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Bitcoin Is Money, Not Data Storage! BIS #206 with Hardfork Mechanic

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12,718 Aufrufe • vor 3 Monaten •via X (Twitter)

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Great video from Hardfork Mechanic explaining the current OP_RETURN situation. The choice isn’t between bloating the UTXO set or increasing OP_RETURN, it’s whether we normalize spam or we reject it. Is #Bitcoin for data storage or financial transactions.
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Great video from Hardfork Mechanic explaining the current OP_RETURN situation. The choice isn’t between bloating the UTXO set or increasing OP_RETURN, it’s whether we normalize spam or we reject it. Is #Bitcoin for data storage or financial transactions.

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I'm not happy about the OP_RETURN change in v30 as much as the next guy, but I also recognize it's not a significant change to bitcoin because 1) these transactions were _already_ consensus valid and were _already_ getting mined with libre relay and slipstream and 2) arbitrary data storage in other fields, such the witness signature, already allowed sizes larger than this and are 4x cheaper per byte than OP_RETURNs. Even post v30, arbitrary data storage in OP_RETURN fails to be economically competitive with them Don't get me wrong, anti-spam is a rational position, but Luke and Mechanic have been terrible leaders of this movement. They've transformed what was originally an anti-spam movement, into what is now clearly an anti-bitcoin movement. Many of you guys' entire internet identities now revolves around hating bitcoin, hating its developers, and spreading FUD like a bunch of deranged bcashers. Throwing out the baby with the bath water and getting bitcoin derangement syndrome over a benign change like this is retarded. Maybe in an ideal world I wouldn't have made this change either, but bitcoin is not a utopia. You need to accept that bitcoin is not about you. The nature of rough consensus is that it's full of philosophical compromises, and you can't always get what you want.
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I'm not happy about the OP_RETURN change in v30 as much as the next guy, but I also recognize it's not a significant change to bitcoin because 1) these transactions were _already_ consensus valid and were _already_ getting mined with libre relay and slipstream and 2) arbitrary data storage in other fields, such the witness signature, already allowed sizes larger than this and are 4x cheaper per byte than OP_RETURNs. Even post v30, arbitrary data storage in OP_RETURN fails to be economically competitive with them Don't get me wrong, anti-spam is a rational position, but Luke and Mechanic have been terrible leaders of this movement. They've transformed what was originally an anti-spam movement, into what is now clearly an anti-bitcoin movement. Many of you guys' entire internet identities now revolves around hating bitcoin, hating its developers, and spreading FUD like a bunch of deranged bcashers. Throwing out the baby with the bath water and getting bitcoin derangement syndrome over a benign change like this is retarded. Maybe in an ideal world I wouldn't have made this change either, but bitcoin is not a utopia. You need to accept that bitcoin is not about you. The nature of rough consensus is that it's full of philosophical compromises, and you can't always get what you want.

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