BrightSats

The future is unwritten - Joe Strummer #Bitcoin #npub166655a9edwggtj2lp963edhmem6py9ufz7sa4vgaw8qqtl0tsv9qdkmqp7

[Jim @elkrun21]

Use bitcoin (money - lower case b) for whatever and however you want.

Use Bitcoin (the network - upper case B) solely for sound money (aka bitcoin).

Using Bitcoin for anything other than bitcoin diminishes the value of bitcoin.

[Softfork Mechanic #BIP-110 @GrassFedBitcoin]

All you need to consider with regard to BIP-110:

Will its enforcement reach credible levels of decentralization?

Miners are almost completely, irrelevant. They can speed it up if they want. That's it. If they start signalling for it, great, but they can inter-coordinate among themselves for a fork the network *doesn't* want too and that doesn't mean we would have to accept it.

Decentralized enforcement sits above proof of work.

Without the former, the latter is pointless.

Miners aren't going to burn millions in electricity trying to meet arbitrary criteria like network difficulty without a good reason.

To anyone who thinks miners control Bitcoin's rules due to the mistaken belief that proof of work belongs at the top of the hierarchy - I ask....

To whom are you proving you have done work?

Why when one of your proofs made it to 99% of the target difficulty did you agree to throw your block in the trash?

Why do you limit yourself to 3.125 newly generated coins in the blocks you create?

Why aren't you putting all the world's unconfirmed TXs into your block template? Why limit its size at all?

The answer to all these points to the same inescapable fact: Miners are employees of the network.

If the network makes new rules, miners comply with those rules, just as they do with the rules enforced today.

Again, Greg absolutely knocked it out of the park with the term 'decentralized authoritarianism' - a game, an entire economic foundation in fact, where rules actually mean something. Because they're enforced by voluntary participants, not corrupt bureaucrats.

Bitcoin is authoritarian.

Turns out that's not what I ever had a problem with. It's centralization that's inherently corrupt. Rules are fine, and actually the only way to play a fair game is one where the rules are reliably enforced.

But there are still a few who think if Bitcoin were to have tighter rules that Bitmain have to agree to it.

Go think a while on how this all works.

[BrightSats @BrightSats]

@craigraw @Apple Phew

[Craig Raw 🐦 @craigraw]

My attempt to protect users from scam apps on the @AppStore has gotten my Apple Developer account flagged for termination - ironically, for "dishonest activity".

Unless it's reversed by June 30, all new installs of Sparrow Wallet will fail, and development on macOS will end.

The context: since 2023, more than a dozen fake "Sparrow" apps have appeared on the App Store, as recently as April this year. Users have contacted me after losing their savings, in some cases their life savings, to these impersonators.

I'm the developer of the real Sparrow Wallet, a desktop app, and I hold the registered US trademarks for the name and logo. I have publicly warned @Apple and the community about these fake apps from early 2024, but they keep appearing.

The app @Apple flagged was a placeholder that was never published. Its only purpose was to warn users that Sparrow is desktop-only and that other "Sparrow" apps aren't mine. This approach may have been misguided, but there was nothing dishonest about it.

I'm confident this is an automated misclassification that Apple would reverse on review - but I may be terminated before a human ever looks at my appeal. The cost would fall on @Apple's own users: blocked installs and no updates for a tool people rely on, which opens the door for more fakes.

If you value Sparrow, a repost would help. @AppleSupport

[BrightSats @BrightSats]

@Jethroe111 🫡

[BrightSats @BrightSats]

🤡 just sleep easy pleb

[BitMEX Research @BitMEXResearch]

> A big chunk of bitcoiners would rather fight each other than channel their efforts to advocating for bitcoin

It is important to recognise when Bitcoin is under attack and defend Bitcoin. In 2016, Bitcoin was under attack from the "large blockers", winning that battle was important. Perhaps more important than wider advocacy at that point in time, which could come later. Had BIP-101 (the large blocker proposal) activated, the blocksize limit today would have been 312 MB. That means up to 312 MB of stupid image spam and NFTs per block. Users would therefore not be able to run nodes and Bitcoin would have failed. Winning that battle was necessary. And yes, that did mean sometimes people came accross as "rude" or "toxic", rather than presenting a nice happy image, which could have helped with wider advocacy. But that fight was absolutely necessary.

