Bitcoin Core removing limits on the OP_RETURN size will be remembered as the end of Bitcoin as we know it. It will be the birth of a ethereumized version of Bitcoin. This will ultimately lead to centralization of node runners and the end to p2p money.
Discussion
For those use Core, yeah.
fuck. i hope not. i think many will just bail on core
We must signal to the core devs that we are not down with no limits!
My bitcoin ended when Segwit got actived
It's the contrary — keeping the limit risks centralisation. Read Gregory Maxwell posts on bitcointalk
https://bitcointalk.org/index.php?topic=5539943.msg65335891#msg65335891
His reasoning is wrong. An external fee market will develop among miners with spammers paying a premium over the mempool fee because it can't get relayed any other way. It could actually further decentralize mining because some small 1% miner could charge say a 1% premium vs say Foundry taking a 10% fee. Patient spammers will take it and wait a day for a block. Filtering this way will accelerate spammers running out of money. As with everything in bitcoin, sticking to your principles is the path to victory.
no it won’t
I'm curious to see where this all goes. Interesting times.
I'm not really sure it's like that. However, there is no doubt that they managed the communication badly and lost credibility 🤷♂️
The OP_RETURN limits and possible removal of OP_RETURN are what made Vatalik decide not to build ethereum on Bitcoin.
The fact the OP_RETURN was there was enough to spook Vatalik away from Bitcoin. It defended against the biggest spammer we’ve seen thus far.
A limitless OP_RETURN is a shitcoiner’s wet dream.
Say No to LOPP RETURN
🤦♂️🤔 true bro
My understanding is removing the limit incentivizes storing non-transactional data where it is unspendable (OP_RETURN which can be deleted) rather than within transactions (witness data which can be done either way and needs to remain forever).
A self imposed problem from spinning up ordinals, runes, brc20 tokens and inscriptions. These shitcoiners are acting like they have bitcoin hostage trying to force their stance and preferences on ALL core node runners.
There entire argument is that people can go to a miner and do these type of limitless OP_RETURN tx out of band so we should make it easier for everyone to do it by broadcasting these types of tx right to the mempool. But they also want to remove the option to set a limit.
Using there same logic one could say people can avoid the limitless OP_RETURN by running an older version of core or with knots. So we should remove OP_RETURN (set it to false) completely because “people can do that already”
Yeah I don’t understand removing the option altogether.
if they manage to fork the chain someone will make a bitcoin classic
i'll be sticking to the old chain, i somehow doubt that one type of new version of one of the clients will succeed in forking teh chain because that's what it'll take to get this to be accepted
They don’t need a fork because it’s a mempool policy change. I think there is a low probability of core adopting a limitless OP_RETURN but with Odell and his circle jerk crew down playing it I don’t know