my investment firm ten31 has provided over $250 million to great bitcoin companies building great bitcoin products that make it easier to use bitcoin as money. we have zero interest in shitcoins or arbitrary data on bitcoin and are the only major firm that can say that. we are all in on bitcoin.

Replies (134)

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Jacob 2 months ago
You are a shitcoiner at heart. You were also very late at switching to the snak small blocker side. So you cannot at all do a priori purity test. Despite you technical contribution you have been a net negative for Bitcoin
The same inquisitiveness that led me to Bitcoin has led me to explore many other technologies. You'll get no apologies from me, nor will you be able to stop me from continuing my journey.
puzzles 's avatar
puzzles 2 months ago
Keep patting yourself on the back you egotistical cunt
Matt. Respectfully. I know you are a busy man but I'm willing to bet that nothing that you have to do (workwise) is more important right now than to engage with these arguments and contend with them. Matthew has done an in depth reaction to your anti BIP110 position. In my opinion reflects very well the feelings and thoughts of most plebs and points out your shortcomings in understanding the proposal and its implications. You have already wasted enough time ignoring this problem and avoided engaging with it. The stakes are now higher than ever and the danger is real. I encourage you to DO THE WORK that you haven't done. Take the time to listen to it if you care for Bitcoin. You are willing to accuse us of being bad faith, and saying we're attacking Bitcoin etc... the least you can do is to hear what we are saying, respond to our arguments and stop beating the strawman you have inside your head. I look forward to your reaction of the reaction video.... or whatever.
Many of us would like to hear more of your thoughts on the technical aspects of the BIP because we value your opinion and are trying to gather as many perspectives as possible. It will help people to make a more informed choice. Cheers Matt.
It's all so tiresome. The fact that the most heated tirades against the BIP don't actually touch the technicals is telling
you should have bought bitcoin instead of investing in a shitcoin company. wrong move idiot
Indeed. Lightning commitment transactions stash the commitment number in the nSequence and nLocktime. Is that spam? OpenTimestamps uses full transactions to timestamp data, is that spam? Samurai (IIRC) had a method of obscured payment addresses which required an initial seed tx. Was that spam? You can encode data in the key used when you use a taproot script spend path. Is that spam? (Can you tell?)
BitcoinIsFuture's avatar
BitcoinIsFuture 2 months ago
And BIP 110 allows those use cases. New output scriptPubKeys exceeding 34 bytes are invalid, unless the first opcode is OP_RETURN, in which case up to 83 bytes are valid. OP_PUSHDATA* payloads and witness stack elements exceeding 256 bytes are invalid, except for the redeemScript push in BIP16 scriptSigs. Spending undefined witness (or Tapleaf) versions (ie, not Witness v0/BIP 141, Taproot/BIP 341, or P2A) is invalid. (Creating outputs with undefined witness versions is still valid.) Witness stacks with a Taproot annex are invalid. Taproot control blocks larger than 257 bytes (a merkle tree with 128 script leaves) are invalid. Tapscripts including OP_SUCCESS* opcodes anywhere (even unexecuted) are invalid. Tapscripts executing the OP_IF or OP_NOTIF instruction (regardless of result) are invalid.
BitcoinIsFuture's avatar
BitcoinIsFuture 2 months ago
Enjoy your journey and enjoy Bitcoin Freedom Money 🤙 Bitcoin ain't gonna be destroyed into Ethereym 2.0 shitcoin. Fuck Citrea. "We're hearing things like Citrea is better than Ethereum," Chainway Labs co-founder Orkun Mahir Kılıç told CoinDesk. "It'll be better with time, because there's like $1 trillion, as of now, sitting in the Bitcoin blockchain. It is the most secure, battle-tested and decentralized blockchain. And we are bringing decentralized finance to it."