Fortuntely the battle against the spammers was won in 2017. We have a reasonable blocksize limit in place and we can sleep easy, knowing Bitcoin is safe from spam images and perhaps focus more on advocacy.

At the same time, today, BIP-110 is another attack on Bitcoin. Attempting to change the protocol rules on block validity, without consensus, can be an attack. Recognising this is an important part of understanding Bitcoin. In the case of BIP-110 it is pretty clear, many BIP-110 advocates want to change Bitcoin's protocol rules as a way of "hitting spammers in the nose". This makes it obvious that BIP-110 is an attack on Bitcoin. BIP-110 does all kinds of outragoues things, like banning sends to P2PK outputs (That Satoshi used) and it messes up people's inheritance plans if they use OP_IF in Tapscript. This will freeze user funds. I have spoken to people with Bitcoin in these contracts that will lose their Bitcoin if BIP-110 activates! BIP-110 is a horrendous attack. If not enough people recognise attacks and step up to defend Bitcoin, Bitcoin will fail. Yes it can be ugly, but it is necessary. Just like the fight against BIP-101 was.

Many people may legitimtely conclude that BIP-110 is not a significant attack and therefore not worth defending against. That may be the case. However, vigilence against threats its important.

[Matthew R. Kratter #BIP-110 @mattkratter]

@Beachii2 Calling out scams and scammers that are a threat to Bitcoin is how Bitcoin's immune system works. It's not some problem with my emotional state or "negativity." Bitcoin is in a really bad place right now

[BrightSats @BrightSats]

@JoeNakamoto It might look ugly, but fighting against an attempt to co-opt Bitcoin is necessary imo

[BrightSats @BrightSats]

@gladstein @hodlonaut Seems to me that’s exactly what has been attempted via core

[hodlonaut #BIP-110 @hodlonaut]

Bitcoin’s most crucial property is being decentralized.

That is not compatible with being governed by a deceitful and arrogant priesthood of funders and developers who censor and exclude opposition while pretending to be responsible stewards of the Bitcoin ethos.

[BrightSats @BrightSats]

Farrington brilliantly re applying the sly roundabout way. Hire him already.

[allen farrington @allenf32]

https://t.co/WPZJUGfkn6

[BrightSats @BrightSats]

@alanbwt 💪

[BrightSats @BrightSats]

A massive sign that you should not listen to anything someone says about economics: “stubborn inflation”

[BrightSats @BrightSats]

@GrassFedBitcoin @ModernApocrypha @HodlingJ @w_s_bitcoin @MrHodl If BIP 110 succeeds, it will have done so in the correct way - via grassroots, node runner support. Any future attempts will have to follow the same path, so they will need to be truly accepted in the same way.

[hodlonaut #BIP-110 @hodlonaut]

Pests don’t like pest control

[Simon Dixon @SimonDixonTwitt]

For those building a long-term self-custody Bitcoin position through dollar-cost averaging, this gets you more Bitcoin for the same amount of fiat.

Value your wealth in the amount of Bitcoin and Gold you accumulate if you want to see through the optical illusion of fiat currency.

A reminder: the financial industrial complex wants your Bitcoin in their custody, a loan against it, and your attention focused on gambling with ETFs, $MSTR, $STRC and perpetuals.

Self-custody your Bitcoin.

Run a node.

Have a ten year plan, rather than a ten minute plan.

Do the opposite of what they want you to do.

[BrightSats @BrightSats]

@chrismartenson you're either being disingenuous or you haven't done enough homework

[Eric V Stacks @EricVStacks]

I just released a 4 hour rip with @mattkratter on my new YouTube channel.

https://t.co/BaScahX4Ex

Matt covers a lot of ground in this one. Check it out and subscribe!

[BrightSats @BrightSats]

👏

[Glenn Greenwald @ggreenwald]

(As several people have pointed out, correctly: Bessent said they stole about $1 billion in crypto, not bitcoin. I'm deleting the tweet so it doesn't spread with that error).

[Matthew R. Kratter #BIP-110 @mattkratter]

Do Bitcoin Core Devs Lock Their Doors At Night?