Nostr Web Client

I think JPEGs on the timechain are stupid.

But the idea that they're going to hurt Bitcoin seems so weak to me. Like the US dollar can withstand people scribbling on it but Bitcoin can't?

In fact, the idea of Bitcoin as a glorious digital monument with some graffiti scribbled on it represents humanity pretty well. That's kind of us in a nutshell. Seems on-brand. Perfectionists trying to keep their little gardens tidy while trolls come in and find ways to mess with them anyway.

NFTs and memecoins already had their peak fad moments. People now know that they're non-scarce gambling toys rather than investments. It's just echoes of that peak now. The only thing that concerned me about the ordinals/runes period was the rapid UTXO bloat, not the blockspace usage, since the latter already has a consensus limit on it.

And if Bitcoin transactions can't outprice JPEGs in the long run, then it's just not that valuable. Bitcoin currently does about 1% of the gross settlement volume of Fedwire. That's peanuts. Imagine if it reaches a point where it does even like 10% of Fedwire. What would you pay to move a full bitcoin globally, permissionlessly, in 10 minutes, in a world where it's no longer a niche thing?

Gucky 7mo ago

Me as a node runner (core version 27) invested in the hardware and my time to build and run it.

In the white paper I can not see any indication that other data than transactions. Whenever I can, I'll keep to this. I also don't like the idea that possible shitty data is stored on my ssd which makes me personally vulnerable.

I want to keep my house and garden clean as possible. And I repeat, treat the node runners well.

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Discussion

Tauri 7mo ago

That’s all good reasons to switch to Knots.

Lyn Alden 7mo ago

It gets in the timechain anyway because they fit within consensus. Node-level filtering only prevents types of spam that people aren't willing to pay for; not what they are willing to pay for (since they can go directly to miners).

So it's down to either proposing a consensus change that actually limits that stuff from getting in there, or it's mainly just performative.

Gucky 7mo ago

Yes, I know all about this. But I feel more and more reluctant of updating my core version, which is also not a good approach.

It is like being a security guy at the door. You do what you have to do in the according situation, but there are rules and frame work you have to apply and follow. The last option in this job is to quit, which would mean I would shut down my node.