BitcoinIsFuture -- 60d Bitcoin Freedom Money > arbitrary data storage shitcoin Ethereum 2.0 style replyBitcoin Freedom Money > arbitrary data storage shitcoin Ethereum 2.0 style
thread · root 96c2070c…1cea · depth 5 · · selected 2f078466…782a
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root 96c2070c…1cea · depth 5 · · selected 2f078466…782a
My comprehensive analysis of BIP-110:* Why it's reckless* Why it's irrational* Why it's doomed to fail* My predictions for what will happen* My recommendations for how to proceedhttps://blog.lopp.net/a-laymans-guide-to-bip-110/
Lets analyze Jameson [S]Lopp new article that is more like hit piece propaganda and misinformation typical forhis manipulative style of communication.At the end of the article he directly tells you that Bitcoin is not Money but:"Bitcoin is not simply money, it is programmable money, and that comes with the ability to design use cases somemay consider to be non-monetary in nature. I'm done arguing with folks who can't accept reality."That aligns with Citrea's view to turn Bitcoin into Ethereum 2.0 (link below [1])"We're hearing things like Citrea is better than Ethereum," Chainway Labs co-founder Orkun Mahir Kılıç toldCoinDesk. "It'll be better with time, because there's like $1 trillion, as of now, sitting in the Bitcoinblockchain. It is the most secure, battle-tested and decentralized blockchain. And we are bringing decentralizedfinance to it."In 1. Lopp tells you that there is "High risk of chain splits." but he fails to tell you that this is just oneof 4 scenarios. (links below [2])In 2. he struggles to find "edge cases" because BIP 110 "exempts pre-activation UTXOs" and "is a soft fork thatis forward-compatible" but he still tries his best to find a problem.In 3. contrary to what Lopp says, its spam and Citrea turning Bitcoin into Ethereum 2.0 that "Damages Bitcoin'sreputation.". Also here he omits the monetary part - "Bitcoin's strength lies in its censorship resistance". Itwould be correct to write 'Bitcoin's strength lies in its censorship resistance as money'. He adds now the term"programmable" to excuse the spam, jpegs, NFTs and DeFI - "permissionless programmable money".In 4. "Spam is already mitigated by the block size limit and open market for block space." which is of coursenot true.https://i.postimg.cc/dtFnSS6B/Renaud-Cuny-3.jpgIn 5. It is the compromised Core and their Core V30 that "Divides the ecosystem." Unfortunately Core bent theknee to spammers, scammers and shitcoiners like Citrea.In 6. Lopp outlines Citrea's technology - BitVM.In 7. Again misinformation - "Bitcoin being a neutral network". Bitcoin is neutral MONETARY network but Lopp andCitrea and the shitcoiners do not like that.In 8. Again misinfotmation - "By attempting to filter "bad" data". BIP 110 filters ALL large data that abusesBitcoin. BIP 110 is the most neutral solution that could exist. And then, based on his misinformation Lopp addsFUD "selective censorship". The truth is that BIP 110 reduces legal risk as large jpegs can't be added toBitcoin blockchain.In 9. See link [3]76GB of non-financial data added, stored by every node, forever36% of blockspace now consumed by spam (last 90 days)1% of miner revenue contributed35X surge in large OP_RETURN since April, before any code shippedIn 10. BIP 110 as temporary will give Bitcoin time to assess its effectiveness and if adjustments are neededthey can be made and after that made permanent to protect Bitcoin being Freedom Money.In 11. BIP 110's goal is to reduce spam and large arbitrary data and simulations with real data shows its doingit excellent See link [4]After that Lopp tries to threaten Ocean and call Bitcoin Knots node runners - cult.[1] https://finance.yahoo.com/news/bitcoin-zero-knowledge-rollup-citrea-173000226.html?guccounter=1[1] https://www.nobsbitcoin.com/citrea-raises-2-7m/[2] https://blockspaceweekly.substack.com/p/bip-110-the-miners-paradox[3] https://blockspaceweekly.substack.com/p/issue-3-three-years-of-spam[4] https://blockspaceweekly.substack.com/p/issue-8-bip-110-the-corrected-analysis
remember when Jameson Slop said “what are you going to do” at a btc conference? well, this is what we are gonnado MF
Yeah, it was obvious that Luke & Mechanic were gunning for a consensus change and I gave them the opportunity toadmit it but they pussed out.That line is going to age like a fine wine as Knotzis flail and fail. ☺️
Bitcoin Freedom Money > arbitrary data storage shitcoin Ethereum 2.0 style
Lets analyze Jameson [S]Lopp new article that is more like hit piece propaganda and misinformation typical for his manipulative style of communication.
