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OrangeSurf
_@orange.surf
npub18h0w...ws8m
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OrangeSurf 4 months ago
There's been lots of debate about Core v30 removing the OP_RETURN size/count policy defaults, so I ran the numbers for the latest mempool research report: There were three big waves of OP_RETURN usage: 2019, 2024, 2025. Nearly all standard transactions. The nonstandard ones are so rare you can hardly see them on the chart. image The 2019 Veriblock wave actually put more data on-chain than anything since. People talk about recent OP_RETURN usage like it's unprecedented, but surprisingly it isn't. image The important thing is that the spikes in nonstandard OP_RETURNs were in Mar 2024, May 2025, Aug 2025. All before v30 shipped in November 2025. The rate hasn't gone up since. At all. In fact it's come down image Runes transactions were standard under the old rules and would even still be standard for #BIP110 (the proposal that's supposedly aims to curb data embedding). If these guys are serious about stopping data they should block runes. image TL;DR: v30 recognised what was already occasionally happening on-chain. Nonstandard OP_RETURNs are vanishingly rare, haven't increased post-v30, and the current wave is already cooling off. The data doesn't support the panic. Read the full report linked below 👇
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OrangeSurf 1 year ago
Did you use the bitcoin core wallet in the last year?
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OrangeSurf 1 year ago
Which filter do you think core will drop / change the default for next? - Max Transaction Size - Minimum Relay Fee - Minimum Output Size
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OrangeSurf 1 year ago
Over the past year bitcoin there have been more data storage transactions (inscriptions & OP_RETURN) than other transactions. image
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OrangeSurf 1 year ago
Get yourself to a @btcplusplus event, what @npub1e0z7...0txy and the team have built is truly special. The difference between online and IRL discussion is stark. Online we only see differences. IRL people celebrate similarities.
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OrangeSurf 1 year ago
I've put some numbers together to help you determine whether the horse has already bolted regarding the use of bitcoin for non financial transactions. 49% the UTXO set is sub 1000 sat outputs 43% of transactions in the past 2 weeks had an OP_RETURN or were inscriptions. image
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OrangeSurf 1 year ago
A third of all transactions in the past 30 days were BRC20
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OrangeSurf 1 year ago
Imagine this in the distant future. You buy a new bitcoin signing device which is open source (hardware & software). You stop by @Bitcoin Park and pay 100 sats to use their chip verifier. It checks that your hardware wallet chips match the open source spec. Sounds like science fiction, but check out this new talk by Bunnie Huang where he presents a technique for "seeing through silicon" - inspecting chips which are on circuitboards from the backside without removal.
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OrangeSurf 1 year ago
What is the best long form criticism or caution regarding the strategic bitcoin reserve?
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OrangeSurf 1 year ago
Tired of waiting? Use Mempool Accelerator like this bitcoiner did. DM me if you want more info image
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OrangeSurf 1 year ago