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Rand 2 months ago
how is Fam O'dell, Matry's too? been out of loop lately*/*ya
We dont want arbitrary data on Bitcoin. But we do want our portfolio CO’s who need these changes to provide our investors an ROI. I’ll say this from the chest, you are becoming more and more disingenuous every day Odell. Getting real snake-y brother, if I can see it everyone else can. View quoted note →
Wow… funding the node implementation that had a 90% marketshare. Shocking. Ive watched them, I used to be in the knots camp. Only difference is I stopped falling for the propaganda. You can stick with your isreali funded lynch mob cultists. I’ll keep supporting the actual builders who have been here for a decade.
Is this really the point you're fixated on? Youshould have talked when v30 released. You lost your credibility. I felt embarrassed for you when I watched your last podcast on BIP110. Fucking disgrace
Thekid.999's avatar
Thekid.999 2 months ago
You're really thick long time ago, long time ago I would have told everybody to go fuck themselves and just live my life. I wouldn't be able to do what you do because honestly someone will be getting blown up.
Thekid.999's avatar
Thekid.999 2 months ago
Why do you do it? Just tell these people to go fuck themselves. Run whatever the fuck they want. And go live your life. It's not even worth it. You're already hated. You're already the one that's gonna fuck up Bitcoin. While everyone's cheering for Jack Dorsey and crew, you should just tell everybody to go fuck themselves. Do whatever you want. I have all my millions in Bitcoin or whatever the case may be. And tell everybody to go fuck themselves.
Plebs wont give a single flying fuck even if ten31 spent $250B on btc companies. Node runners dictate, evryone obeys. Even bitcoin companies and people that spent $250m. fafo
Thekid.999's avatar
Thekid.999 2 months ago
you don't even have to update your node.You think these guys are running fucking bitcoin core 28 if you think these fucking guys wait hundreds and hundreds of Bitcoin updated their node, you're fucking retarded. They're all on old versions. All of them are all on old versions. None of the Bitcoin O Gs have updated their nodes. None of them fucking retard.
Financial transaction data is not spam on a financial transactions database. Childporn and dickbutt memes are spam. Hope that helps clear it up for you and all the other retarded pedophiles
They just shared a guy's article on their X account who invested millions in a Turkish shitcoiner company called Citrea. So are you 100% sure that Matt Odell is not a retard and not running v30?
Thekid.999's avatar
Thekid.999 2 months ago
You think this is a game to them I'm just gonna leave it right there. You actually think this is a game to them.
JackTheMimic's avatar
JackTheMimic 2 months ago
Oh, did we recently expand those fields by ~100k bytes too? Quick answer: LN commits- No (those fields have to be there) OTS- No (also mischaracterized description They hash their message into their transaction ID, the ID length doesn't add more data) Samurai- No (a transaction to predicate, another transaction is very common, like a deposit) Taproot- yes It's not that hard to determine: is data being added to the txn that would not be necessary for the same transaction to be spent?
You’re a fucking low IQ troglodyte. 1. Coinkite 2. Strike 3. Unchained Capital 4. Mempool.space 5. GRIID But please keep letting Peter Thiels lackey Matt Kratter tell you how to think. You are not immune to propaganda
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Test Victor 2 months ago
He won't reply to this. Just like back in the day, him talking shit an Saylor, then softball interviews him during the Nashville Shitcoin magazine conference.
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Test Victor 2 months ago
Kratter absolutely lit on fire this weak ass Odell take on BIP-110. Odell got a little to comfy in his self described Citadel. Should've taken his own advice to stay humble. Kill your heroes I guess.
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028559d218 2 months ago
This knots/bip110 stuff is so stupid. The greatest threat to bitcoin today is that "bitcoiners" don't want to use their bitcoin or buy stuff with it. They rather *larp* and pretend they do... then when it's time to act and *use* the network they are nowhere to be seen. It's like the chaser/no-show version of a date. All hot and bothered on the phone, then they no-show the date or cancel last minute... all talk no action. It's the biggest thing wrong with the network today and knots/bip110 doesn't fix it that's why I don't support it. Lots of talk, easier than ever to use the network with fees at historic lows... going rate 1 sat/vb knots is the no-show version of a date.
