Renaud Cuny

0.08%... That's the fee premium SpiderPool earns over Ocean by filling blocks with non-financial data. Issue #2 is out. The data on who's filling Bitcoin's blocks.

Issue #2: F2Pool & SpiderPool: The OP_RETURN Connection

One pool stepped back. Another scaled up. Why?

A few months ago I still thought Core v30 would get delayed, or that fees alone would kill spam. I was wrong. So I dug into 18 months of blockchain data from my own node. Issue #1 of Bitcoin Block Space Weekly is out: - Marathon tested 1MB OP_RETURN payloads in May - 3 pools now rotating - 21% of nodes moved to Knots - 2 soft-fork proposals gaining traction renaudcuny.substack.com/p/bitcoin-block-space-weekly-issue

“v30 won't change much - miners already bypass policy with direct submission anyway." I tracked 3months OP_RETURN data to test that claim: - Before Oct 10: Minimal large OP_RETURNs - Oct 10: v30 is released - Same day: F2Pool mines a 97KB OP_RETURN. - After Oct 10: Clear increase. Who's doing this? F2Pool , Marathon, SpiderPool -> Combined 22-23% of the hashrate 23% of miners can turn 100% of nodes into large file (spam) storage devices. v30 relay policy enabled this. Consensus rules will fix it.

Bitcoin hashrate trending higher -> Now at 972EH/s. Wen 1000EH/s? I’d say quite soon…

Crypto sentiment back to Fear zone 😨 Bitcoin price is highly correlated with sentiment. We could test $110k today… Fear zones are usually good times to accumulate though.

Bitcoin hashrate again back to 1000EH/s 👀

🧵 "Bitcoin is a ghost town" they say, pointing to quiet mempools But in the last 3 months, $60B+ moved on-chain daily on average That's 588,824 BTC flowing through the network every single day The "ghost town" crowd is measuring the wrong thing entirely... 👇 2/ Here's what's actually happening: While transaction COUNT dropped slightly, transaction VALUE remains massive: $60B+ daily on-chain transfers 4.3M BTC weekly (21.6% of total supply) Same volume levels as 5 months ago This isn't a ghost town - it's serious money moving seriously 3/ Plot twist: Bitcoin on-chain value often EXCEEDS daily spot trading volume June 11th example: 🟠 624,437 BTC moved on-chain ⚪ 467,791 BTC spot volume Real Bitcoin → Real wallets vs. Paper trading → Same coins recycling Which one matters more? 🤔 4/ What this actually signals: ✅ Less speculation, more actual utility ✅ Institutions moving capital quietly ✅ Bitcoin working as designed: final settlement layer ✅ Empty mempool = efficiency, not abandonment The network is maturing, not dying 5/ The "ghost town" narrative completely misses the point Bitcoin isn't about constant mempool chaos - it's about moving real value efficiently What other "obvious" metrics do you think tell incomplete Bitcoin stories? 🔍 Building tools to dig deeper into these questions

I can no longer copy and paste to my primal client. Anybody having same problem?

Let’s remember the last moments of #Bitcoin below $100K. We’ll remember that with a bit of nostalgia..