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Chris Monetary Maximalist Eleutheropraxeology
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Sapere Aude! Educate yourself, do not trust, verify and act accordingly. Most importantly understand the individual uneasiness. Question everything! Study Eleutherology, Praxeology and BitCoin Advanced Bitcoin Mantras (from Bitcoiners for Bitcoiners): Study BitCoin Not your seed, not your UXTOs Not your regular node, not your rules Not your miner, not your network Not your selected pool, not your defense

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Bitcoin doesn’t have a problem in the financial/economics level:

An analogy with gold:

sat UXTO -> oz XAU (ounce Gold) ✅

Capped supply and supply schedule ✅

Bitcoin Script* -> Gold transfer methods ⚠️

*Script: is too much flexible and exposed to exploits via e.g. arbitrary data insertion.

Target: diminish and eradicate Bitcoin non-mining nodes via prohibitively increasing equipment and/or operational cost. (Such an event already happened in the Bitcoin history, when the mining activity was de facto separated from the original Bitcoin client. The official separation occurred in version 0.13.0; released on August 23, 2016. The remotion reason: the mining feature was hopelessly inefficient and not practical to mine Bitcoin without recent specialized ASIC hardware.)

Goal: take control of Bitcoin network via centralization.

One more thing:

there was a fatal bug: Spend anyone’s coins (CVE-2010-5141) discovered on July 28, 2010, in version 0.3.4. That’s the origin of our topic with OP_RETURN.

The original functionality of OP_RETURN (design by Satoshi Nakamoto and existing in Bitcoin version 0.1.0) was as a return operation that ends execution of the script prematurely, with the topmost stack item presented as the execution result. However, this created an easily exploitable vulnerability that was quickly patched by Satoshi Nakamoto (via Hard-Fork). The functionality of the opcode was changed to always return false instead of returning the value on top of the stack. Later, in Bitcoin Core's v0.9.0 update, the OP_RETURN output script was made into a standard output type, allowing users to append data to unspendable transaction

outputs; nowadays until 80 bytes.

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Bitcoin doesn’t have a problem in the financial/economics level:

An analogy with gold:

sat UXTO -> oz XAU (ounce Gold) ✅

Capped supply and supply schedule ✅

Bitcoin Script* -> Gold transfer methods ⚠️

*Script: is too much flexible and exposed to exploits via e.g. arbitrary data insertion.

Target: diminish and eradicate Bitcoin non-mining nodes via prohibitively increasing equipment and/or operational cost. (Such an event already happened in the Bitcoin history, when the mining activity was de facto separated from the original Bitcoin client. The official separation occurred in version 0.13.0; released on August 23, 2016. The remotion reason: the mining feature was hopelessly inefficient and not practical to mine Bitcoin without recent specialized ASIC hardware.)

Goal: take control of Bitcoin network via centralization.

One more thing:

there was a fatal bug: Spend anyone’s coins (CVE-2010-5141) discovered on July 28, 2010, in version 0.3.4. That’s the origin of our topic with OP_RETURN.

The original functionality of OP_RETURN (design by Satoshi Nakamoto and existing in Bitcoin version 0.1.0) was as a return operation that ends execution of the script prematurely, with the topmost stack item presented as the execution result. However, this created an easily exploitable vulnerability that was quickly patched by Satoshi Nakamoto (via Hard-Fork). The functionality of the opcode was changed to always return false instead of returning the value on top of the stack. Later, in Bitcoin Core's v0.9.0 update, the OP_RETURN output script was made into a standard output type, allowing users to append data to unspendable transaction

outputs; nowadays until 80 bytes.

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Interesting to listen 🎧

Proposed changes to Bitcoin Core default relay policy (28:04)

• RBF, OP_RETURN

Bitcoin doesn’t have a problem in the financial/economics level:

An analogy with gold:

sat UXTO -> oz XAU (ounce Gold) ✅

Capped supply and supply schedule ✅

Bitcoin Script* -> Gold transfer methods ⚠️

*Script: is too much flexible and exposed to exploits via e.g. arbitrary data insertion.

Target: diminish and eradicate Bitcoin non-mining nodes via prohibitively increasing equipment and/or operational cost. (Such an event already happened in the Bitcoin history, when the mining activity was de facto separated from the original Bitcoin client. The official separation occurred in version 0.13.0; released on August 23, 2016. The remotion reason: the mining feature was hopelessly inefficient and not practical to mine Bitcoin without recent specialized ASIC hardware.)

Goal: take control of Bitcoin network via centralization.

One more thing:

there was a fatal bug: Spend anyone’s coins (CVE-2010-5141) discovered on July 28, 2010, in version 0.3.4. That’s the origin of our topic with OP_RETURN.

The original functionality of OP_RETURN (design by Satoshi Nakamoto and existing in Bitcoin version 0.1.0) was as a return operation that ends execution of the script prematurely, with the topmost stack item presented as the execution result. However, this created an easily exploitable vulnerability that was quickly patched by Satoshi Nakamoto (via Hard-Fork). The functionality of the opcode was changed to always return false instead of returning the value on top of the stack. Later, in Bitcoin Core's v0.9.0 update, the OP_RETURN output script was made into a standard output type, allowing users to append data to unspendable transaction

outputs; nowadays until 80 bytes.