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Kyle Torpey
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#Bitcoin research and analysis | As seen in Forbes Fortune Bloomberg WIRED BitcoinMagazine

MINERS HAVE BECOME LESS ACTIVE IN TECHNICAL BITCOIN DISCUSSIONS

These days, there tends to be a wall between the mining, development, and other sectors of the greater Bitcoin network, almost as if they operate in completely different industries.

This was a view shared by Blockspace Media’s Colin Harper and Charlie Spears in an episode of Bitcoin Season 2 that was recorded at the North American Blockchain Summit in Texas earlier this month.

According to the duo, 30% of the network hashrate was at the event, and no one had been discussing the recent release of Bitcoin Core v30, which included a policy change that is at the heart of the “spam” controversy.

“Bitcoin has become incredibly siloed, and it’s very hard to be a subject matter expert in all of these different siloes,” said Harper. “And miners are mostly worried about making money.”

Spears added that most BTC miners would probably not know what version of Bitcoin Core their mining pool runs.

“They’re not thinking about it,” said Harper.

To this point, many miners and mining pools who Protos reached out to for this article appeared uninterested in commenting on the controversies around “spam” and “illegal content” on Bitcoin.

Some respondents indicated they weren’t the right entity to comment on potential soft forks related to spam, while others stated that they simply did not want to get involved with the drama.

Earlier this month, LayerTwo Labs CEO Paul Sztorc also claimed that Foundry, which operates the largest BTC mining pool on the network, plans to never have any opinion about anything going forward due to a previous controversy related to Ordinals Inscriptions.

“I think miners have mostly cared about one thing: the Bitcoin price,” said Sztorc when reached by Protos for comment.

“Secondly, they have learned that if they get involved, people will be upset.”

This is an excerpt from a new article on how miners are thinking about the "spam" controversy and the recent associated soft fork proposal. Read the full article over at Protos: https://protos.com/bitcoin-mining-industry-mostly-uninterested-in-spam-controversy/

Is there a way to view Nostr posts that are popular among people you follow?

Started using this feed that shows popular posts made by people I follow, but I’d rather see a feed influenced by people I’ve chosen to follow (trust).

Is that possible on Nostr? Web of Trust-based social media algorithms seem like the best.

In 2018, Bitcoin maximalism was truly punk rock

All about sticking it to the man, telling nation states and VCs that they can’t invent a better Bitcoin

We have this immaculately conceived money network and we’re gonna turn it into the default currency of the internet

The cool features from altcoins? We’ll take them and make them work with the 21 million BTC. Your experiments can’t hold value and there’s nothing you can do about it

The forks? You can make 1000 of them and most of us will stick with the original chain, with the largest amount of Proof of Work!

But somewhere along the line, the movement got diluted and lost its meaning or legitimacy.

The big influencers sold out and now they’re wearing suits to talk to the bankers, heads of state, and the VCs they used to pretend to hate.

The educators focus on propaganda and go as far as telling their students to invest in bitcoin reserve companies – a far cry from the “not your keys, not your coins culture”, but a safe proxy for the culturally taboo “shitcoining”.

The Lightning network, which was supposed to be the scaling solution that enables the medium of exchange function, took too long to build and still doesn’t live up to the hype or expectations. Low volume, a diminishing number of user nodes, a reliance on central services and custodians made it “efficient” but ultimately pointless. If you’re gonna have trust, might as well reinvent banking.

We never got the sidechains we were promised. Blockstream delivered a federation, and drivechains were always discouraged by the devs. In theory, Bitcoin could have every altcoin’s features on dedicated sidechains that offer scaling, privacy & contracts. In practice, every time we came close to activating something significant we ended up not taking any action.

The community, which used to be smart and well read, became a lazy cult which worships a select clique of people while reciting the “don’t trust, verify” mantra. The only upgrades came from Blockstream and the same handful of devs. Stuff like CTV and CAT was regarded with skepticism because the builders didn’t pass all the purity test – the arguments against activation were never about the quality of code.

The same people who used to tell politicians and Silicon Valley investors to go fuck themselves are now celebrating when Microstrategy, Black Rock and the Trump family acquire amounts of bitcoin.

Talks about ossification are more serious than ever, with folks who act as if Bitcoin is perfect and will never need any more improvements.

It’s a depressing landscape, really. But the silver lining is that the shitcoins, that around 2017 were mostly modified forks of Bitcoin, have gotten incredibly good and not all of them are scams.

Today, shitcoining is the new Bitcoin maximalism. Because in principle, even though you admit defeat in regards to the 21 million coins for the entire world utopia, you go back to sticking it to the man and supporting subversive tech.

In the end, it all comes down to the question “why are you here?”. If you want to change the world, you won’t accomplish it with Bitcoin in its current state. It needs privacy, scaling, contracts & quantum resistance. It will probably only get the latter two, while the former will happen on suboptimal layers.

