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@ hugomofn
2025-06-09 06:16:26
Bitcoin taught us that the only sustainable way to filter “spam” is Proof-of-Work. Look at all the communication protocols (SMS, email, etc.) being slowly destroyed without a PoW mechanism. Look at all the PoS “L1 blockchains” that sprang up and died, or are dying. Look at the reCAPTCHA mechanism, which works only because it’s a PoW variant—albeit an impure one; Bitcoin PoW is the purest since it’s backed by quantifiable energy expenditure.
I don’t think even Bitcoiners have internalized this lesson well enough.
Using SOFTWARE ALONE to fight “spam”, to separate signal from noise, is a losing proposition. That’s the biggest lesson of Nakamoto Consensus. Proof-of-Work is a true innovation that underpins the whole network.
JPEGs on the blockchain are not a long-term problem because they inherently lack PoW. Just because you call a JPEG-attached sat “rare” under arbitrary rules, doesn’t mean it’s actually rare. It’s fake scarcity. Fake scarcity is not PoW. One sat will always equal one sat for 99.99% of sats. You only waste transaction fees by playing pretend that 1 sat > 1 sat. That’s not sustainable. The only reason inscriptions have any relevance is because of the market being temporarily irrational, and people chasing pumps and dumps for quick gains.
You can call out the hype, but Bitcoin has much bigger fish to fry. JPEGs are pure distractions. Don’t get lost in the distractions.