110 sats \ 4 replies \ @joda 18 Feb \ on: Prediction: Bitcoin Magazine won't survive promoting Ordinals and inscriptions bitcoin
Bitcoin Magazine (you should call them "BM" if you hate them so much) is certainly a mixed bag. They are a magazine though-- not the Atlantic or SciAm, sure, but also not exactly a tabloid. They have the occasional redeeming article. I think of them like the "High Times" of Bitcoin.
"fact that inscriptions are spam transactions and an attack on bitcoin"
I have difficulty understanding this position. Transactions are not spam if they are paid for. They don't lack value if someone values them. And if they constitute any sort of "threat" to Bitcoin, then Bitcoin is already defeated.
Moreover, a strong opinion is not a "fact".
Your reasoning is flawed. Bitcoin has spam filters already. They just need to be updated. Since when did a threat equate to defeat? Bitcoin’s history is full of threats and we overcame them. Maybe study up on bitcoin, how it works and it’s history so you’re not spreading fud
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Good point about spam filters.
The word "attack" was used. "Spreading FUD" is not the same as having legitimate critique. But I'm actually doing the opposite of FUD-- I'm saying that Bitcoin is not threatened, and people reading this do not need to be afraid or doubtful.
Yes there have been attacks and vulnerabilities in the past, but in this case the "attack" is making Bitcoin stronger by paying for transactions, and if it creates a secondary market dependent on Bitcoin, then it also increases the value of the Bitcoin network. It is a foot shot for the attackers, except that they make money off it.
I admit, I may be wrong. Maybe this is devastating and without dramatic intervention Bitcoin will crumble.
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Here's a video of one of the spammers admitting to spamming the Bitcoin blockchain and telling you exactly how they're doing it --> https://twitter.com/LibertyLuminary/status/1753293110010900733
There are many more. It's not an opinion, it's a fact. Do your own research.