At the end of the article he directly tells you that Bitcoin is not Money but:
"Bitcoin is not simply money, it is programmable money, and that comes with the ability to design use cases some may consider to be non-monetary in nature. I'm done arguing with folks who can't accept reality."
That aligns with Citrea's view to turn Bitcoin into Ethereum 2.0 (link below [1])
"We're hearing things like Citrea is better than Ethereum," Chainway Labs co-founder Orkun Mahir Kılıç told CoinDesk. "It'll be better with time, because there's like $1 trillion, as of now, sitting in the Bitcoin blockchain. It is the most secure, battle-tested and decentralized blockchain. And we are bringing decentralized finance to it."
In 1. Lopp tells you that there is "High risk of chain splits." but he fails to tell you that this is just one of 4 scenarios. (links below [2])
In 2. he struggles to find "edge cases" because BIP 110 "exempts pre-activation UTXOs" and "is a soft fork that is forward-compatible" but he still tries his best to find a problem.
In 3. contrary to what Lopp says, its spam and Citrea turning Bitcoin into Ethereum 2.0 that "Damages Bitcoin's reputation.". Also here he omits the monetary part - "Bitcoin's strength lies in its censorship resistance". It would be correct to write 'Bitcoin's strength lies in its censorship resistance as money'. He adds now the term "programmable" to excuse the spam, jpegs, NFTs and DeFI - "permissionless programmable money".
In 4. "Spam is already mitigated by the block size limit and open market for block space." which is of course not true.
https://i.postimg.cc/dtFnSS6B/Renaud-Cuny-3.jpg
In 5. It is the compromised Core and their Core V30 that "Divides the ecosystem." Unfortunately Core bent the knee to spammers, scammers and shitcoiners like Citrea.
In 6. Lopp outlines Citrea's technology - BitVM.
In 7. Again misinformation - "Bitcoin being a neutral network". Bitcoin is neutral MONETARY network but Lopp and Citrea and the shitcoiners do not like that.
In 8. Again misinfotmation - "By attempting to filter "bad" data". BIP 110 filters ALL large data that abuses Bitcoin. BIP 110 is the most neutral solution that could exist. And then, based on his misinformation Lopp adds FUD "selective censorship". The truth is that BIP 110 reduces legal risk as large jpegs can't be added to Bitcoin blockchain.
In 9. See link [3]
76GB of non-financial data added, stored by every node, forever
36% of blockspace now consumed by spam (last 90 days)
1% of miner revenue contributed
35X surge in large OP_RETURN since April, before any code shipped
In 10. BIP 110 as temporary will give Bitcoin time to assess its effectiveness and if adjustments are needed they can be made and after that made permanent to protect Bitcoin being Freedom Money.
In 11. BIP 110's goal is to reduce spam and large arbitrary data and simulations with real data shows its doing it excellent See link [4]
After that Lopp tries to threaten Ocean and call Bitcoin Knots node runners - cult.
[1] https://finance.yahoo.com/news/bitcoin-zero-knowledge-rollup-citrea-173000226.html?guccounter=1
[1] https://www.nobsbitcoin.com/citrea-raises-2-7m/
[2] https://blockspaceweekly.substack.com/p/bip-110-the-miners-paradox
[3] https://blockspaceweekly.substack.com/p/issue-3-three-years-of-spam
[4] https://blockspaceweekly.substack.com/p/issue-8-bip-110-the-corrected-analysis
04d26aee…2d0c -- 60d [parent] | reply [1 reply]remember when Jameson Slop said “what are you going to do” at a btc conference? well, this is what we are gonna do MF
Jameson Lopp -- 60d [parent] | reply [1 reply]Yeah, it was obvious that Luke & Mechanic were gunning for a consensus change and I gave them the opportunity to admit it but they pussed out. That line is going to age like a fine wine as Knotzis flail and fail. ☺️