What’s the economic power of my node when I dump my spam on exchange and buy a big ass boat and say fuck it and become a pirate.
Puzzles's avatar Puzzles
If exchanges do not enforce BIP-110 then we can sell spam coins on the exchange by sending a tx with more than a 83byte OP_RETURN and keep our Bitcoin.
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If exchanges don’t enforce BIP-110 we can send invalid transactions on the 110 chain that are valid on the spam chain. Exchanges have significant risk.
This is happening for real. Why does it have to be this way? Even my heart cries but who cares.
then what? are you sure your 110 coin is as valuable as the one u just irreversibly cashed out? One way path - HFSP
On second thought matey Smee 🦜 better keep them to get through Hormooz and maybe the Dardanelles by then. If Smee sends the spam coins surely the exchange will ask for filter compliant coins as well before crediting the pirate with any more coins of any type...
Does this mean we have to worry about UTXOs that are on Bitkeys? Because there's no open source way that I'm aware of to control them.
Right. You are dependent on Bitkey’s / Block’s node and have traded sovereignty for convenience.
Ahoy there matey You are implying that exchanges would enforce BIP-110 only deposits ?!? Only the spam can be peeled off. Doesn’t work the other way around mate.
Those exchanges know a pirate when they see one. They stand to lose a lot of money if they let treat them all the same. I can't imagine them accepting the spam ones and saying they don't need the other ones too πŸ˜‚. They have seen a scam or too im sure.
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