Calling it, Bitcoin’s price is going to go up bigly now. The dust is settling and between red team’s bug fixing and BIP110’s failure Bitcoin is looking super stable.

One positive thing at the moment is everyone is talking technical bitcoin again. Technical bitcoin is what interested me in the first place, it’s probably what interests most high conviction bitcoiners too. Talk cryptography and tech more, and macro less. Cold, unstoppable, immutable math is where it’s at. Attract the next wave of autists, we HODL real good.

This is this bear market’s FTX moment.

The villains of the bear market are the heroes of the last bear market. Self-custody saved plebs from Celsius, Block-Fi, FTX. Bitcoin only self-custody was pushed so hard, “safer because it’s simpler”. RIP.

So here’s how the meeting went: “So we make a super bitcoin maximalist hardware wallet / brand with closed source coding. We come out swing with unique features that Bitcoin maxis can’t resist. We launch with transparent cases on our wallets so everyone thinks we’re like this super transparent trustworthy company, we’ve got nothing to hide. We know because of number-go-up technology that the earlier we do it, the larger the nominal bitcoin UTXOs stored on the wallets. We let some time pass, let the brand name get super strong. Then BAM. Hit our oldest wallets with secret hidden low entropy bug and take all their money.”

Hardware wallets have to be the cheapest security-to -valued-secured ratio item. It’s like a skyscraper being held together by one nail.

Trust wallet wins again!

The owners want to exit or want liquidity from the sale

When you think you’ve come up with a genius new energy idea - pump-less pumped hydro - and then realise your dumbass just forgot clouds exist.

Which side of the BIP-110 has the following position: Nodes default to low OP_RETURN value (83 bytes or less). OP_RETURN value of your node can be increased if you want. OP_RETURN usage fee is like 100x normal fee rate per vbyte. Because that’s my position. You can put your BS in the blocks if you want, but you need to pay out the arse to do it. Knowing that it’s extremely expensive, most people won’t use it so the default OP_RETURN size can be reduced. Incentive of OP_RETURN user is to minimise the size of their data as much as possible, or to be using it for a price-insensitive use case like (INSERT EXAMPLE HERE??). Long term either OP_RETURN users are driven out because it’s too expensive, or they are forced into developing extremely data efficient use cases.