Using bitocin as free data storage doesn’t scale. Satoshi wrote extensively on this.
Such ignorance. Keep the base layer free and lean. We don’t need any other use cases other than money or bitcoins security will be at risk… it already is 70% non monetary data.
Login to reply
Replies (3)
If all that is inscribed is value…. That which is built on the timechain…. That is most aligned with the value it hold…. Those additional layers or second, third, fourth…. order effects.
Those are what society uses and those are what impact us the most or have the most noticeable impact on our systems/institutions we use for measuring everything else we hold dear in society….
All that…. Does not need to be recorded on the timechain…. The value embedded there is how society will keep score
Objectively, Bitcoin does not work without data storage. Any transaction on the ledger regardless of content is inscription in the shared global memory for eternity. No one is claiming free data storage. I don’t want free storage, the fee market is there to ensure the bits aren’t free.
Arguably SegWit introduced a discount on bitspace, which after ~9 years is finally to showing its true color thru additional protocol changes. If you hate spam, you should hate SegWit too. A forced discounting mechanism for specific bits should not exist. SegWit increased blocksize in a sly and roundabout way. Now we pay the price of our actions; every node pays for discounted bits which is seemingly outpacing Moore’s Law and sustainable chain growth.
We can revert the chain back to 2017 (pre-Segwit) protocol code and I will still argue that immutable eternal memory is the sole source of all value in Bitcoin. No inscription (writing truth into finite memory/time by energy; aka money), no conservation, no value.
Satoshi also talked about Quantum, which you have come out publically and agreed with me that it is not a threat and Bitcoin was the proper interpretation of a quantum computer. So which of Satoshi’s words do we take as gospel and which do we not?
He gave us Bitcoin, he was not a master of every adjacent domain subject. It is us who have drifted from Satoshi’s original protocol through our desire to scale the chain. Segwit plays a major role in the pricing spam on chain, which doesn’t allow the free/fee market to be a proper arbiter of truth. 3/4 discount of certain bits means it will take 3x the amount of blocks or 3x the amount of bits nodes must store to price out this behavior, do you not recognize this?
If you hate spam, you hate Segwit too. @Kyma Fi Was Segwit the original Landauer Attack?
View quoted note →
dont even waste your time with these freaks....
they are doomed to smell their own intellectual farts right unto the Fire.