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@ Anon
2025-04-30 02:45:38
What makes me think there will be another wave of monkey spam? Bitcoin Core devs are literally pushing through a source code update as we speak, against the wishes of many, that lifts the cap on the amount of spam that can be crammed into a transaction and, if I’m reading the proposal correctly, makes it more difficult to filter it out at the node level. They’re literally welcoming this type of activity with open arms. It’s championed by a fellow who promotes and profits from these schemes.
No, altcoin scams are most certainly NOT “one and done.” There’s a sucker born every minute. People will not learn. Even the lion’s share of prior victims will not learn.
Now, if your point is that people won’t be fooled by that *exact* same monkey promotion, then ok, I concede. Maybe they won’t. Maybe next time it’ll be a rhino. Or a Trump-themed cat. Or some other harebrained meme. One of them will catch on and fees will spike as monetary transactions get crowded out in favor of these garbage transactions. Then the fee bubble will pop and the cycle repeats.
As an aside, one of the things I absolutely love about Ethereum (as a Bitcoin maxi) is that historically, it’s acted as a magnet 🧲 for this type of garbage, keeping it out of the Bitcoin ecosystem. And how does the Bitcoin developer community respond? By inviting that exact same garbage into our own house.
Your point that hypothetically L1 backspace competition would heat up anyway, even in the absence of all monkeys 🐒, due to the sheer quantity of legitimate monetary transactions, is well taken. You’re absolutely right. And if it happens before the general masses get acclimated to L2 solutions then yeah, that’s a problem. But whatever time window you imagine we have before that happens shrinks dramatically with monkeys (and other chicanery) crowding out legit transactions.