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My main issue with Matrix aside from the performance issues is an indirect consequence of those. It's supposedly good at bridging protocols, but the IRC bridge requires having a bot kicking anyone who doesn't send a message for 30 days from the Matrix room so you can't lurk.
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If you run your own bridge, wouldn't you need to get approval to make a bunch of freenode connections? I could try to do it this way, but I'm not so sure about getting approval to have 5000 connections to freenode from a server of ours and keeping that working.
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