Max

Nostr: npub1w4hx7dykxxz2430xh6twgzmht8gp3alczzpp96xfkj0wtl7tag0qn9ztxu

[Alexander Leishman 🇺🇸 @Leishman]

At @River we will continue to run Bitcoin Core because it is the only properly maintained Bitcoin node software. The Bitcoin Core dev team is highly competent and dedicated to the long-term success of the network. The current state of the debate around OP_RETURN relay rules is the result of overdramatizing a nuanced technical decision regarding tx standardness rules. Running poorly maintained forks of Bitcoin (with their own large flaws) because of this minor technical debate is an overreaction IMO.

No Bitcoin Core dev wants the blockchain spammed with data because they are the ones forced to deal with the scaling issues and edge cases that follow. However, the reality today is that consensus rules allow transactions with large amounts of data in OP_RETURN, regardless of mempool policy! So, the broader debate here is twofold:

1. People want to put data onchain and they will do so with or without OP_RETURN limits. There is nothing stopping these people from skipping the mempool and submitting nonstandard txs directly to a mining pool today, or using even uglier approaches that bloat the UTXO set (even worse for the network). If we want to actually “fix” this, we would need a consensus fork, not a mempool rule change. The decision to change the standardness rules to allow these txs to be relayed seems reasonable and not a big deal.

2. The divergence between standardness rules and consensus rules: There are many transactions one could make that are valid by consensus rules that cannot be broadcast to the network today because they are “nonstandard”. This does not stop a miner from including the transactions in a block. High divergence between standardness rules and consensus rules leads to complexity in the Bitcoin Core software and causes problems for block relay efficiency when people start sending non-standard transactions direct to miners. Starting to move away from this divergence seems reasonable, but needs to be done carefully. We can likely never fully delete standardness rules but I understand the goal to reduce complexity here.

This debate should remain objective and technical. It’s being blown way out of proportion. Remember, the vast majority of Bitcoin Core devs deeply care about the long-term health of Bitcoin and have dedicated their careers to getting Bitcoin where it is today.

[pourteaux ⋆ ˚｡⋆ @pourteaux]

@SpeakerJohnson “Art of the Deal”

[John Insprucker @jinsprucker]

Hold my beer :-)

[Max @max3dwards]

Analyzing Bitcoin Consensus: Risks in Protocol Upgrades: https://t.co/Ja5KwzxssC

[Max @max3dwards]

@josibake Nice one @josibake ! Will be following.

[Bitcoin Core Project @bitcoincoreorg]

Bitcoin Core v28.0 was released!
It is available from: https://t.co/WpMuMaeRoz
Release Notes: https://t.co/Fn6vRZsir8

[sara “THE RED SACRAMENT” hinkley @boneysoups]

no disrespect to this beautiful cat. but she did not paint this

[Max @max3dwards]

@murchandamus @hhebasto Well said @murchandamus

[Murch @murchandamus]

Could you please not conflate the transphobia in your self-selected personal bubble with “Bitcoin’s ethos”?
Just because we share Bitcoin as an interest doesn’t mean that we share other worldviews.

[Cøbra @CobraBitcoin]

Bitcoin Core Version 27.0 is now available for download at https://t.co/PJDyyrcBFb.

The block on UK users downloading it is also now removed. For those that didn't know, it previously wasn't possible to download Bitcoin Core from the UK because of litigation. A good day. 🎉

[Hennadii Stepanov @hhebasto]

Excited to announce progress on migrating Bitcoin Core's build system from Autotools to CMake! 🚀 Staging branch is packed with almost all features and primed for extensive testing. Big strides ahead!
#BitcoinCore #CMake

[glozow @glozow]

If you're in London for @advbitcoin, join us at bitdevs this Wednesday evening in Shoreditch!

It's a socratic seminar hosted by @Stphnvlstk @ConorOkus and myself. We'll chat about what's been going on in bitcoin dev/research.

Drinks on @bitcoinbrink ;)

https://t.co/30UQfZMhs2

[Max @max3dwards]

Join us in 10 minutes for PR Review Club where we will be going through Bitcoin 26.0 RC test guide. https://t.co/B1PoeYuEys

[Murch @murchandamus]

BTW, the pull request https://t.co/LsjzRYN6IF proposes adding a coin selection algorithm to Bitcoin Core wallet that minimizes the input weight for a transaction. Review welcome.

[Max @max3dwards]

@achow101 Mondays it looks like?

[Scaling Lightning @ScalingLN]

Lots more documentation now available: https://t.co/7lVhnDJPtV

[Scaling Lightning @ScalingLN]

New release: https://t.co/0fJStEE1uV

[Max @max3dwards]

@actuallyCarlaKC @WitDeJesse @ScalingLN Will look into making a chart to easily run SimLN inside Scaling Lightning as I think that will be more useful.

[Bitcoin Ekasi @BitcoinEkasi]

Hi, @danheld. When asked what adoption looks like here, in the townships outside Mossel Bay, South Africa, I've always emphasized that it's small scale and, more importantly, that we've kept it small on purpose.

I can't speak for what's happening in Peru, obviously, but it's probably safe to assume that there are some similarities with what we're building here, in South Africa.

Adoption must be precipitated by understanding through education, and that, more often than not, can only happen through practical demonstration (and not classroom-style theoretical explanation) due to high levels of illiteracy and a severe lack of general basic education.

In other words, the 2 people/day, 10 - 15 people per week, a small fraction of transaction volume, is a practical demonstration of sorts.

What matters is the mere fact that it is utilized in such circumstances at all. The demonstration that it is possible.

Yes, Bitcoin can bank unbanked people, and there are real benefits to that, but it can also cause much harm to those same people (disproportionately so) if adopted quickly.

When a wealthy person loses half their net worth, buying in at the wrong time, it hurts nothing more than the ego. When a person who struggles with basic survival loses half their net worth, obviously it's a different story.

The point is, under certain specific circumstances, you might see fast adoption where there is a lower concentration of wealth.

But I think it's to be expected that in areas with a lower concentration of wealth, Bitcoin will be adopted with a different approach. With not as much focus on SoV, or the number of merchants/transactions over a specific period. But instead with more focus on using it as a demonstration of what's possible.

The use case as a SoV is well understood and demonstrated through several cycles. But under the circumstances that @JoeNakamoto is reporting on here, it is not as well understood or demonstrated.

Not yet.