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X @Nick Szabo
Nick Szabo· 2025-11-19 02:53
RT ₿itcoin ₿ombadil (@BitcoinBombadil)Satoshi and the early Devs built Bitcoin as a well fortified monetary protocol within finite dimensional limits on the Internet.After Satoshi left, creeping relaxation of filters & limits started.42, then 83 bytes conceded for Op_ReturnThen we increased the block size via the witness discount and introduced new scripts without sufficient datacarrier limits and other constraints on SegWit & Taproot.We have to get Bitcoin confined and protected with narrow data limits to ...
X @Nick Szabo
Nick Szabo· 2025-10-31 05:15
RT Guy Swann (@TheGuySwann)"I think ossification is amazing. The video I made about Taproot, asking whether or not it was a good soft fork, I think has some merit to it, because the use case that the vast majority of people that are using Bitcoin for is savings, right? Like store of value. And why did we do Taproot, again? This is the thing that we should be asking about these soft forks: a good post-mortem of, 'Okay, did it work? Did it do what we wanted?' And if you look at 90% of the UTXOs that are using ...
X @Nick Szabo
Nick Szabo· 2025-09-30 03:01
Bitcoin Network Policy & Market Dynamics - Node policy changes are reactive to network and market conditions, not consensus changes [2] - Market demand and miner willingness to mine transactions override filters, even for minority interests [2] - Organic user demand can significantly impact block composition, as seen with sub 1 satoshi/virtual byte transactions reaching up to 70% of some blocks [2] OP_RETURN Data & Incentives - The current network relays and mines data regardless of OP_RETURN size (80, 160, or 100kb), making size adjustments socially contentious rather than technically or economically effective [4] - There's little incentive for using larger 100kb OP_RETURN due to being 4x more expensive [3] Solutions & Mitigation - Economic solutions, such as cheaper data availability OP_RETURN with incentives for miners, are proposed as a potential solution [5] - Soft forks to limit IP return to 160 or 80 bytes are suggested, but inscriptions may be tricky to limit via soft fork [5] - Hiding data in fake pubkeys is a potential workaround for spam filters [5] Data Inscription & Validity - Contiguous data can be sent in inscriptions, utilizing Taproot segment separators [1] - 1Mb contiguous data in OP_RETURN has been consensus valid since 2014 [1]