daily reminder that bip110 proponents are clueless
https://i.nostr.build/164uoYDzdlBs2pVk.jpg
Watching the BIP-110 crowd, one German saying keeps coming to mind:
„Wir reißen Bäume aus, wo keine sind."
We're tearing out trees where there are none.
That's the entire proposal in one line. Enormous effort, chest-puffing, "we're saving Bitcoin", against a menace the network already handles on its own.
So-called "spam" isn't some unpriced free-rider. It pays the exact same fee as your transaction does. The fee market solved this on day one: if the data is worthless, outbid it. Block space goes to whoever values it most.
And the "cure" is worse than the imaginary disease. Cap OP_RETURN and you don't stop the data. You just chase it out of the one honest, prunable place it can live and into fake spendable outputs, straight into the UTXO set: the single part of the chain every full node must keep forever and can never prune. Congratulations! You took prunable data and made it permanent.
So yes: tearing out trees where there are none, and salting the earth on the way out.
#Bitcoin #BIP110
„Wir reißen Bäume aus, wo keine sind."
We're tearing out trees where there are none.
That's the entire proposal in one line. Enormous effort, chest-puffing, "we're saving Bitcoin", against a menace the network already handles on its own.
So-called "spam" isn't some unpriced free-rider. It pays the exact same fee as your transaction does. The fee market solved this on day one: if the data is worthless, outbid it. Block space goes to whoever values it most.
And the "cure" is worse than the imaginary disease. Cap OP_RETURN and you don't stop the data. You just chase it out of the one honest, prunable place it can live and into fake spendable outputs, straight into the UTXO set: the single part of the chain every full node must keep forever and can never prune. Congratulations! You took prunable data and made it permanent.
So yes: tearing out trees where there are none, and salting the earth on the way out.
#Bitcoin #BIP110
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