VA7XO66

[Leonidas 🧡 $DOG @LeonidasNFT]

My thoughts on BIP-110 and the "anti-Ordinals movement" that will attempt to fork the Bitcoin network in August 🧵

The greatest threat to Bitcoin is neither Ordinals nor Runes

It is the pervasive and dangerous ideology that took hold after the Blocksize Wars that using Bitcoin L1 is bad

Starting in 2017 a bunch of lunatics in the "Lightning ecosystem" hijacked Bitcoin and psyoped everyone into believing that making transactions on Bitcoin L1 was somehow immoral and harming children in El Salvador

Fast forward nearly a decade and here are some of the downstream effects of telling everyone to stop using Bitcoin L1

A catastrophic amount of time and resources were wasted building a now obsolete and failed "Lightning Network"

Bitcoin has now been infiltrated by feds and bankers who have normalized not only paper Bitcoin but Ponzi scheme treasury company versions of paper Bitcoin

When you joined Bitcoin a decade ago you were taught how to self-custody

When you join Bitcoin today many of the top "leaders" tell you to buy pump and dump Bitcoin proxy scams trading anywhere from 2x to 100x NAV

The vast majority of "Bitcoin maxis" have never even used Bitcoin L1 and are technically illiterate having no idea what a UTXO is

The biggest joke of all is that discouraging people from using Bitcoin L1 created the low-fee environment which allowed the data storage use case to take root

It is laughable that BIP-110 claims "data storage competes unfairly with payments"

You can transfer billions of dollars of value on Bitcoin L1 in roughly 200 bytes yet Bitcoin maxis failed so badly at creating demand for block space that it became economically viable for artists to store 4 megabyte JPEGs while competing fairly in the exact same fee market

BIP-110 is by far the least cypherpunk proposal by the least cypherpunk group of people in the history of Bitcoin

They have completely lost the plot

Instead of coming to terms with the consequences of their own decisions they are attempting to introduce radical levels of censorship to a network whose entire value proposition is censorship resistance

There are no words to describe how fragile someone's ego must be to blame artists for using a low-fee environment created by your own reckless decisions

It is not a coincidence that 67.9% of all Bitcoin transactions this week were Ordinals and Runes

While the Bitcoin maxi movement is completely going off the rails

We are the ones who actually use the Bitcoin network

We are the ones who secure the Bitcoin network by paying fees

We are the ones who understand the Bitcoin network at the deepest technical level

We are the ones who denominate in Bitcoin and actually use Bitcoin as money every single day

We are the ones who self-custody our Bitcoin and carry on the ethos of "not your keys not your coins"

We are the real Bitcoin maxis now

There is nothing more cypherpunk than running your own node and ripping some JPEGs onto a censorship-resistant network regardless of how unpopular it is

Satoshi's first act on Bitcoin was to inscribe data

We are simply carrying on the torch

Because the prior Bitcoin maxis have failed so miserably the Ordinals and Runes enjoyers have become the new Bitcoin maxis

We will make self-custody cool again

We will make experimenting on Bitcoin fun again

We will get people to use Bitcoin as a medium of exchange again

We will educate people and make Bitcoiners technically literate again

We will secure Bitcoin by creating a robust fee market and high demand for blockspace again

We will purge Bitcoin of the feds and bankers who have infected it like a disease and that starts with defeating the BIP-110 fork in August

I am calling on all $DOG soldiers, all Ordinals enjoyers, and all Runes degens to band together and fight against this BIP-110 cancer that is hell-bent on destroying the Bitcoin that we know and love

If you are against BIP-110 and agree that Bitcoin should remain censorship resistant show your support by quote posting this with "Defend permissionless blockspace. Reject BIP-110." and be sure to repost all quote posts

Long live Bitcoin

Long live Ordinals and Runes