"BIP-110 catches almost no spam." That's become the main argument against it. By raw transaction count, it's not entirely wrong. But count is the wrong metric. After decoding every OP_RETURN on Bitcoin for the last 60 days: 91% is now one funded protocol: Alkanes -> Millions of tiny mints BIP-110 won't touch (and shouldn't, that's relay policy's job). But those mints exist because contracts were deployed for them. - Deployment = a WASM binary in a Taproot reveal. 627 of them in 60 days. - Every single one rejected by BIP-110. You don’t stop a metaprotocol by filtering its mints. You stop it at deployment. https://blockspaceweekly.substack.com/p/issue-29-counting-the-leaves

"Filtering arbitrary data is censorship. It betrays Bitcoin's neutrality." It doesn't. Every protocol is defined by what it refuses to carry. A voice codec dropping oversized packets is not silencing speech. A monetary network that won't defend its scope doesn't stay neutral. It just lets whoever has the most resources define its scope instead. New issue: why Bitcoin isn't a bulletin board, even when the bulletins are noble. https://blockspaceweekly.substack.com/p/issue28-the-freedom-text-trap

Thank you and well said!

Foundry USA started mining large OP_RETURN data in May. They likely 'just' upgraded to v30 and ran the default. The harm followed anyway. New piece on what changed, why it matters, and why we need BIP-110. https://blockspaceweekly.substack.com/p/issue27-default-is-not-neutral

Bitcoin Block Space Health this week: - Decentralization: 61 - Security: 41 A 20-point gap inside the same dimension. UTXO set is fine. Composition is slowly degrading. Large OP_RETURN payloads pinning Security to the floor. Why a single score would erase the story: https://blockspaceweekly.substack.com/p/issue-26-block-space-health-structurally

Thank you, really appreciate that. More coming.

Full write-up: https://blockspaceweekly.substack.com/p/is-bitcoin-earning-its-monetary-premium

Bitcoin's price is mostly a bet on its structure. This week I launched v2 of The Bitcoin Portal, anchored by the Bitcoin Monetary Health Index, a 0–100 score across 7 dimensions of structural health. Methodology versioned, transparent, opinionated. https://thebitcoinportal.com