Joshatoshi #BIP-110

“Bitcoin Developer” almost sounds like an oxymoron to me. We should call them “Bitcoin Security Architects”. IMO the less developers we have in Bitcoin, the better. It means much less iatrogenic changes, and a harder, more secure and trusted protocol.

BIP-110 makes Bitcoin more like “digital gold” than at any time in its history. We should be celebrating this. Lightning as it exists today, gives us more than enough scalability than we need at this point in Bitcoin’s timeline. Bitcoin has to be a trusted “store of value” before it can become a widely used “medium of exchange”. We don’t have to solve all the world’s problems today, let’s just nail the first one.

@OSUFanBigTime Yeah, eventually. I’m just talking about the current reality.

@joshatoshi If bitcoin became the world’s currency. Then capital gains wouldn’t be an issue as people would spend and save bitcoin like they do dollars. If they invest bitcoin in equities then capital gains wouldn’t be no different than what it is now with equities

Why does everyone want to make Bitcoin the world’s computer? If it’s digital gold it should be extremely rudimentary. The only changes made should be to patch vulnerabilities.

@BitcoinJiuJitsu For Bitcoin to function as gold it doesn’t need any of these things. Although, BitVM + Covenants look promising to address some of Lightings limitations with scalability.

@joshatoshi All of these are either completely irrelevant, unstoppable, or even desirable.

@OSUFanBigTime Capital gains tax every time you spend Bitcoin since the government considers it like a stock or commodity and not a currency. It needs a “de minimis exception” at least.

@joshatoshi What’s the tax issues?

@OSUFanBigTime Let’s talk about that when we have the tax issues figured out.

@joshatoshi Do you want bitcoin to be the world’s currency?

@BitcoinJiuJitsu OP_CAT, EVM Layer 2s, Ordinals and Runes, Drivechains, Babylon, BitVM…

@joshatoshi Literally no one wants or is working towards this at all. There was maybe a time but no one serious or building is thinking in this way. Hang it up ⭐️

Japan just announced they will support naval operations in the Strait of Hormuz. Took them long enough.

BIP-110 makes Bitcoin the “fuck the banks” kind of money again.

@SimplestBTCBook Sauce?

@joshatoshi Link?

Core just released their roadmap for 2027:

@Pakkaustukku The source is “trust me bro”.

@joshatoshi What the fuck? Is this for real? Source?

@LynAldenContact @KenMCoin @natbrunell I encourage you to actually read the BIP. All of these questions and concerns were ironed out long ago: github.com/bitcoin/bips/b…

@HodlMagoo Buy the dip!

JUST IN : $NAKA hit another new all time low today now down 99.75%

Is this you?

Bitcoin has a spam problem. How we combat it is up to debate. I’m all for a temporary filter on spam using a data limit until we can craft a better, longer-term solution. How about using covenants so spammers are incentivized to use a Layer 2 rollup. Minting 10,000 JPEGs on Layer 1 might cost $50,000 in fees, but doing it on a covenant-secured Layer 2 costs pennies, while only sending a single, tiny cryptographic proof back to the main chain. This uses fee market incentives to price spam off the main chain. Instead of trying to play an impossible game of whack-a-mole - arguing over what counts as a "good" transaction versus "spam" - covenants let the free market handle it naturally. Thoughts?

It’s a “critical week” for the Clarity Act, says White House Crypto Council Executive Director Patrick Witt, as the crypto industry prepares to mark the one-year anniversary of the GENIUS Act becoming law.

@doomobserver @YouBuyBitcoin I shouldn’t give them any ideas.

@YouBuyBitcoin @joshatoshi Long term it might be the plan…

@w_s_bitcoin @AnHonestNode Both.

@joshatoshi @AnHonestNode I can’t tell if you’re making fun of knotzis or actually just being retarded.

If you love a default OP_RETURN of 100,000 bytes, just wait until Core changes it again to 1MB, 1GB, or removes the limit entirely. It’s only a matter of time really.

Adam, you’re an OG and thank for your contributions to the space from the very beginnings. You are right, Bitcoin should stay a neutral protocol and act just like the internet does when passing data. What I’d like to see is BitVM and OP_CAT passing sort of a math problem like a captcha to ZKPs so they can do a challenge-response to verify their data programmatically. This way any filter can be logic aware instead of content aware, thereby crowding out JPEGs and forcing them to pay even higher fees to spam the network meanwhile maintaining protocol neutrality. That seems like a good project for cyberpunk summer ☀️.

@DavidGardnerUK @joshatoshi it's the correct change, you just didn't do your research or understand it. if anything it does nothing, or if used reduces spam. learn more about the fundamentals, you've been misled.