Jeremy Cady on Nostr: I think we have a definition problem. Rune isn't spam. Spam is generally undesired ...
I think we have a definition problem.
Rune isn't spam.
Spam is generally undesired communication, directed to you, often times indiscriminately.
Use of a decentralized, free market network isn't spam. Users of Rune are paying for their usuage just like everyone else.
In so doing, they are transferring Bitcoin for something they value.
Do I place a value on the same items? Not at all. I believe it's another fad and it'll pass. I also believe others will come along.
It's been understood, for quite some time, that on-chain is a valuable and very limited space. The vast majority of Bitcoin users, moving forward, will NEVER own a UTXO.
This is why projects like Cashu, Fedimint, Mutiny, Zeus, Phoenix, and many others are as important as they are.
But censorship of particular transactions, simply because one disagrees with the use case or they are unhappy with the cost of on-chain transactions, is a poor precedent to set.
The chain is an auction house. Only so much room is available. You either bid high enough for a piece of that room or you don't. This will always be the case.
My nodes won't be censoring anyone's transactions and my mining will be for the highest fees possible.
That is the market. The market decides the value. Even if some of the participants use it foolishly.
Checkout this article on how to filter Runes on your node.
https://massmux.org/p/settings-up-your-node-for-filtering
#bitcoin #node #rune
Published at
2024-04-24 09:35:15Event JSON
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"content": "I think we have a definition problem.\n\nRune isn't spam. \n\nSpam is generally undesired communication, directed to you, often times indiscriminately.\n\nUse of a decentralized, free market network isn't spam. Users of Rune are paying for their usuage just like everyone else.\n\nIn so doing, they are transferring Bitcoin for something they value.\n\nDo I place a value on the same items? Not at all. I believe it's another fad and it'll pass. I also believe others will come along.\n\nIt's been understood, for quite some time, that on-chain is a valuable and very limited space. The vast majority of Bitcoin users, moving forward, will NEVER own a UTXO.\n\nThis is why projects like Cashu, Fedimint, Mutiny, Zeus, Phoenix, and many others are as important as they are.\n\nBut censorship of particular transactions, simply because one disagrees with the use case or they are unhappy with the cost of on-chain transactions, is a poor precedent to set.\n\nThe chain is an auction house. Only so much room is available. You either bid high enough for a piece of that room or you don't. This will always be the case.\n\nMy nodes won't be censoring anyone's transactions and my mining will be for the highest fees possible.\n\nThat is the market. The market decides the value. Even if some of the participants use it foolishly.\n\nnostr:note17d8wu5cvefqqx7dpa9vj74gsn0xy2cn8lsx00hl9a53275ah4m4sk70daw",
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