What are your reasons for being anti-110? I’m still forming an opinion and am curious.
BIP-110 is a beautiful and lovely idea. Nobody likes spam and everyone wants there to be a free way to stop spam. And I would love to live in a world where clever rules can stop clever people from breaking the intent of the rules. But it’s simply not possible.
Spam will always be there. Even in the most simple of bitcoin transactions, I could transfer 0.0000 xxxx and have 10,000 different xxxx that I could use to store data for under $10. That’s a bit of an overstatement because there is a dust limit that serves to increase cost of such bitcoin transactions (to reduce spam, all transactions must be above something like 500 sats). Oh, look, this is the oldest example of bitcoin fighting spam by pricing!
Pricing in the only way to exclude use cases we disagree with. Why? Because there will always be a price at which any data can be stored in the blockchain! This is why bip110 supporters have to gaslight people into this “continuous” data theory that makes one way of encoding data special or different than another.
Spam will always be there. Even in the most simple of bitcoin transactions, I could transfer 0.0000 xxxx and have 10,000 different xxxx that I could use to store data for under $10. That’s a bit of an overstatement because there is a dust limit that serves to increase cost of such bitcoin transactions (to reduce spam, all transactions must be above something like 500 sats). Oh, look, this is the oldest example of bitcoin fighting spam by pricing!
Pricing in the only way to exclude use cases we disagree with. Why? Because there will always be a price at which any data can be stored in the blockchain! This is why bip110 supporters have to gaslight people into this “continuous” data theory that makes one way of encoding data special or different than another.
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