This is the way. Lift weights. Set a goal to get a six pack. Once you do, report back to let people know if you still feel the same way.
29: Every founder will hit zero many times. The ones who succeed will find a way to tap into their social capital to bounce and keep going.
The theory is that the witness data can be pruned after you download and verify it. This would reduce the space needed to store the full list of transactions.
This is the theory but I’m not sure there is much practical benefit.
Firstly, many nodes are probably already pruning out all the transactions they don’t care about which reduces storage space immensely.
Secondly, full nodes need to store that witness data so they can bootstrap new nodes.
Thirdly, between bandwidth and storage space, nodes are more likely bandwidth constrained. All that jpeg witness data needs to be downloaded and verified by every node.
Matt, what am I missing?
The thief giving you a percentage back of your stolen money and hoping you don’t realize how much they actually took.
Everyone wants Bitcoin to succeed and save us from the fiat hell. They just disagree on how.
I feel some discomfort saying this out loud in here. But I want to stand up beside my tribe to fight the dominant tribe that disagrees with us.
"Runes, Ordinals, L2s, transactions all create demand for the Bitcoin blockspace and we should welcome them instead of shunning them. "
If you can convince me otherwise, I am willing to join your tribe.
Our tribe: nostr:npub1aemj48k9pu7xvn8rtqaz84leuqmdfc6n7ydffvk3zyf3vhfaemvq6820rd nostr:npub1cf3zeytdnwgwzz5pk2ax0vvmmlzad03xcft4d50ejrfhsh8pxcdsefx7gk (add others)
I see it like this:
What is our purpose or objective?
We want bitcoin to be the world’s money because when the world adopts a hard money, there will be fewer wars, no inflation stealing people’s retirements, and more long-term thinking.
Yes, runes and ordinals create demand for block space, but does that help us further our goal?
What are the pros?
The extra money paid to miners does incentivize more investment in mining and increase the network hashrate. In theory this provides more security to the network.
What are the cons?
It seems these fees are encouraging mining pool centralization through back channel payments (“MEVil”).
Higher fees are preventing people around the world from using bitcoin as money. Transactions for lower value amounts will be delayed or won’t be feasible.
My conclusion
I view these “innovations” as a net negative because I don’t believe these new protocols increase bitcoin’s use as money and I don’t see the benefit to growing the hashrate artificially.
nostr:note1zxa87wv7c0g82xvaqmz6r36hhjs5x70qy5gg0mm6vmpmyggfe5ks0cwdv8
One of the crazy things I learned with the recent Israel - Palestinian debates was how the Israeli government funded Hamas.
Someone should do a skit with Netanyahu, sang to the tune of Shaggy’s “It wasn’t me”:
So you were propping up Hamas?
It wasn’t me!
Giving them a little money?
It wasn’t me?
Sneaking it out the back door?
It wasn’t me!
Hoping they’d do a little killing?
It wasn’t me!
You can be forced to sterilize your children. If you refuse, or talk to the press or speak up about it, you’ll go to prison.
I used to be really worried about stuff like this. Now I feel the pendulum swinging back a little and I have more hope that Americans will see through it.
They may not understand everything but they know these people just want to make them poorer.
Many institutions, including bitcoin custodians, rely on video as proof of identity.
😬 nostr:note1aerzcvsnunv3pf6wf6xcv86jhwyxn3j72jhnln9n9rd9ta0h25sq6xn7yu
I learned a lot from this debate.
https://www.zerohedge.com/geopolitical/zerohedge-debate-recap-will-us-be-pulled-war-iran
Yep, those people bought it without knowing what it is.
Yep, this is when bitcoin becomes a medium of exchange… when vendors will no longer sell goods and services for fiat currency.
Until then, most bitcoiners will prefer to spend their devaluing fiat currencies and hodl their bitcoin.
Very surreal to watch banks promote bitcoin.
If you have an iPhone, you can pinch the two top side buttons (vol up + lock) to force the device to only use pin. I believe this also dumps the keys from memory so the device harder to access.
I’m not sure why you say that. As one example, gold is currently a store of value and not a medium of exchange.
Bitcoin on L1 is clearly a better store of value. Why does that mean nothing?
Are you saying that L1 bitcoin would be worthless if it’s not a medium of exchange?
Why do you think this is happening?
It’s actually reassuring that so many people are bearish. Once that turns, maybe in the next few years, we’ll know we’re not early anymore.