The "What is Money?" Show Core vs Knots — Who’s Really Controlling Bitcoin? w/ Jameson Lopp
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Oct 17, 2025 Jameson Lopp, a Bitcoin engineer and entrepreneur, dives deep into the Core vs Knots debate that stirs the Bitcoin community. He discusses the implications of node software and the nuances of the OP_RETURN policy, explaining how it impacts on-chain data usage. Lopp articulates why most users overlook the node conflict and critiques the current understanding of spam in the network. He also highlights the economic incentives driving data storage choices and warns against the ossification that could hinder Bitcoin's adaptability.
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Consensus Vs Policy Distinction
- Consensus rules and node policy are different layers that create complexity in what Bitcoin allows and filters.
- Determining "spam" is a gray area that resists precise machine-enforceable definitions.
Why OP_RETURN Exists
- OP_RETURN was added to discourage creating permanent UTXOs by letting protocols embed ignorable data.
- The Core change debate centers on relay (policy) limits, not consensus, so it won't alter validity rules.
Don't Rely On Relay Filters Alone
- Don't expect local node filters to fully stop unwanted transactions; near-universal relay refusal would be required.
- Focus on incentives and demand rather than relying solely on relay-level censorship to block spam.