The good news is that Ethereum, Zcash, Monero, Litecoin, and a dozen others are still keeping the spirit alive. They still experiment with new tech, they push the limits of existing assumptions, and they make cypherpunk literature come to life.

Shitcoins are the new Bitcoin.

Shitcoining is the new Bitcoin maximalism.

The sooner you realize it, the quicker you will adapt to this paradigm.

The situation with Ethereum seems objectively worse. They literally just built tech for the U.S. dollar and for crypto people to use to reinvent the existing financial system with them in power instead of traditional banks.

Monero is the most legitimate altcoin to ever exist, I agree there. I still think it gets replaced by better privacy on Bitcoin though.

I’ve seen many decentralized or alternative social media networks pop up over the past decade or more, but Nostr is the only one that has had this level of staying power.

I still mostly use X, but it’s impressive how many people are still clearly using this network after a year or two. Nostr has staying power.

Seems like it would be better if fees were rising due to monetary adoption rather than spam. Prevalence of spam seems like an indication of lack of adoption more than anything else, unfortunately.

Well, one lawyer out of seven who also said it’s basically Ocean vs the rest of the bar.

“Admitted” is also weird phrasing here.

14% is probably high, as even that one individual admitted it is basically Ocean vs the rest of the bar.

Also, it isn’t a change to Bitcoin’s protocol rules. It is a node-level policy.

I asked 7 lawyers for their thoughts on Knots/Ocean's claims regarding Bitcoin Core v30 creating potential legal issues for node operators.

6 out of 7 don't see it as a practical threat.

See the full article and all of the comments from Bitcoin lawyers at Protos: https://protos.com/exclusive-lawyers-call-bitcoin-core-v30-csam-concerns-overblown/

📈 What to Expect From Bitcoin & Crypto in H2 2025

Will one of the tech giants establish a bitcoin position?

Is ETH at a make-or-break moment?

Which new crypto ETFs will get approved?

👇Here's a summary of what I wrote for Investopedia:

1️⃣ Bitcoin Treasury Companies Go Mainstream?

• Businesses holding bitcoin as a reserve asset are booming — from the originator Strategy (formerly MicroStrategy) to newcomers like Nakamoto.

• According to nostr:npub1dszyapecferpazhd75tgg7jcqgqn6ktexjs5cagfmgntfx3pf5eszwv7hq, there are now an estimated 135 public companies holding bitcoin.

• “The question of whether to acquire bitcoin is quickly going from if to when,” says nostr:npub1vqn39nsujc5eye9v7a6yf75l9n50y9ywr3dwx7m7jgkaea4mdrdsnsjngw of Castle.

• Cole expects a large household name to announce a bitcoin position before the end of the year.

2️⃣ Ethereum's Make-or-Break Moment?

• Some fear bitcoin’s dominance + ETFs + treasuries make altcoins obsolete, with bitcoin treasury companies potentially taking the role altcoins played in previous cycles.

• But there are some potential drivers of a trend reversal for ETH: stablecoins, institutional interest in tokenized RWAs, staking in ETFs, and regulatory clarity.

• “If the current developments play out as expected, there’s meaningful room for a catch-up,” says FalconX's David Lawant

3️⃣ More Crypto ETFs & IPOs

• Spot ETFs for BTC & ETH already exist and ETFs for more crypto assets are on the way, with features like staking & in-kind redemptions also in the works.

• Circle’s IPO succeeded, and others (Gemini, Kraken, Ripple, Consensys?) could follow soon

• Bloomberg’s James Seyffart: “We will see the vast majority, if not all, of the currently filed ETFs approved by year-end.”

Read the full story over at Investopedia: https://www.investopedia.com/what-to-expect-bitcoin-crypto-markets-second-half-2025-11762236

Make yourself a favor and listen to bitcoiners.

⚡ Wrote up coverage of nostr:npub1trr5r2nrpsk6xkjk5a7p6pfcryyt6yzsflwjmz6r7uj7lfkjxxtq78hdpu and Paul Sztorc's debate on Lightning for Protos.

In many ways they appeared to be talking past each other but they ended up finding more common ground around how Lightning will interact with various Bitcoin layers over the long term.

Alex is more excited about how Lightning is already helping scale Bitcoin today, while Paul sees potential issues arising over the long term.

🔑 QUOTES:

“The federated model is just about the worst thing to happen in Bitcoin’s history.” – Sztorc

“I thought Lightning was for end users. I changed my mind.” – Gladstein

Read my full, in-depth thoughts and coverage here: https://protos.com/sztorc-vs-gladstein-can-lightning-scale-bitcoin/

What’s the easiest/best way to post on here and X at the same time or just mirror X posts here?

It doesn’t rely on it. Merchants can use their own nodes if they want. This helps bitcoin based consumers have more places to spend either way.