$BULLCOIN
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Bailey poses under the cloak of #Bitcoin, but he's 100% shitcoiner. The receipts on this turd are clear as day, and yet... How many simpfluencers go to his "Bitcoin Conference"? How many formerly sensible bitcoiners turn into paid shitcoin propagandists for "Bitcoin Magazine"? [Spoken audio]: This is Matthew Cratters, Bitcoin University. Today, I want to talk about David Bailey's companies and how they are the actual attack on Bitcoin. Contrary to some of the things he's been saying, I wanted to start with a clip from a recent space. So let's listen to this and then we'll talk. I mean, you could. I mean, I don't know. It's so impractical that it could happen that I haven't really explored it, but like if for some mere... He's talking about how he thinks Bip110 is not going to actually activate. The way y'all were able to make it happen, it would be a horrific outcome. And it would mean that Bitcoin eventually is doomed to capture. And I don't understand how y'all don't see, when you have 0.5% of the block signaling for Bip110, how you don't understand that your worldview is the vast, vast, vast minority worldview amongst users. Now, notice that David fails to mention that over 15% of the network is actually running the Bitpoint 10 client. Instead, he focuses on minor signaling, but we're at the point where minor signaling is not mandatory, so it makes sense why all the hash is not signaling for it. It's also missing the fact that the big, the large Bitcoin mining pools don't get to decide the rules of Bitcoin, but we're gonna see he has other motivation here, so let's finish listening. So you have this tiny, tiny little ideological. And you should see who he's in the room with here. He's in the room with all these spammers and scammers like Leonidas and you can see everyone's icons basically, that they're all into the NFTs and all the garbage on Bitcoin. View, that spam is somehow like the paramount, most important feature of the protocol and you're going to force your will upon hundreds of millions of people who have massive, I mean people have massive skin in the game on this network and you're just gonna force your will upon them and destroy the value proposition of Bitcoin. Like I don't understand how you don't see. Okay, destroying the value proposition of Bitcoin. We want to use Bitcoin as money. David's the one who wants to use it for arbitrary data, for inscriptions, for BRC20 tokens as we're about to see. And in terms of us imposing our will on the network, it's actually David and his companies, as I'm about to demonstrate, that have been imposing a huge burden on node runners. But of course he omits everything like that. It all really began back in December of 2023. This tweet, this post from David, Ordinals will implode the shitcoin layer one bring tens of millions of crypto D gens to Bitcoin I'm not sure exactly why you'd want to do that if you're interested in Bitcoin being money bring tens of billions in new capital of Bitcoin This is of course what he's interested in as a crypto VC a hundred X the number a hundred X the number of Bitcoin nodes Well, that didn't happen The only thing that got people to run more Bitcoin nodes has been the BIP 110 and the Bitcoin knots movements quite quite ironically Also, David says, fund Layer 2 development, keep mining profitable as if that's a problem. Send Bitcoin price to the moon. Let's do this. This is December 2023. What in fact we've had instead is a huge amount of UTX so set, bloat. Bitcoin's price has obviously not gone to the moon because we have major problems. But what I thought I would do here is just a very calm analysis of some of the companies that David Bailey is invested in. And of course, he never mentions any of this in his space there. we can see these are publicly disclosed investments from just the second quarter of 2024 and we're going to be going through a number of these. But basically UTXO management is his venture capital arm of BTC, Inc., or Nakamoto, or whatever it's called now. But the problem is he is motivated by these companies that he's invested in. So he's not telling you what's actually going on. So for example, we have what is this one called BAMKFI. It sounds like BlockFi or something. we're putting million dollars of bank, a bank of Nakamoto dollar. Basically here, they're an issuer of the Nakamoto dollar and USD a synthetic dollar and Bitcoin layer one. And it's and USD is circulating its BRC 25 byte tokens. This is something that contributes and has contributed a lot to most of the UTXO set blow UTXOs are just chunks of unspent Bitcoin and they cannot be pruned by nodes but we can see that even these contribute to it and this has been a problems since 2023. We can see the timing of his tweet here, December 2023. This is about when the problems started and when everything began to begin to take off in terms of UTXO set bloat. So I would respond to David, speaking of accountability, what gives you the right? You're talking about us doing a very conservative soft fork that basically just encloses a couple of these exploits that your companies have been taking advantage of. So speaking of accountability, what gives you, David, the right to load up our nodes with your crypto garbage. You're pretending to have the ethical high ground here, which you certainly don't. You, David Bailey, make a lot of money if these companies do well, while uncompensated node runners like me and other people from today until the end of time will need to store your garbage on chain. Bitcoin UTXO said, as we said, is not prunable. So what's happening in fact, we are not the attack on Bitcoin. It's very important that people understand this. We BIP 110 Bitcoiners are responding to the mess that has been created by many of the companies that David Bailey funded directly. We are not the attackers. We're simply trying to close or narrow some of the attack surfaces that you've been using with your companies, like fixing the inscriptions exploit, which would take care of inscriptions and BRC-20 tokens, and preventing large hop returns at the consensus level. Now, of