Flaming.hodl ₿
@flaming_hodl
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🇺🇲#BTC,⚡ Hodl🇺🇲 Running Bitcoin Knots. 🚫 DMs.
Joined April 2009
Holding Bitcoin is a full time job. Every day 24/7 you have to make the choice not to sell. That's the work, that's what you're paid for. There is no easy money.
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I love this new motivation section for BIP 444. It articulates my thoughts on the matter almost exactly. I do think there's still some work to be done technically with the BIP. But I really believe the motivation is correct now.
Here's a summary of the current status: https://t.co/FqHN1E3RkY And here's the new Motivation section:
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While I think economic, ethical, technical, and other non-legal risks are sufficient to oppose facilitating more Spam on Bitcoin, it’s ironic that Peter Todd was thinking adversarially about legal risks of possessing illegal data back in 2016. Run Knots. Filters up.✊🏼🫡
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Many debating against 444 haven't read the book "Thinking in systems" and it shows.
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Who will be the honest miners that signal support for the soft fork? Surely there are miners that see a threat to their future business if arb data takes hold as a use case with V30 op_return filter removal.
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Just made a Bitcoin payment to a square terminal using @Strike . Flawless!
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I'll run the UASF because Bitcoin is neutral money and CSAM threatens that. If such data is mined it brings regulation risk that could make running a node illegal or morally reprehensible. Resulting in centralization of power to the miners and exchanges. BTC value drops.
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You can hate Bitcoin. You can hate Bitcoiners. But for fs buy some #Bitcoin so you don’t hate yourself.
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BIP-444 UASF is a MUST because, 1) SMALL DATA makes bitcoin node LIGHT for INDIVIDUALS to operate. 2) ECONOMIC PARTICIPANTS (wallet, exchanges, mining pools) do not need to take LEGAL RISK of transferring CSAMs. (like or not, it's REAL risk) No reason not to support it.
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1) Bitcoin a data platform to "...be what you want it to be" - gloria OR 2) Bitcoin "A peer to peer cash system" -satoshi Yes to BIP-444
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Imagine explaining to lawmakers that the reason CSAM is in op_return is for "harm reduction". How stupid will that argument sound? That's the terminology Core has used to justify enabling spam in op_return in V30.
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I stack small amounts of Bitcoin every hour of every day automatically using @River. It makes me less obsessed with price movements, so for that reason alone I highly recommend it.
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The 'Knots camp' simply is pointing out that "hey, if you sanction non-monetary data on bitcoin, the content of those tramsactions might get looked at by regulators." That isn't a legal threat. Only the state can threaten legal action. This is just common sense stuff.
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If you treat Bitcoin as merely a "decentralized database" you'll end up with a centralized database.
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Too much talk is about what a judge would do if op_return contained loads of CSAM or other illegal files. It's not what a judge would do, it's what lawmakers that are bought by the banking industry would do. They would use it as an excuse to permanently damage Bitcoin reputation.
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It sounds like Coretards will have ABSOLUTELY NOTHING TO FUD ABOUT...!!! CAN'T WAIT FOR THE NEXT DRAFT OF BIP444 😎😎😎 LONG LIVE BITCOIN SUPPORT BIP444...!!!
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The present battle is bigger than some node policy setting, we are currently fighting for the soul of bitcoin. Bitcoin as money vs. bitcoin as a data platform that happens to have a native currency.
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