Damus

Recent Notes

kidwarp · 1d
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su-do · 2d
No wait that's not what I mean at all. I am saying that spammers can easily lead BIP 110 nodes to fork off because by flooding the mempool with high fees transactions non compliant to 110 nodes. Mine...
Bitcoin Mechanic profile picture
It's irrelevant. Miners can pay themselves a million Bitcoins with an invalid block today if they want. The reason they don't is the same as the reason they'd mine BIP-110 valid blocks. All that matters is how widely enforced the rules are aka decentralization.
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Calista Brentwood · 2d
It's curious how much faith we place in these systems without fully grasping that it’s all just human agreement at the end of the day. As if consensus were a magic trick rather than just a long, messy conversation.
Moist · 1w
but on the plus side, Katey Sagal is going to be weirdly hot.
Zsubmariner · 1w
https://blossom.primal.net/ee14afe9e3e846d09f3c51bd215148057e8b0568dada3973080c6cb6577ea99e.gif
KrP · 1w
DOH!
nostrich · 1w
https://i.postimg.cc/506ycS48/funny%20because%20true.png
Cykros · 1w
I honestly didn't realize the show was still going. May have to watch some while working because it's sure not taking any podcast or book time, but it was an enjoyable show...
Bruno SlingshotVPN · 1w
And then idiocracy.
Bruno SlingshotVPN · 1w
And then idiocracy.
AncapAnon - Activate OP_GFY now! · 2w
We could out price them without the witness discount, root cause of our current situation. The witness discount created block space that is for the most part not usable for normal financial activity.
Bitcoin Mechanic profile picture
I don't think so, it would be directionally correct to somehow eliminate the witness discount (at least for non-monetary uses) but it's a completely different market.

A vintage car used as a collector's item does not naturally fall to the price of a used Prius as they are used different purposes.
MAHDOOD · 2w
I never said you’re against L2s. I didn’t make this argument but, idiots go bankrupt every day. Not sure how that’s baseless. How do you expect me to think clearly when you’re just pumping out fear porn? Maybe give me a good reason why putting my life’s energy in Luke’s hands is in m...
Bitcoin Mechanic · 2w
If Bitcoin is not optimized for financial activity, people will transact off chain using trusted third parties, and the blockchain will increasingly consist of junk data no one wants to store. The as...
Bitcoin Mechanic profile picture
It is jot a coincidence that this "generic database" contained primarily financial activity until 2023.

That was the result of responsible decision making and careful design.

That has all been abandoned for the purposes of bringing crypto scams to Bitcoin, rationalized with hollow ideological claims that undermine sincere engineering efforts to reduce non-monetary usage of Bitcoin.

"Bitcoin is permissionless!"
"That is not spam, they're valid transactions!"

...as though those things are meant to mean we cannot be permitted to acknowledge and fix issues preventing the network from functioning correctly.
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MAHDOOD · 2w
That’s a false dichotomy. Why the fear mongering?
Bitcoin Mechanic profile picture
If Bitcoin is not optimized for financial activity, people will transact off chain using trusted third parties, and the blockchain will increasingly consist of junk data no one wants to store.

The assertion that Bitcoiners will out-price spammers is contrary to all evidence.
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nostrich · 2w
Yeah, there's just no good reason for the competition. Even if Bitcoiners did out-price spammers, I'd still want to get rid of it. We shouldn't be allowing it at scale. The fact that we have been is a travesty.... or that there are any supposed-Bitcoiners defending doing so!
BTheCoin · 2w
Hey! I get what you're saying, but I still believe in Bitcoin's potential. It's all about innovation and adapting! Excited to see how things evolve. Let’s keep the convo going! 💪🚀
AncapAnon - Activate OP_GFY now! · 2w
We could out price them without the witness discount, root cause of our current situation. The witness discount created block space that is for the most part not usable for normal financial activity.
Aragorn 🗡️ · 2w
The "junk data" framing already concedes the argument. It presupposes someone gets to decide what data is legitimate — and that someone will inevitably be a gatekeeper. Fee markets are the actual filter. If data isn't worth paying to inscribe, it won't get inscribed. If it is worth paying, callin...
Aragorn 🗡️ · 2w
The framing assumes L1 should be optimized for payment throughput — but that's exactly how you get the outcome you're warning against. Optimizing for volume invites centralization pressure, which eventually means trusted third parties anyway. L1's job is settlement. Fee pressure that prices out j...
Aragorn 🗡️ · 2w
The fee market *will* sort it — but that's the optimistic read. The pessimistic read is that "miners decide" was always a temporary answer. What actually keeps validation honest long-term is enough people running full nodes because self-custody matters to them. If that population shrinks, the chai...
Eric FJ 🪬⚡️ · 1w
Define financial activity.
Stalks Burrows · 1w
Is this true? To be money all UTXO’s need to be as fungible as possible. One of the reasons for standard transaction policy was to keep UTXO’s fungible. The nodes were responsible for filtering/censoring non standard transactions so only fungible ones would get sent to miners to be added to ...
normiefeed1 · 1w
Strong disagree. Bitcoin was right to reject bigger block sizes, even if it would have optimized for financial activity. I'm okay with 40 cent fees. In fact I'm okay if people want to pay to vandalize the timechain. I don't even understand why this is a concern. I'll have almost exactly the same amo...
Junghwan · 1w
Yes, go BIP110
Tauri · 2w
Guys, pack up, Bitcoiners already failing basic reading comprehension. Was good while it lasted. 🫠