Core Argument - The report critiques Gloria Zhao's stance on defining "spam" in Bitcoin transactions, arguing her definition is too limited by focusing on resource usage rather than transaction content [2][3] - The author posits that defining "spam" requires considering the *purpose* of Bitcoin, which they believe is being undermined by allowing steganographic content [2] - The report introduces a "third way" to define spam, focusing on steganography's impact on the blockchain's low-entropy carrier signal, which neither top-down nor market-driven approaches adequately address [5][6] Technical Analysis - Steganographic content is defined as spam due to its disruption of the blockchain's low-entropy carrier signal, essential for transmitting high-value transactions [5] - The report outlines three ways to deal with steganographic spam: redefine system purpose, restrict system purpose, or ignore the problem, ultimately arguing against ignoring it [7][8] - The author places Zhao in the camp of redefining the system purpose to accommodate steganographic content, which they deem untenable due to logical contradictions [9] Ethical and Legal Implications - Defining steganographic content as legitimate use leads to the loss of *Mens rea* (guilty mind) defense, posing moral and ethical challenges [10] - Allowing arbitrary content introduces legal risks, potentially exposing the Bitcoin reference client to a wide variety of extreme legal risks [10] Sociopolitical Commentary - The author suggests that the attempt to be "apolitical" regarding Bitcoin's use is itself a political stance [10]

If you've been in NFTs since 2021 this hits hard ...

NFTs were a mistakehttps://t.co/JOl8YRTRnA ...

Business Strategy - OpenSea is pivoting beyond NFTs to become a multi-token trading hub [1] - The shift is happening amid the memecoin boom [1] Company Operations - OpenSea experienced mass layoffs [1]

RT 11AM w/ Seed Club (@11AMdotclub)TODAY. $5K IN PRIZES. 11AM ET.discussing- livestreaming your startup raise- making Solana inevitable- ICM, NFTs and tokensguests@adamcreates_ of @stardotfun@degenroot of @raikucom@meta_hess of @metaplex ...

The best advice I received when I just started my account was:1) Focus on the thing (or things) you are truly passionate about.2) Find brands, teams, and other creators who share that passion.For me, early on it was NFTs which I've built my initial audience around.My first partner was Azuki, a top three NFT brand.My first real contacts in this space were other creators who stuck with crypto (and NFTs) during the 2022/23 bear market like I didwale.moca 🐳 (@waleswoosh):Many of you have really great potential, ...

If you do not own any NFTs, you are not crypto native.Let’s have fun!This is crypto. ...

RT Satflation⚡ (@satflation)“If you don’t like cat photos or you don’t like wizards, or whatever, that’s like your choice, right? But I don’t think, umm, “this is not a legitimate transaction,” or, you know, “this is a waste of, you know, because of NFTs are bad or whatever,” I don’t think that language has a place..well, I don’t think that should be considered when you are talking about writing policy code.”--Gloria Zhao, maintainer of multi-trillion dollar bitcoin's reference client. ...

OpenSea announcement TLDR- Wave 1 locked and Treasure Chests claimable by Oct 17 with $12.2M in prizes- Wave 2 begins today, runs Oct 15 - Nov 15; $1M in tokens added to prize pool- More WETH offer liquidity coming for NFTs in Wave 2- New rewards program features comingTGE details expected later this week, from the Foundation ...

NFTs were actually kind of cool https://t.co/JXsdChsqMY ...