. A 1MB Op_Return block isn’t justified just because it’s “not as bad” as a 4MB Inscription block.
The current Core Maintainers have made a mockery of Bitcoin policy standards that have been in place for over a decade. They declared war on the Bitcoin policy layer. They should resign yesterday.
Core is forcing a change in consensus rules because they decided to make a mockery of Bitcoin’s policy standards that had been in place for many years. The Core Maintainers are bad faith actors, wittingly or unwittingly. Time for them to resign.
Bitcoin must be guided by the strongest logical and ethical arguments that serve its purpose as Sound Money. Hand wavy technobabble dev slop milksop ain’t gonna cut. Sound Money is Bitcoin’s Dominant Strategy. There is no second best Dominant Strategy for Bitcoin. Filters up.
Nobody needs to play Chess, Go, or Poker on Bitcoin L2s. Just focus on growing Bitcoin’s monetary network. Maximize and Optimize Bitcoin’s monetary fee signal to arbitrary fee noise ratio.
Dev Slop is the defeatist milquetoast milksop that surrenders Bitcoin to Spam. Pleb Slop is the eternal vigilance required to defend Bitcoin from Spam. Up the Filters. Down with the milquetoast milksop Dev Slop. If you know, you Knots.
1 BTC + Spam Mitigation ≠ 1 BTC + Spam Proliferation 1 BTC + Spam Mitigation > 1 BTC + Spam Proliferation Bitcoin with Spam Mitigation is higher quality than Bitcoin with Spam Proliferation.
Mitigation ≠ 100% Prevention But since Core and its supporters have chosen to make a mockery of Bitcoin’s policy standards that have been in place since 2014, they have created a serious shit storm. So yea, now a consensus change is being proposed to mitigate risk of attack.
Core made a mockery of Bitcoin policy standards and has undermined the usefulness of policy entirely, so now we’re stuck having to make a change to consensus. What’s next? Will the 100kb Tx Size Policy Limit will come under attack? Will Core remove that policy limit?