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But how do we balance that with Bitcoin’s neutrality?
Where’s the line between protecting the protocol and restricting usage?
Data storage was always considered an abuse of Bitcoin.
https://en.bitcoin.it/wiki/Spam_transactions
https://en.bitcoin.it/wiki/Weaknesses#Illegal_content_in_the_block_chain
https://gnusha.org/pi/bitcoindev/CAAS2fgSkiqfhJxHJNw8i8G5yd1XY6tUTDynQ+AekbwmHP_jZmw@mail.gmail.com/t/#u
Bitcoin Block space is the SCARESEST and most DURABLE storage network on the planet.
A single HDD/SSD can store a 1MB jpeg for nano-pennies - but it is NOT durable, it will fail unexpectedly.
A raid-array can store a 1MB jpeg for ~$0.01 cent - but it is only single-host durable.
A network storage cluster (CEPH, Gluster, SAN) can store a 1MB for tens of pennies - but is only site/location durable (usually.)
Bitcoin is a Globally/Planet-wide durable storage device. This is a BIG deal, and the shitcoiners have figured it out. We are allowing grifters, like Citrea (Jameson Lopp, Peter Thiel, Eric Vorhees) to store 1->4MB of data onto 60,137 Full-Archive Bitcoin nodes for < $0.0229 per MB replicated! (Napkin math: 1MB*60.1k = $1372fee / ~60GB replicated) - this is planetarily durable!! All of us node runners, now and forever, then must now download, store, and keep in UTXO_Memory; all of this non-monetary bullshit. And we're doing it at OUR TIME and FINANCIAL BURDEN, this is also a barrier to entry for new node runners. [Block pricing reference: https://mempool.space/block/935967 , a stupid ogg/vorbis audio file ] PS: And fuck you Marathon for this block, publicly fiat-traded pieces of shit.
Rug the spammers. Rug Citrea. Rug Marathon. Rug Jameson Lopp, Eric Vorhees, Adam Back, and especially Peter Thiel. We've already voted Vitalk, Roger Ver, Craig Wright, and their ilk off the island. And each time Bitcoin became stronger.
Only utxos need to be stored in memory. OP_RETURN data does not as there's nothing spendable about it. It's always going to be possible to store data you don't like in the chain and whether it's two cents or two dollars per megabyte it's a steal for, and I'll do you one better, universe-wide redundancy. After all that BIP110 still doesn't make sense.
True-ish, on OP_RETURN. It is the lesser of arbitrary data evils (in UTXO memory space, but still a block-space blight. Most ordinal OP_RETURNs float right at the UTXO dust-limit. Meaning it is never intended to be of monetary value, but still remain transferable (spendable). This is how ordinals work... And most-evil are inscriptions which abuse Taproot operations and addresses to encode (inscribe) data into MANY UTXOs. These now represent the majority of Bitcoin UTXOs stored in UTXO memory.
Rug the scammers, take back Bitcoin. BIP110 detractors tend to be emotional mid-wits. If this stuff is OK to anybody here, go research Solana or Ethereum. We built Bitcoin, we were here first.
This is how ordinals work... And most-evil are inscriptions which abuse Taproot operations and addresses to encode (inscribe) data into MANY UTXOs.
You are referring to BRC-20s... they caused most of the increase in the UTXO set. They were designed to "pump" and the "pumpers" gamed them in such a way that the more outputs in a transaction, the "more tokens" you had.
So what did the degens do? Make huge numbers of outputs then lost the keys when they didn't get that 100x that's what happened.
Otoh I don't know how Bip-110 fixes any of this. Bip-110 doesn't stop, prevent, or fix Runes memecoins, their proliferation or the next version of runes whatever they are called that fits in op_return.
The highlighted below is everything with an op_return...
This block burned up > 37 BTC in fees alone. If people are willing to spend that much just to burn it all in op_return how are you going to stop them?
Interesting perspective. The idea of calling it an “eviction notice” makes sense if you see block space as scarce property.
But how do we balance that with Bitcoin’s neutrality?
Where’s the line between protecting the protocol and restricting usage?