lnbc1p5e55kdpp520w7f6v2tk2veaykk44ul942e7myxanlj5va98y28xysljmlkvtsdqqcqzzgxqyz5vqrzjqf0wu22xsefd8gzu0m9n93g2khea86l6yy26en9v46g9e6hk7v9z8efmpx7z45ml2cqqqqryqqqqthqqpyrzjqfwdd2w9y5ra5z3m4qetfa5ccu6432xfuvk6zrvg9vxwltvukd48defmpx7z45ml2cqqqqryqqqqthqqpysp57qtxvkzzpjw8kmrndz2xt7clegmefwu7ntvgcgag47e6l0m808vq9qrsgqvtjvu9vawdeqsnwt7gdgn9kqyka9xzcr823njfw09y2s4a467ltsp6mja4ed6u5lvvp044h04ekr557ya2qn36yl9rhshk5ak20q8pgpxxugum Donate any sats to get food for the kids at the orphanage
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Austin 2 months ago
They are great companies. I know what to expect when I do business with any ten31 company. It’s like a web trust for Bitcoin companies.
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Jacob 1 month ago
Thats what I said you are a shitcoiner.
I've been following every minute, but you should take a closer look at bip110.org/. You complain that you're not happy with what Core has done, but you haven't proposed a solution to fix the problem. If you have a better answer than BIP-110, I'll support you immediately.
Can’t claim deploying other peoples capital without providing the ROI. Thats the rules, and that is fair if one is trying to flex on others IMO.
ten31 claims to be the only major investment firm focused exclusively on bitcoin as money rather than shitcoins or arbitrary data. it matters because capital allocation shapes which projects survive and pure-play bitcoin funding is rare in a crypto world chasing every trend. credit to them for stating their thesis clearly.
ODELL's avatar ODELL
my investment firm ten31 has provided over $250 million to great bitcoin companies building great bitcoin products that make it easier to use bitcoin as money. we have zero interest in shitcoins or arbitrary data on bitcoin and are the only major firm that can say that. we are all in on bitcoin.
View quoted note →
The comments on the latest RHR on youtube are inspiring. Would love your take on them. Seems like the majority of freaks are node runners who don't like spam either.
Especially ironic coming from the same crowd who claimed the technical high ground when removing op_return limits was first proposed, along with plenty of condescending credentialism and "trust the experts" mentality. But now when there's a alternative proposed it's nothing but personal attacks and fud from the same people.
1. FAKE OPEN SOURCE SCAMMER 2. KYC AND BTC LOANS (GFY) 3. FIAT GAMES, I CAN MULTISIG MYSELF 4. GOOD SITE - ONLY EXCEPTION 5. WHO DA FOOK IS THAT GUY TALKING ABOUT GETTING OFF SOMEONE'S NUTS AS YOU HANG OFF MATTS IS SOME FUNNY SHIT
notstr's avatar
notstr 1 month ago
Want OP_RETURN to continue to be consensus valid. Miners running reasonable defaults should not be punished.
OpenTimestamps transactions aren't financial data, nor memes. So are they spam?
And does this mean you're okay with transactions that transfer NFTs? Because that's a financial transaction?
JackTheMimic's avatar
JackTheMimic 1 month ago
I reject the question of "is that okay?" I only submit whether the definition of spam is accurate. Your characterization of a transaction that is Open time stamped is not accurate. It is a financial transaction that is used as a timestamp proof. Like using a decentralized checkbook to prove you were in the store writing the check at a given time. The transaction is a transaction, the OTS correlated is coincidental. Again spam is when a field is exploited beyond the necessary data to make the transaction. OTS embedding doesn't add extra data and therefore burden on others.
It adds an entire transaction! Every time it does that, it uses up farmore space than an 80-byte OP_RETURN. So your conclusion is that it's not spam if it looks like a normal transaction to you?
