A new proposal suggests burning "spam" Bitcoin UTXOs. We explain why the "CAT" proposal is technically flawed, philosophically dangerous, and amounts to on-chain confiscation.
Today, we break down the controversial "CAT" proposal by Claire Ostrom. This idea suggests snapshotting and burning UTXOs associated with Ordinals and Stamps to curb spam. We analyze the technical flaws, the failed game theory, and why seizing user coins—even "dirty" ones—sets a dangerous precedent for Bitcoin censorship and on-chain confiscation.
Subscribe to the newsletter! https://newsletter.blockspacemedia.com
Notes:
* CAT burns UTXOs under a specific threshold
* 100 million inscriptions are likely junk
* Proposal is a soft fork consensus change
Timestamps:
00:00 Start
06:16 BIP text
08:20 Burning Bitcoin UTXOs
11:55 non-monetary UTXO? WTF?
13:10 BIP process
16:43 Coinjoined Chris' thread
21:14 Game theory
23:08 hard price floor
-
👋The Blockspace Podcast is produced Blockspace Media, Bitcoin’s first B2B publication in Bitcoin. Follow us on Twitter and check out our newsletter for the best information in Bitcoin mining, Ordinals and tech!
Enjoy the show? Check out our website and newsletter by clicking here.
Questions or want to sponsor? hello@blockspace.media
