💯

the idea that fees alone stop spam sounds good on paper, but breaks down fast when you look at real attacks. fees swing around. on a quiet sunday morning, an attacker can jam blocks with junk for pennies. by the time fees rise, the junk is already locked in and every node has to store it forever. not every attacker cares about burning money. governments (especially governments who want bitcoin to die) ideological actors, rival coins, or just rich trolls can spam even when fees are high. think about that for a second and you’ll realize that this action immediately invites some actors/bodies to throw unlimited resources at trying to kill bitcoin. economic deterrence only works on people with limited resources who care about economics. spammers pay miners, but the cost lands on everyone else. every node has to download, process, and store spam transactions forever. the bitcoin blockchain itself remained neutral 'til now, it's simply a ledger of txs. the problematic content emerges only when specialized software interprets blockchain data in ways that reconstruct harmful material. until now, the defense was that bitcoin doesnt support data, it requires extra tools and software to transform it to CSAM. however, with the introduction of core 30, this distinction becomes less tenable. 30 effectively transforms every participating node into a component of a distributed storage system making operators potentially complicit in hosting content rather than merely maintaining tx records. this shift fundamentally changes the nature of node operation from passive record-keeping to active data hosting, raising new questions about liability and responsibility for network participants. another words every node running core 30 effectively becomes part of the data-storage layer and thats a big problem! if bitcoin is money and if you’re a monetary maximalist, there’s no such thing as “legitimate or interesting content” on the network beyond tx data.

my conclusion is that the whole op_return operation is about pissing off monetary maximalists who also happen to be big hodlers pushing them to sell and leave. and they’re doing it pretty successfully.

a non-believer in monetary maximalism trying to be a bitcoin authority is like an atheist with good bible knowledge trying to lead sunday church prayers.

we all started as monetary maximalists. some stayed, others drifted.

if you’re fundamentally right, you don’t need technical skill to defend it. if you’re fundamentally wrong, no amount of technical skill can save it.

gonna be fun

random saturday thought: stables are gonna be big, very big. but no way they let eth eat this whole market. global finance already knows: eth is tech, and bitcoin is money. only the money survives, tech comes and goes. they’ll keep inventing new L1s for the next 5 to 10 yrs, but in the end everything will settle on bitcoin.

Weekend loading… 🍺🫛

we’re not in an ai bubble (yet). my favorite indicator: nvidia at 26x forward earnings. in the dotcom bubble cisco traded at 60x, wasn’t nearly as crucial, and wasn’t growing 40%+ revenue.

being a bitcoin dev is more about stewardship than authority. at this point in time, i’m not 100% convinced that protecting the protocol’s principles, aligning with its users, and the idea of bitcoin are at the top of core devs’ priority list and that’s a real risk for me. this is how i feel today.

biggest existential risk to bitcoin is that a group of devs decide their vision matters more than the idea of bitcoin itself. think about that!

remember when core supporters with borrowed opinions from their idols laughed at bitcoiners running knots. now they’re the ones posting charts counting v30. i just want tens of different clients running bitcoin so these creatures stop pushing their borrowed opinions on others who think different. i couldn’t care less about knots but lately these clowns been pissing me off.

market gods punishing the leveraged sinners. much, much higher we go.

principle 1: it’s only money principle 2: never mess with principle 1

hugging my pre segwit node

old habits die hard.

saylor is a gentleman, so he’s being kind to the datacarriersize scammers.

so let me get this right. tether and openai are both raising at $500b valuation. it’s being framed like a battle between crypto and ai. except one runs on 50 people with 99% profit margins and the other is just torching cash nonstop.

twitter is full of bitcoin grifters. real ones to grifters ratio is like 1 to 200 😂