Bullish BIP-110

Spam on Bitcoin — Last 7 days: ~70% of all transactions are non-monetary 473.95 MB of non-monetary data (50.8% of Tx vsize) permanently stored on every full node Bitcoin is being bloated by non-monetary traffic. BIP-110 is the cure. Run Knots + BIP-110

"BIP-110 catches almost no spam." That's become the main argument against it. By raw transaction count, it's not entirely wrong. But count is the wrong metric. After decoding every OP_RETURN on Bitcoin for the last 60 days: 91% is now one funded protocol: Alkanes -> Millions of tiny mints BIP-110 won't touch (and shouldn't, that's relay policy's job). But those mints exist because contracts were deployed for them. - Deployment = a WASM binary in a Taproot reveal. 627 of them in 60 days. - Every single one rejected by BIP-110. You don’t stop a metaprotocol by filtering its mints. You stop it at deployment.

Issue #29: Counting the Leaves

Core’s newest argument against BIP-110 says it catches only a few percent of spam. The number is correct. The conclusion is wrong, twice.

"Filtering arbitrary data is censorship. It betrays Bitcoin's neutrality." It doesn't. Every protocol is defined by what it refuses to carry. A voice codec dropping oversized packets is not silencing speech. A monetary network that won't defend its scope doesn't stay neutral. It just lets whoever has the most resources define its scope instead. New issue: why Bitcoin isn't a bulletin board, even when the bulletins are noble.

Issue#28: The Freedom-Text Trap

Three “freedom documents” just landed on Bitcoin in three days. The texts are noble. That’s exactly why you should look closer.

Foundry USA started mining large OP_RETURN data in May. They likely 'just' upgraded to v30 and ran the default. The harm followed anyway. New piece on what changed, why it matters, and why we need BIP-110.

Issue#27: Default Is Not Neutral

Foundry USA simply upgraded to v30. The harm followed anyway

Bitcoin Block Space Health this week: - Decentralization: 61 - Security: 41 A 20-point gap inside the same dimension. UTXO set is fine. Composition is slowly degrading. Large OP_RETURN payloads pinning Security to the floor. Why a single score would erase the story:

Issue #26: Block Space Health - Structurally Weak, Acutely Pressured

BMHI dimension deep-dive. Composition is slow-bleeding, large OP_RETURN payloads are pinning Security to the floor

Bitcoin's price is mostly a bet on its structure. This week I launched v2 of The Bitcoin Portal, anchored by the Bitcoin Monetary Health Index, a 0–100 score across 7 dimensions of structural health. Methodology versioned, transparent, opinionated.

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SpiderPool's large OP_RETURN activity has been accelerating lately -> Five in the last 7 days. Most recent one: a 10KB MP3 (royalty-free UI click sound from http://SoundJay.com) inscribed in a single transaction via three OP_RETURN outputs, using a 'pwm1:' file-inscription protocol.

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BIP-110 fixes this.

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Issue #24 is out. BIP-110 already shifted the game. Here's how 👇

Issue #24: BIP-110 Is a Statement

BIP-110 is being read as a patch awaiting activation. That reading is too small.

New issue: The 45% Problem 30% (3-year avg) → 37% (6 months ago) → 45% today. Bitcoin’s blockspace is getting flooded with non-financial data. The fee market won’t fix it. Miners won’t fix it. Here’s what will.

Issue #23: The 45% Problem

The share of non-financial blockspace crossed 45%. Six months ago it was 37%. The trend is not your friend.

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Bitcoin ASIC supply chain: Bitmain + MicroBT = 82% of global output. Both Chinese. Less known: most ASIC chips are fabricated at TSMC. The chokepoint is Taiwan. BMHI #22:

Issue #22: Mining Health — Part 2

Security Power, Stability and Chokepoint

Bitcoin Block Space Weekly #11 is out. BIP-110 is coming. The only question is: who signals first? This week I break down the mining landscape: Who spams, who doesn't, who's most likely to make the first move, and my take on how activation plays out.

Issue #11: Who Will Signal First?

The mining landscape, the miner’s dilemma, and a new way to have your say

0.08%... That's the fee premium SpiderPool earns over Ocean by filling blocks with non-financial data. Issue #2 is out. The data on who's filling Bitcoin's blocks.

Issue #2: F2Pool & SpiderPool: The OP_RETURN Connection

One pool stepped back. Another scaled up. Why?

“v30 won't change much - miners already bypass policy with direct submission anyway." I tracked 3months OP_RETURN data to test that claim: - Before Oct 10: Minimal large OP_RETURNs - Oct 10: v30 is released - Same day: F2Pool mines a 97KB OP_RETURN. - After Oct 10: Clear increase. Who's doing this? F2Pool , Marathon, SpiderPool -> Combined 22-23% of the hashrate 23% of miners can turn 100% of nodes into large file (spam) storage devices. v30 relay policy enabled this. Consensus rules will fix it.

Bitcoin hashrate trending higher -> Now at 972EH/s. Wen 1000EH/s? I’d say quite soon…

Crypto sentiment back to Fear zone 😨 Bitcoin price is highly correlated with sentiment. We could test $110k today… Fear zones are usually good times to accumulate though.

Bitcoin hashrate again back to 1000EH/s 👀

🧵 "Bitcoin is a ghost town" they say, pointing to quiet mempools But in the last 3 months, $60B+ moved on-chain daily on average That's 588,824 BTC flowing through the network every single day The "ghost town" crowd is measuring the wrong thing entirely... 👇 2/ Here's what's actually happening: While transaction COUNT dropped slightly, transaction VALUE remains massive: $60B+ daily on-chain transfers 4.3M BTC weekly (21.6% of total supply) Same volume levels as 5 months ago This isn't a ghost town - it's serious money moving seriously 3/ Plot twist: Bitcoin on-chain value often EXCEEDS daily spot trading volume June 11th example: 🟠 624,437 BTC moved on-chain ⚪ 467,791 BTC spot volume Real Bitcoin → Real wallets vs. Paper trading → Same coins recycling Which one matters more? 🤔 4/ What this actually signals: ✅ Less speculation, more actual utility ✅ Institutions moving capital quietly ✅ Bitcoin working as designed: final settlement layer ✅ Empty mempool = efficiency, not abandonment The network is maturing, not dying 5/ The "ghost town" narrative completely misses the point Bitcoin isn't about constant mempool chaos - it's about moving real value efficiently What other "obvious" metrics do you think tell incomplete Bitcoin stories? 🔍 Building tools to dig deeper into these questions

I can no longer copy and paste to my primal client. Anybody having same problem?