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Bitcoin Isn't About You
@brian_trollz
bring down the government, they don't speak for us A.K.A. = shinobius monk beep/bop/boop
C-137petertodd.org/2016/mit-chain…Joined April 2016

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Its essentially a hash lock. You literally can't spend the coin without revealing the inscription data.
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I heard an argument the other night that inscriptions trick bitcoin because witnesses should only have signatures or signature-like things (hashlocks, timelocks). But the datapushes in an inscription are committed to by the root of the taptree. Inscription data IS a hash preimage
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While dumbasses cry about jpegs:
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“If the decentralized governance of bitcoin really is a myth…” Possibly worthwhile to consider steps to ensure, increase and prove this decentralization. Perhaps rotating maintainership duty nominated/decided by contributors and more strictly limited to a janitorial role.
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Holy fucking shit, its like everyone in this space has all simultaneously hit their heads with a fucking rock and forgot the last ten years of discussions, tradeoffs they illuminated, and the decisions made in the aftermath of that. What the actual fuck is wrong with you all?
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One of those thoughts that just pops in your head trying to sleep: why does no streaming service directly poll users over opinion of possible show cancelations?
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This is how the reality of transcriptions work economically. Being scared of this pricing out use of Bitcoin to transact is ludicrous.
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Replying to @timpastoor
And tldr of economics of silly transcriptions: my 10 cent fee to spend money 10xing is 1$. A 2000$ transcription TX fee 10xing is 20,000$. One is much more resilient to fee pressure than the other.
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Not much to debate… the bickering is pointless. No one needs permission to make inscriptions. So your are left with 3 choices:
When you make a selection it cannot be changed
2,774 votes4 days left
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Just realized you could save a lot of space/cost just storing signatures, xpubs, and a deterministic policy to reconstruct the transactions the signatures apply to.
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People shrieking about ordinals and taproot witness data. Is it still bad if I can actually use it to help secure my money and make vault schemes robust against the loss of pre-signed transactions? twitter.com/brian_trollz/s…
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If I hear one more idiot ask "what if someone puts a bad picture in the blockchain." You have ALWAYS been able to put random data and pictures on the blockchain. You literally cannot stop it.
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No, the witness discount was not a "fuck up" that didn't think about "real resource consumption." It was very deliberately and intentionally done to correct a very bad incentive misalignment that would have been a huge burden on validating nodes in the long term.
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If my early morning napkin math is correct, this idiots plan is to spend 7.5 BTC at 1 sat/vbyte, so 172,500$, to put a video on the blockchain, that in the process is still capped per block by the blocksize. This is the type of stupid shit people are freaking out about.
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Might stick a 3GB video on BTC and concatenate it into 6000x 500KB chunks. Let's see if any non-mining RasPi home nodes can stop me...
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What could this space be discussing right now... 1) APO and the trade offs it presents to get massive efficiency gains for Lightning and other second layer protocols. 2) Covenants and how flexible they can be without being dangerous for the same gains. 3) Cry about jpegs.
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Bitcoin will be used for plenty of non-monetary things. You cannot stop it. There is no problem with that beyond how things are implemented, IF the way they are implemented has negative effects on system incentives.
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That type of framing does absolutely nothing to facilitate conversation. It just breeds swarms of people who don't fully understand what they're talking about blindly repeating inaccurate hyperbolic nonsense. It just amplifies noise.
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