This New Bitcoin Proposal Would Steal Your Bitcoin

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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