Great read...
Bitcoin Has a Squatter Problem. BIP 110 Is the Eviction Notice.
Why a temporary soft fork is the most important thing happening in Bitcoin right now, and why the FUD about it is dead wrong.
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Great read...
Bitcoin Has a Squatter Problem. BIP 110 Is the Eviction Notice.
Why a temporary soft fork is the most important thing happening in Bitcoin right now, and why the FUD about it is dead wrong.
uteeexo is the most important thing happening in bitcoin right now.
Bip 110 is decoy marketing collateral to force core to bemd the knee when luke releases the files.
help luke-jr, test and run existing utreexo implementatios.
#1277724
"The rumors have been swirling about a secret knots code fork that actually fixes the utxo bloat, at least since Bitcoin Prague 2024."
that he may finally
#ReleaseTheFiles 🫵🏼🎄✖️╠!
UTreeXO fixes UTXO set bloat. But it doesn't fix blockchain bloat from inscriptions.
what is the difference between utxo set bloat and blockchain bloat?
There is no difference.
Which Luke knows perfectly well. Possibly better than anyone.
Time will tell...
Of course there is a difference. The UTXO set are all of the unspent outputs, which is used to verify new transactions against. The blockchain is the entire history of transactions up until now. If you want to run a full node, you have to store the entire blockchain. You don't however need to store the entire UTXO set with UTreeXO, only the outputs that you own.
Interesting perspective. The idea of calling it an “eviction notice” makes sense if you see block space as scarce property.
But how do we balance that with Bitcoin’s neutrality?
Where’s the line between protecting the protocol and restricting usage?
Bitcoin Block space is the SCARESEST and most DURABLE storage network on the planet.
A single HDD/SSD can store a 1MB jpeg for nano-pennies - but it is NOT durable, it will fail unexpectedly.
A raid-array can store a 1MB jpeg for ~$0.01 cent - but it is only single-host durable.
A network storage cluster (CEPH, Gluster, SAN) can store a 1MB for tens of pennies - but is only site/location durable (usually.)
Bitcoin is a Globally/Planet-wide durable storage device. This is a BIG deal, and the shitcoiners have figured it out. We are allowing grifters, like Citrea (Jameson Lopp, Peter Thiel, Eric Vorhees) to store 1->4MB of data onto 60,137 Full-Archive Bitcoin nodes for < $0.0229 per MB replicated! (Napkin math: 1MB*60.1k = $1372fee / ~60GB replicated) - this is planetarily durable!! All of us node runners, now and forever, then must now download, store, and keep in UTXO_Memory; all of this non-monetary bullshit. And we're doing it at OUR TIME and FINANCIAL BURDEN, this is also a barrier to entry for new node runners. [Block pricing reference: https://mempool.space/block/935967 , a stupid ogg/vorbis audio file ] PS: And fuck you Marathon for this block, publicly fiat-traded pieces of shit.
Rug the spammers. Rug Citrea. Rug Marathon. Rug Jameson Lopp, Eric Vorhees, Adam Back, and especially Peter Thiel. We've already voted Vitalk, Roger Ver, Craig Wright, and their ilk off the island. And each time Bitcoin became stronger.
Data storage was always considered an abuse of Bitcoin.
https://en.bitcoin.it/wiki/Spam_transactions
https://en.bitcoin.it/wiki/Weaknesses#Illegal_content_in_the_block_chain
https://gnusha.org/pi/bitcoindev/CAAS2fgSkiqfhJxHJNw8i8G5yd1XY6tUTDynQ+AekbwmHP_jZmw@mail.gmail.com/t/#u
Did you read the BIP?
Doesn't have to. He's a "Blockchain strategist" :)
Great information - I was not aware of this and hopefully it goes through and the spam on the blockchain stops.
who is this "free market" that everyone keeps talking about, and how does one make him decide?
let's add this to the list of thot-terminating clichés: https://primal.net/e/nevent1qqsvz4p92j2ldlyxsgss88stqdnrcgezmcy7jc22mnrcca7r0xvvm3guvq45c
Let the fee market work. Artificial constraints don't help the long term neutrality and development of use cases which are unknown today. Vote note on BIP110.