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.
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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
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Published on 4 weeks ago
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