It's true -- early Bitcoin prioritized **use** and **rapid innovation**. This tweet fails to emphasize a key factor: the blocksize war, and the devs trying to keep blocks "small". (Both the limit, + devs' desire to prevent **use** of the chain -- and prevent L1 bytes from being "wasted" -- i.e., Bip47 etc) Partly, this is logical: it manages the full-node-cost externality. It has since metastasized into a hatred of all "Bitcoin users" (i.e., the ordinals crowd) and monopoly on "proper" usage (and "proper" development). (With Lightning and StratumV2 being sacred -- they are both very bad ideas, bad for users, bad for Bitcoin, but they pay dev salaries and are technically prestigious [and preserve the monopoly-guild], so are "proper". Meanwhile, Slipstream and Bip300 are the reverse.) THE FIX IS SIMPLE: Bitcoin Core should declare that it is their goal to maximize usage. Specifically: maximize total txn fees paid to miners, and minimize the cost of running a full node. Then, the...
Debunking the Flat Bitcoin Theory 🧵 In the early days of Bitcoin (2009-2014) there was a massive amount of experimentation and innovation on bitcoin The first NFTs and cryptoart started on Bitcoin The first memecoins started on Bitcoin The first stablecoins and real world assets started on Bitcoin The first dapps started on Bitcoin The first DEX started on Bitcoin The first on-chain governance started on Bitcoin The first crypto degens were playing Satoshi Dice on Bitcoin But then the OP_RETURN wars happened and people like @lukedashjr vilified innovation and scared builders away resulting in a long period of stagnation (2015-2023) This period of stagnation gave birth to the Flat Bitcoin Theory which infected the minds of nearly everyone The Flat Bitcoin Theory is a belief held by "Flat Bitcoiners" who think that Bitcoin is a boring blockchain that is not capable of the innovative use cases that we see on alt L1s like Ethereum or Solana But thankfully in January 2023...
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