OP_RETURN is arb data. A network of uncapped OPR is not a money ledger. It is a network intended to permanently store and distribute arb data.
- Tweets 4,604
- Following 798
- Followers 808
- Likes 12,725
Spam was beneficial to HODLers during the early years.
Traditional UTXO-based steganography is expensive and deflationary.
Providing vastly cheaper, non-deflationary methods was an awful mistake.
3
166
Uncensorable porn storage is a tremendously valuable invention.
Think about it.
Magic internet tokens that let you store porn (any kind) on other people’s computers to access whenever you want.
Forever.
The network even gives you discounts to upload it in certain ways.
$100M per token seems inevitable.
Any downsides I’m not seeing?
4
5
57
1,200
The idea of recording humanity’s coffee and bubblegum purchases on L1 is asinine.
It’s the reason bigger block forks are so laughable.
4
15
377
HODLers and DCAers make NGU.
Savers.
If given a choice:
1) Save porn storage claims on a chain with greater PoW but stagnant hash.
2) Save money on a chain with less PoW but growing hash.
I wonder which one they’d choose? 🤔
1
1
8
322
Is Bitcoin-SHA256 or Bitcoin-BLAKE2b the “real” bitcoin?
Sorry to burst everyone’s bubbles, but they BOTH are.
King Bitcoin is obviously SHA256 (the one for porn).
But all prongs live as long as they’re mining honest blocks.
If the king suffers a stunning fall from grace, however unlikely, living prongs have a potential claim to the throne.
11
4
28
2,122
The classical spam method of storing files on chain with unspendable UTXOs is hated by core NOT because of concern for nodes.
It’s because the method is tremendously expensive.
Take this stupid gif etched on chain with dust outputs to 1,860 fake addresses.
82,000 sats fee for 80kb “transaction.”
Not too shabby. Right?
Wrong.
All of the outputs are effectively burned. That’s an additional cost of 613,800 sats.
Oof.
That makes stupid gifs awfully expensive (and beneficial to HODLers via deflation).
Inscriptions and uncapped OPR are valuable gifts to shitgraffiti lovers.
The *real* way to discourage spam (without uncapping dedicated arb data buckets lol)?
Increase the dust limit.
x.com/mononautical/status/19…
3
1
11
1,055
CSAM flood attack was discussed immediately. Satoshi famously responded: “There are other things we can do if necessary.”
Attackers need “content” and untraceable coin to make it happen.
Sadly, Epstein and crew were early adopters.
2
6
213