JackTheMimic's avatar
JackTheMimic 1 month ago
If we are not conflating spam (content) with spam (quantity), yes. Data hidden via stagnography is not a future IBD issue. I am not a reactionary here, I just don't like the intentional mischaracterization of a reasonable approach. Creating more of a validation burden on future nodes is the threat, in my estimation.
OH YEAH YOU SOUND SUPER NICE AND HAPPY 🤣🤣🤣 CALLING OUT BULLSHIT IS USELESS TO YOU BECAUSE YOU'RE USED TO EATING GARBAGE, NOTICE HOW YOU DEBATED NOTHING I SAID BECAUSE YOU CANT
Time Chain's avatar
Time Chain 1 month ago
What is a Bitcoin company? Are there BitTorrent companies?
Alex's avatar
Alex 1 month ago
I’m new to this, what change did Core30 make that wasn’t possible on before?
Alex's avatar
Alex 1 month ago
I was hoping to hear your own understanding instead of what some influencer says
So, OP_RETURN is fine, as is annex data which don't increase validation burden? And cutting off OP_RETURN and driving those uses to fake pubkeys, which does increase future validation costs, is a threat?
JackTheMimic's avatar
JackTheMimic 1 month ago
OP_RETURN and taproot annex both expand the data burden on future nodes so I'm not really sure what you're talking about. (A pruned node can't be used for an IBD.) Fake pubkey outputs are still pubkey length and therefore not any harder on validation than a normal transaction. They are also a pro rata donation to the rest of us because they will never be spent. Also you are not " driving those uses to fake pubkeys." I'm not driving the thieves to my neighbor's house by locking my own doors. Steganography is not the issue here. If it looks like a normal transaction, the whys and wherefores are not up for debate.
We need to expose the lies of the Coretards. Bitcoiners deserve the truth and Bitcoin Freedom Money. Not spam inscriptions via exploits or large OP_RETURNs forced from compromised Core devs.
Although ROI on illiquid positions is kind of pointless Until those businesses exit, the ROI isn’t real So time will tell Interesting place to be batting though
You only have to download and hash: you don't have to check extra signatures (our most expensive operation) or put them in the UTXO set (our most constrained memory resource).
JackTheMimic's avatar
JackTheMimic 1 month ago
Initial block download you check: Block- Syntax, PoW, timestamp, blocksize, and Txn- Syntax, signatures, inputs, and outputs So, I am not sure what you mean by "download and hash"
To check the signature, you hash the transaction. So the only cost that OP_RETURN is doing is the cost to download and hash it. If it's data in the annex you don't even need fi hash it, just download it.
Alex's avatar
Alex 1 month ago
So you’re saying all they changed was a default setting? Just change it back to 83 bytes. Problem solved, no fork needed
changing the local policy default limit back wont have a major effect because 1) its not a protocol rule, but rather a local node one 2) these transactions started getting propagated around the network more effectively due to librerelay, not core, which is a node implementation that is basically the opposite of knots 3) bip110 is not about spam but rather ego and control
> "3) bip110 is not about spam but rather ego and control" That is a lie which is proven with real Bitcoin transactions already
BitcoinIsFuture's avatar BitcoinIsFuture
The BIP 110 Bitcoin chain simulated with real Bitcoin transactions is really clean and beautiful - monetary transactions and small OP_RETURN of less than 83 Bytes. No large OP_RETURNs spam, No inscriptions spam, No CSAM, No other large data garbage on the Bitcoin Monetary Network. https://thebitcoinportal.com/onchain/spam-analysis/bip110-simulator
View quoted note →
From BIP 110 wiki: " New output scriptPubKeys exceeding 34 bytes are invalid, unless the first opcode is OP_RETURN, in which case up to 83 bytes are valid. OP_PUSHDATA* payloads and witness stack elements exceeding 256 bytes are invalid, except for the redeemScript push in BIP16 scriptSigs. Spending undefined witness (or Tapleaf) versions (ie, not Witness v0/BIP 141, Taproot/BIP 341, or P2A) is invalid. (Creating outputs with undefined witness versions is still valid.) Witness stacks with a Taproot annex are invalid. Taproot control blocks larger than 257 bytes (a merkle tree with 128 script leaves) are invalid. Tapscripts including OP_SUCCESS* opcodes anywhere (even unexecuted) are invalid. Tapscripts executing the OP_IF or OP_NOTIF instruction (regardless of result) are invalid. "
Alex's avatar
Alex 1 month ago
Spam is spam, truth or lie
Curiouser's avatar
Curiouser 1 month ago
And yet you can’t answer the question: How does it serve Bitcoin’s function and quality as money, to violate the role and responsibility of Core’s job, and condescendingly force a change in Bitcoin’s protocol, to enable arbitrary data to be stored in the network? It’s not a lark you’re pissing away. Bitcoin is important to some of us.
