I came to as realization today talking to @dylanleclair on spaces and then @americanhodl8 on clubhouse after. The on chain apex spammers / ruthless capitalists might actually do more to save #Bitcoin from “clean block” censorship by wall st capture than StratumV2 🤯 1) The amount of block space demand from spammy BRC20 speculation txns has been a significant source of mining revenue this last year. 2) The mining dynamic has shifted significantly from altruistic bitcoin-aligned miners in the early days to pure capital market agnostic ruthlessness. 3) As hash power has concentrated to US Public Companies, the risk of US centralization is real. 4) The supply of international speculators gambling on anything, including on JSON data inside Bitcoin transactions, however silly, is a significant factor that we’ve not had a to this level in bitcoin’s history as money is dying globally at a faster rate. 5) I did an unbiased look at the amount of money and attention going into inscriptions based Bitcoin “metaprotocols” like BRC20 and it is significant. It’s not going away. As @DavidFBailey points out, there’s an Exodus from Crypto to Bitcoin which is hasn’t even really started yet. 6) After the halving, the block reward will be way less of a factor in mining bitcoin, the economic incentive to cater to speculative onchain transactions will be MUCH greater than it even is now. 7) FOMO to mine bitcoin is increasing globally as it becomes more profitable to mine, meaning the network impact for US companies forced to comply with an ESG or OFAC clean block law will be much lower. 8) In this way, blockspace demand, even if by “spam,” is a free market force that will keep bitcoin censorship-resistant.

JUST IN: Ordinal minted for less than $1 sells for $40,000 #Bitcoin 🤯