Jonathan Galt

16.6K posts

Jonathan Galt

Jonathan Galt

@LarsonFarms

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Katılım Mart 2012
485 Takip Edilen325 Takipçiler
snootypigeon
snootypigeon@snootypigeon·
@Cryptotea And the fewer nodes, the less decentralized Bitcoin is. And that is a bad thing, for those people wondering. Run BIP-110.
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Crypto Tea
Crypto Tea@Cryptotea·
Satoshi warned that the more burden it is to run a node, the fewer nodes there will be the uploader pays the miner once, but the node operators carry the cost forever
Crypto Tea tweet media
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Jonathan Galt
Jonathan Galt@LarsonFarms·
@madenotgiven @Cryptotea My concern is always bandwidth not totally storage size. So therefore, as long a reasonable limits are in place (current 4mb), then no issues. But honestly, in a decade we should be at 8.
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Self Made
Self Made@madenotgiven·
2026 Typical consumer storage: 1-4 TB Estimated Bitcoin node storage cost: $100-$250 2036 Typical consumer storage: 10-30 TB Estimated Bitcoin node storage cost: $50-$150 2046 Typical consumer storage: 50-200 TB Estimated Bitcoin node storage cost: $30-$100 2056 Typical consumer storage: 200 TB-1 PB Estimated Bitcoin node storage cost: $20-$100 2066 Typical consumer storage: Potentially multiple PB Estimated Bitcoin node storage cost: Potentially under $100
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Jonathan Galt
Jonathan Galt@LarsonFarms·
@joshatoshi @Cryptotea Dude, the current chain is growing at roughly the same amount as always. It is less than 800gb. It is 2026, you can grab a 4tb HDD for 200 bucks and it will be future proof for a decade, or for longer than the drive lifespan likely.
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Joshatoshi #BIP-110
Joshatoshi #BIP-110@joshatoshi·
@Cryptotea Core apologists want to frame this like it’s just a spam issue. It’s all about data storage and node centralization. Bitcoin, not DropBox.
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Magoo PhD
Magoo PhD@HodlMagoo·
Me thinks the American casualties in the Iran conflict are not being reported.
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Adrian Morris
Adrian Morris@_Adrian·
Bitcoin | BIP-110: Bitcoiners, this is called a lie & unlike BIP-110 there is ample evidence to give us consensus on this fact.
Adrian Morris tweet media
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DAVE
DAVE@daviexbt·
We finished paying off our house years ago. No mortgage. No bank. No lender. Yet every year another property tax bill shows up. Miss enough payments, and the government can ultimately seize the home you’ve already paid for. That raises a simple question: Do you truly own something if you have to keep paying to stay in it? On top of that, nearly 30% of my income disappears to taxes, and everyday purchases keep getting taxed again through fuel, shopping, investments, and countless fees. At what point does paying for public services become paying forever? If you ask me, property tax has no place once a home is fully paid off.
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Jonathan Galt
Jonathan Galt@LarsonFarms·
@daviexbt County governments don't seize you home dip shit. They go to tax lien sales, and if bought, as free XX time, the private citizen can foreclose. However, in almost all states, you are entitled to any equity during a foreclosure sale beyond the lien.
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Les Nessman
Les Nessman@LesNessman1500·
@daviexbt Do you stop using public services when your house was paid off?
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Jonathan Galt
Jonathan Galt@LarsonFarms·
@daviexbt Why would he pay 73k in gain taxes? On a 530k sale? Less after comm. For a single person, you get 250k excluded. Married 500k. Unless he paid zero, he didn't likely pay any tax as single or married jointly.
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DAVE
DAVE@daviexbt·
A friend of mine that we grew up together in my hometown put his home on the market this year. Sale price: $520,000. Real estate commission: about $31,000. Taxes on the gain: roughly $72,000. Closing costs and other fees: another $14,000. After decades of mortgage payments, maintenance, repairs, and all the selling costs, the amount he actually walks away with is far less than most people imagine. The hardest part? Moving into a smaller home barely saves him anything because prices have climbed everywhere. Staying is expensive. Leaving is expensive. For many longtime homeowners, the house that was supposed to provide financial security now feels like a financial trap.
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ANTON, BIP 110
ANTON, BIP 110@Anton__BTC·
Turns out many Bitcoin OGs and influencers were in it to get rich quick. After 15 years, they are willing to sell their loyalty to the devil himself. So much about low time-preference. "Separating money from state" my ass.
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Jonathan Galt
Jonathan Galt@LarsonFarms·
@eric_seele A) Inflation is always a monetary base issue. B) We were talking about Obama, not 2020 and later. C) The bank of england grew the monetary base by 60% from q4 2019-2022. D) The global monetary base increased by about 25%, rapidly. E) Never trust Keysian 'scholars'
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Eric Seele
Eric Seele@eric_seele·