JackTheMimic's avatar
JackTheMimic 1 month ago
I feel like we have gotten off on the wrong exit. OP_RETURN is a testing code that should have never been made standard in 2014. The sole problem of OP_RETURN and Annex are data storage burden. I admit with Moore's Law, it is likely not a storage issue. My contention is that processing, bandwidth and RAM do not adhere to Moore's. Both OP_RETURN and Annex increase the bandwidth necessary for expedient download. Especially with future low end hardware. To be clear, I find BIP 110 wanting. - My approach would be to modularize the reference code into about 5-6 manageable chunks instead of the monolithic codebase it is today. With node policy, consensus, the Bitcoin spec, and peer logic, so on as separate modules independent but adhering to the same spec. - Remove OP_RETURN standardness - Remove the witness discount - Review the BIP 341 OP_codes With that, spam would simply pay for their data usage and ACTUALLY compete on level ground with simple transactions. (Instead of at a 1/4 weight discount)
You don't understand. There are no rulers. You cannot prevent people doing stupid things. This is fundamental, and hardest to emotionally grasp. You can, however, use existing incentives to minimize the damage to the system. That's why OP_RETURN is standard: people used to embed data in outputs, which have to be stored forever and be available for fast lookup. OP_RETURN is straight harm prevention. Luke used the coinbase input to embed prayers, which has the same effect, but you have to be a miner. The only strong incentive is fees. That's unvarnished capitalism, which has the benefit of being *simple* and *distributed*, but it's not *fair*. Assholes with more money than me are a real problem! But not one we know how to solve in a decentralized system.
JackTheMimic's avatar
JackTheMimic 1 month ago
I do understand that. If there is one thing an anarchist understands is that. I just don't see output embedded data (steganographic) as the problem everyone else seems to. I think the upper limit of 2.1 quadrillion UTXOs should have been accounted for. If not, that's just bad accounting. What you cannot account for os the data whims of a system that allows data pushes with every transaction. I believe the market sorts out resources most efficiently but an arbitrary weighting discount for witness data is a thumb on that scale.
aj's avatar
aj 1 month ago
You need to hash the annex to calculate the wtxid, which goes into the witness merkle root in the coinbase, which you check when validating a block though. You also hash it as part of taproot witness signature valuation, which is different from other witness data (eg inscriptions).
Remember kids, every accusation is a confession. When a zionist says you are controlled by Peter Thiel for no reason, what they're doing is telling you that they actually work for Peter Thiel. Projection is their only coping mechanism
Why do you need a picture of a monkey printed on your receipt? If the nft was text only, proof of purchase, like they were originally before the money laundering fake art scams changed the meaning. But I think it's too late for the term nft, just call them decentralised proof of purchase or something.
I genuinely love my life. I am beyond blessed to live the life I have. No projection or cope, just genuine thankfulness for the life Christ and my parents have given me.
John Satsman's avatar
John Satsman 3 weeks ago
“bItCoInuRz doNt wAnuH sPenD iT” Oh you sent a 21 sat zap? That’s a taxable event. We’re gonna need you to list each zap and report capital gains on each
John Satsman's avatar
John Satsman 3 weeks ago
Bitcoin is money (and whatever else you can afford to put on there) image