Nostr Web Client

I don’t think it is such gloom and doom…bitcoin will be just fine. The jpegs have no inherent value and people will realize that. The size is capped to 4mb so there is that. I don’t like it but there is free market that will take care of it eventually. There was always a OP_RETURN that was available for “bad” things. Lets hope for the best of humanity and folks to realize that bitcoin blocks are for money.

⚡️🌱🌙 2y ago

I agree, not trying to cast doom and gloom at all.

The risk is low, maybe 1-5% ?

But we should always be open and objective about such risks because every once in a while these things do manifest.

For example, a villain could build a big short position on BTC, then upload a lot of child exploitation images, then alert the press that Bitcoin is filled with such material and suddenly every Bitcoiner is stigmatised, and every node can be seized by FBI.

There is now huge financial motivation for someone to do exactly this.

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Discussion

KP 🧡⚡️ 2y ago

Sure there is an attack vector like that. But Govts are already doing that in some countries and bitcoin is just fine. You can’t seize nodes that don’t exist (behind tor). Hence run your bitcoin and lightning infrastructure with utmost care.

⚡️🌱🌙 2y ago

But why?

It’s just compromising the adoption for a currency use case to accommodate a second use case.

Sometimes it’s better to just do one thing well. Especially when market penetration for the primary use case is still less than 1%.

Now we will have miners collecting fees for storage, and advocating design decisions for Bitcoin around that commercial reality.

I’m not trying to win an argument on this, just thinking out loud. Happy to be corrected or educated on this.

VarMur 2y ago

Appreciate your views.

To do just one thing well, the primary use case as "programmable" money, among other things.

If it is to be programmable, isn't it necessary for the chain to always permit the second use case - as storage?

Poppz 2y ago

maybe, to view the data stored on the blockchain you need a special browser, you just have to make it don´t show on the browser, like the ordinals site already did with some gay shit .

Lebanese Hodl 2y ago

Terrible scenario. Possibility exist but in my opinion it won’t happen for the same reason it didn’t happen on ETH or any other shitcoin chain. Incentives are pretty much non existant.