course, they can modify these metaprotocols after we do this, but we can fight them at the mempool level and just displaying this level of hostility will will make it much more difficult for crypto VCs to raise additional gamified spam projects that spam the UTXO set. So UTXO management, again, David's company, UTXO management is proud to support Ordinox in their quest to help Bitcoiners access native DeFi applications. So they invested in it. Ordinox brings EVM liquidity to Bitcoin Ordinals, BRC 20 tokens, et cetera. So these companies like this that have contributed massively to the UTXO set blow and hurt future node runners and made it more difficult to spin up a new node. What's another UTXO management company? OrdinalSpot, which they invested in. OrdinalSpot Mintz, sorry, OrdinalSpot Mintz full BRC 20 token supply in a single Bitcoin transaction, of course, with Marathon. So again, contributing to more UTXO set blow. UTXO management invested in UX, UY, decentralized multi-chain, reach shitcoin trading platform. And what did they do? They also issue BRC20 tokens. Again, this is what has contributed to the UTXO set bloat. So who is the attack here on Bitcoin, David? Is it your companies? Or is it people who are trying to close these exploits? So then what do we have next? We have Satgo. We have Sat Republic, the company behind Runevo, invested in by UTXO management. What is Runevo? Runevo refers to a popular community-driven ecosystem primarily known as NFT collection and brand within the Bitcoin Ordinals runes space. Again, none of this does anything to make Bitcoin better money. UTXO management also invested in Rebar Labs. They funded them, helped to fund them in June of 2024. What does Rebar Labs do? They develop alternatives to the public mem pool as if there is a public mempool. Basically, we all have our own mempools. New protocols like ordinals and ruins have introduced MEV. This is minor extracted value, which is a real problem that, for example, Ethereum has suffered from. So I'm not sure exactly why we wanna bring it to Bitcoin. New protocols like ordinals and ruins have introduced MEV opportunities on Bitcoin despite a slack of native smart contracts support. So I could go through all the different annual or quarterly letters, look up all these companies, and you can find just one after another. And again, this is something he never talks about. He talks about us being the attackers. So David Bailey's UTXO management is clearly invested in many companies that use protocols like BRC20 tokens and inscriptions that are being targeted by BIP110. That's why he hates us. And that's why he calls us attackers. And yet in all of his attacks on BIP110 Bitcoiners, he fails to mention this simple fact. Now, does that make you wanna trust him more or less? David calls Bip110 an attack on Bitcoin, but he fails to mention the terrible impact that his own funded companies have had on the blockchain, the Bitcoin blockchain in terms of block space and UTXO said bloat. And here's the most disturbing thing, if Bip110 fails, and I don't think it's gonna fail, but if it were to fail, this will be a signal to crypto VCs like David Bailey, that the Bitcoin network and blockchain are open for business for spammers and scammers to help the chain with their garbage and especially their Bitcoin affinity scam, scammy labor twos, which are nothing like the lightning network or anything like that. They all come with their own tokens, which of course, crypto VCs like David Bailey benefit from. So this is what's going to happen if BIP 110 fails. We're going to have all of this garbage on change. So we really cannot afford to lose this one. Don't be deceived by people talking out of both sides of their mouth like David Bailey, who pretends to love Bitcoin as money. But what does he actually do what is his revealed preference. He funds all these shitcoin companies and Bitcoin affinity scams. So we can't afford to lose this one. We really need to win Bip110. You can help by running Bitcoin Notts. You can read more about Bip110 in this research which I'll put a link to in the description notes below. You can download Bitcoin Notts, the latest version, and run it for your operating system on a laptop or desktop. You can also run it on the Start 9 server. This is how I do it. I'm not being paid or compensated by them in any way, but this is a really nice way to run a Bitcoin node. Help to support BIP 110 and use it with your wallet, use it with electors and all the different apps that they have on start nine. You can also build your own Paul Am in this video, which I'll put a link to in the description notes below. We'll show you how to do it. And also, if you're running start nine, you can also learn how to mine Bitcoin from home at an industrial scale and help to support BIP110 by trying to mine BIP110 blocks. And also put a link to this video that talks about what BIP110 actually does. So don't be deceived by people like David Bailey and spread the word about what's actually going on here and who the real attackers are. We're trying to fix this gigantic mess which David doesn't even mention on the various spaces he's been in. And so he is the attacker, we're trying to clean up the mess that he has made and we need to stop him permanently and send a signal to his LPs and everyone who invests with these crypto VCs that the Bitcoin network is not open for business for spammers and scammers and that we will fight you all the way if you try to put your garbage on our chain. And this will help to drive the funding away from these large projects. And again, David Bailey has been one of the largest funders of this and really has damaged the Bitcoin blockchain in such a way that this is going to take years and decades to recover from. So we really need to put a stop to him. We need to put a stop to his crypto VC empire by activating BIP110. If you enjoyed this video, be sure to hit the subscribe and like buttons. Hit the notification bell if you want to be notified when I publish my next video. And let me know your questions and comments in the comment section below. Thanks a lot for watching and I'll see you in the next video.
