When you actually start to think about what a bitcoin transaction is, you realize how silly this statement is and begin to understand what Waxwing is saying.
If I just consolidate my UTXOs, is that a "financial" transaction?
What about when bitcoin had no monetary value? Were those financial transactions?
Bitcoin users have been embedding data into txns from the very first block. Are those "financial" transactions?
What about timestamps? Are those allowed?
It is a slippery slope when you start to dictate what transactions are allowed and which ones aren't.
This isn't about making sure hosting a node is sustainable. There are already size limits for both txns and blocks that keep ongoing storage requirements of hosting a node linear. What we're talking about is the fundamental ethics of whether or not certain transactions should be censored or not.
And then there are the very real consequences about what that censorship can do to the open protocol by incentivizing the use of private txn broadcast networks outside of the default mempool or incentivizing data storage in UTXOs which actually does make running a node and mining more costly.
Tyler Burns
npub1d3…xynp3
2025-05-01 14:30:38
in reply to nevent1q…2tdj
Author Public Key
npub1d30mhvhd0sagmu83wdm26wqk00heptfn05xvgmfx7r9xscstnfcs7xynp3Published at
2025-05-01 14:30:38Event JSON
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"content": "When you actually start to think about what a bitcoin transaction is, you realize how silly this statement is and begin to understand what Waxwing is saying.\n\nIf I just consolidate my UTXOs, is that a \"financial\" transaction?\n\nWhat about when bitcoin had no monetary value? Were those financial transactions?\n\nBitcoin users have been embedding data into txns from the very first block. Are those \"financial\" transactions?\n\nWhat about timestamps? Are those allowed?\n\nIt is a slippery slope when you start to dictate what transactions are allowed and which ones aren't.\n\nThis isn't about making sure hosting a node is sustainable. There are already size limits for both txns and blocks that keep ongoing storage requirements of hosting a node linear. What we're talking about is the fundamental ethics of whether or not certain transactions should be censored or not.\n\nAnd then there are the very real consequences about what that censorship can do to the open protocol by incentivizing the use of private txn broadcast networks outside of the default mempool or incentivizing data storage in UTXOs which actually does make running a node and mining more costly.",
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