@LarsonFarms Other countries experienced inflation, including the UK, who saw the price of fish & chips go sharply up. And scholars of the highest caliber (e.g., a Nobel Prize winner) determined that primary causes of increased inflation were pandemic & Ukraine War. business.columbia.edu/sites/default/…
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Steve Rattner
Steve Rattner@SteveRattner·
Under Trump, U.S. federal debt has surpassed 100% of GDP for the first time since WWII. And it's on track to beat that all-time record by 2030.
Steve Rattner tweet media
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Amy Nixon
Amy Nixon@texasrunnerDFW·
Personal bankruptcy filings in the US are up 47% since 2022
Amy Nixon tweet media
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Donal #BIP-110
Donal #BIP-110@DonalDevine·
When you look into consensus.health, you will notice that 99% of the anti-bip110 side are "crypto" bros. 100% of the pro-bip110 side are bitcoiners.
Donal #BIP-110 tweet media
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Jonathan Galt
Jonathan Galt@LarsonFarms·
@dotkrueger Then there is no concern. May want to remove that bip110 from your name.
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Fred Krueger #BIP-110
Fred Krueger #BIP-110@dotkrueger·
There is no actual reason to use 100K bytes of OP_RETURN. none.
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Leonidas 🧡 $DOG
Leonidas 🧡 $DOG@LeonidasNFT·
I am very excited to announce the launch of a new open source Bitcoin client called Bitcoin $DOG Mode. Bitcoin Core and Bitcoin Knots have spent years enforcing rules that Bitcoin itself does not have. A transaction can be fully valid under consensus and still be blocked from normal relay because it is “non-standard”. This has resulted in the creation of a private “black market” for Bitcoin transactions where insiders with connections to miners get do things that ordinary Bitcoin users cannot. The $DOG Army has already gotten around this system twice. First we went directly to miners to execute the largest transaction in Bitcoin’s history because Bitcoin Core would not relay it. Then we did it again for the largest airdrop in Bitcoin’s history because of Core’s arbitrary 83-byte OP_RETURN limit. Around the same time, the Runes Protocol had grown so popular that memecoin activity accounted for the majority of transactions on the Bitcoin network. Many of these transactions also went directly to miners to bypass Core’s minimum relay fee. Core realized it had been outmaneuvered and in response they released Core v30 which removed the OP_RETURN limit and lowered the default minimum relay fee to 0.1 sat/vB. This revealed a clear pattern. The $DOG Army could route our “non-standard” transactions around Core, miners would accept them, and then Core was eventually forced to give in. The $DOG Army is done asking for permission. It is time to remove even more of these frivolous restrictions. That is why we are starting an open source initiative to develop our own Bitcoin client called $DOG Mode. When using Bitcoin in $DOG Mode: 1. The maximum standard transaction size will be increased from 400,000 WU to 3,900,000 WU. This will give everyone equal access to do “four meggers” while leaving a generous 100,000 WU of space for the coinbase transaction and block overhead. 2. The global dust limit will be lowered from 294-546 sats (depending on output type) to 1 sat. Ordinals inscriptions and Runes UTXOs are currently forced to carry hundreds of unnecessary sats to appease Bitcoin Core. This will remove the need for “padding” and effectively airdrop ~$25M in locked up sats back to the Ordinals and Runes ecosystem. Unlike Bitcoin Knots, which deviates significantly from Bitcoin Core and introduces substantial risk to node runners, Bitcoin $DOG Mode aims to only change the absolute minimum code necessary to remove these two restrictions. And unlike BIP-110, which attempts to change Bitcoin consensus through a network fork, $DOG Mode operates entirely within Bitcoin’s existing consensus rules and does not require a fork. This ensures that $DOG Mode can be successful from day one. Over time the economic incentives will drive $DOG Mode’s adoption and force Bitcoin Core to stop gatekeeping and allow these completely valid transactions. The result will be a more open, fair, and transparent Bitcoin network. If you are a Bitcoin developer who is interested in contributing to the initial $DOG Mode release, please reach out to me. If you are a Bitcoin miner who is interested in increasing your revenue by adding support for $DOG Mode transactions, please reach out to me. If you are a normal Bitcoin user who wants to support $DOG Mode quote post this with: “I will run Bitcoin in $DOG Mode”
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Jonathan Galt
Jonathan Galt@LarsonFarms·
@choeshow @united It is clearly in response to lots of people wanting to switch. It's called good customer service.
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Lilly
Lilly@JustaLillyBit·
What do all the Anti- BIP-110 people have in common? They own a company They have investors Most linked to Cantor Fitz and Tether (same thing) Fiat mindset
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Jonathan Galt
Jonathan Galt@LarsonFarms·
@DonalDevine Considering there are roughly 100,000 nodes private accessible and public, you have covered like 1% of them here. And many of the bip100 and against don't even run nodes.
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