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RockoCocko
npub1ecm8...rr4c
Bitcoin & Freedom Maxi | Sovereign Mindset | Decentralisation Advocate | Independent Thinker | Meat Eater | Tech Enthusiast | Blue Light Reducer | Animal Lover | Anti-Ponzi Advocate | Tasmanian | Minimalist
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Rocko 7 months ago
Maybe users should be free to store arbitrary data on Bitcoin’s blockchain if they are willing to pay the fees, aligning with its censorship-resistant ethos. Such data could be vital in future scenarios like information destruction or book burning, preserving critical records. However, this increases the UTXO set, slowing node syncing times. Storage capacity isn’t the issue, syncing delays are, especially if Bitcoin faces threats from powerful entities, potentially hindering users ability to influence its direction through full node participation. Fortunately, solutions like Utreexo and UTXO snapshots are in development to reduce syncing times, and I’m optimistic about ongoing innovations. Higher fees from arbitrary data boost miner rewards, incentivizing mining and strengthening network security, which could be crucial as block rewards halve. This supports Bitcoin’s growth as a global monetary base layer, fostering a freer market and reducing systemic oppression. Compromises like the Lightning Network help manage high fees with several trade offs. Supporting decentralized mining, including home mining, enhances Bitcoin’s resilience. I value Bitcoin for its immutable, fungible, democratic, and decentralized properties, but we must ensure miners remain incentivized to secure the network, paving the way for a global, equitable financial system. That said, I’m not convinced mining profitability will continue to be under threat particularly with the growth of decentralised and innovative solutions coming to home based mining and especially as Bitcoin’s value rises against fiat, which “has no bottom.” Concerns about dwindling block rewards might be temporary a hiccup in Bitcoin’s long-term growth as adoption grows so will node and mining participation, Still, I recognize my perspective may reflect financial privilege from a first-world country like Australia. In many regions, lower fees would have a far greater impact, enabling broader adoption. I’m not wedded to these views and believe we all might need to reconsider rigid perspectives. Bitcoin’s monetary properties are crucial, but I’m eager to learn more, as knowledge is never enough. I want Bitcoin to succeed as money more than anything as it’s my main source of hope in a truly unfair world, not just for "number go up" but the "freedom go up" it promises. I share this to spark discussion, learn from others, and gain new perspectives, acknowledging my view is shaped by the information that I currently have. I could also be completely retarded but I'd like you to explain to me how. There's so many layers to this onion.
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Rocko 7 months ago
5 weeks away from self custodying this little Doberman. Couldn't be more excited! 🥰🐕‍🦺✅ image
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Rocko 8 months ago
The primary concern outside of mining centralization is that Bitcoin’s long-term security and stability are at risk due to low blockspace demand, driven by hodling, off-chain activity, and insufficient monetary use of the blockchain. The drama around this reflects broader tensions about how to address it, whether through Core’s strategies, Knots, or community lead economies, while navigating external influences and ideological divides. I urge you all to actively spend Bitcoin(as I do where possible), and build or encourage solutions. There are consequences to our economic and network choices. Bitcoin is us.
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Rocko 8 months ago
When's the next Block party? I enjoyed the last one even though we didn't manage to mine a block.
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Rocko 8 months ago
I'm excited about Block's entry into home Bitcoin mining solutions! It seems likely they'll use 3nm ASIC chips, with a potential release later this year. I'm super curious about their software approach and whether @npub1tkey...wral will be integrated into the package, even though technically they're being developed by different teams.
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Rocko 8 months ago
I recently heard @HODL mention that the pandemic transformed him, altering the lens through which he views the world and its people. He said he could never unsee this shift, and I deeply related to his words. Interestingly, I feel a similar way about my first on-chain Bitcoin transaction, and that epiphany was more profound with the Lightning Network. The legacy financial system is doomed; it has been out-innovated without even realizing it. Our new permissionless system is superior, and though still in its infancy, this is something I can never unsee. image
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Rocko 8 months ago
Shitcoiners out here looking like one of these. image
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Rocko 8 months ago
"I think that Bitcoin is the greatest team in the world" - Michael Saylor
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Rocko 8 months ago
Surely making Lightning payments accepted when purchasing Primal Premium is a high priority?