Subnostr

I’ve always considered the possibility that Bitcoin could fail if its blockchain’s core use case (storing decentralized eternal immutable proofs of existence of data) fails to be in demand, since this service can only be paid for with bitcoins and constitutes the core systemic driver of Bitcoin demand. If ordinals continue to be in demand I think there’s overwhelming evidence that bitcoins will remain in demand for the foreseeable future.

RealJohnDoe 2y ago

#ordinals have to go. As do #nft's etc. Possibly all #inscriptions. Maybe even #TapRoot.

#Bitcoin is first and foremost a #savings technology. It's the most secure store of value in the World, and it has a #limited supply.

If people can do other things with it, without compromising the above in ANY! way. That's just icing on the cake. But totally irrelevant.

Bitcoin has very low transaction fees, and that's Not! negotiable. Bitcoin has light, tight, robust #fullnods. That almost anyone can run and manage if they want to. This is also Not! negotiable.

So you see the problem with your reasoning..⚖️👮‍♂️😐🗽

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Discussion

DissentWatch 2y ago

I don’t see the problem, you haven’t pointed out any flaws in what I actually said. The fact that you don’t like ordinals is not relevant to their adoption.

RealJohnDoe 2y ago

The fact that I don't like #ordinals is absolutely relevant to their adoption.

I'm an owner of #Bitcoin and a #fullnode operator. We are the ones that enforce the Bitcoin protocol, and decide what is and isn't allowed in the Bitcoin protocol.

Not miners. Not developers. Not special interest. Only owners and #fullnodes are incentivized to protect the global interest and value of the Bitcoin protocol.

And they are the only ones with the power. Individually and collectively. We've got all the machine guns. Otherwise, it's not Bitcoin, and you're not talking about Bitcoin..😆

That's how Satoshi designed it. Satoshi is kind of understated and uses terms like consensus. But it means the same as above..⚖️👮‍♂️🙂

DissentWatch 2y ago

But node operators are allowing ordinals on the blockchain, there’s no way to prevent them from happening.

RealJohnDoe 2y ago

Some #developers did that without our approval. They shouldn't have. We just haven't had time to stop it yet. But we're working on it.

We'll remove #inscriptions if we have to. Even #TapRoot if we have to.

As I said in the beginning. They won't be allowed to continue. The courts. The SEC, CFTC, FTC, FBI and cyber crimes divisions will address the criminal damages..⚖️👮‍♂️🤔

DissentWatch 2y ago

Bitcoin developers aren’t the ones making transactions. People use the Bitcoin blockchain and pay a price for it in Bitcoin. That’s it.

RealJohnDoe 2y ago

They are the ones that created the exploit and have failed to close it. The ones using and profiting from the exploit are liable too..⚖️👮‍♂️

DissentWatch 2y ago

Sending a transaction and paying the price miners ask for is not an exploit. Feature, not a bug.

RealJohnDoe 2y ago

It's an exploit. An attack vector. A back door. It's not a part of Bitcoin. Bitcoin is a virtuous savings technology. Not a scammy fees ripoff technology.

This fees scam is like the payday loans bullshit. Where they fuck the little guy up the ass. Coming and going. Bitcoin loves to slaughter those kind of fuckers..⚖️👮‍♂️😋