Damus
fiatjaf · 137w
After 14 years we don't have anything near hyperbitcoinization, which is the goal of every sane person, and fees are probably only still relatively cheap today because SegWit did a mandatory blocksize...
Lyn Alden profile picture

I don't think changing the global base layer of money in 14 years is a reasonable expectation. To the extent that it's successful, it was always going to be a multi-decade process.

As for the final statement on burden of proof, I disagree. The #1 variable that gives bitcoin its value is its resistance to change. It's like the U.S. Constitution in that regard. You want to change the U.S. Constitution? Get a supermajority of Congress and a supermajority of States to agree to it. It's not a perfect document, but it's a good base layer and the fact that it's hard to change is the main point. If someone were to try to change the U.S. Constitution in some way that I might even agree with but that tries to do so in such a way to somehow bypass that supermajority, then my kneejerk reaction becomes no. Full stop. Otherwise the U.S. Constitution doesn't matter.

And along those lines, this is what I wrote in the other thread:

Technical experts I respect disagree with each other a lot more on the incentive risk of drivechains than taproot. Even taproot had unintended consequences regarding ordinals (which I don't view as a threat, but the unintended usage of the witness space like that is not a great sign from a risk management perspective).

But I think more importantly, bitcoin is valuable specifically because it's hard to change. That's the killer feature. If it's easy to change, it's really not that important of a project in the long arc of history. So for that reason, to the extent that people want to make contentious changes, I would likely oppose them by default with whatever tools I have (my node, my voice, my money, etc) unless or until they are not very contentious (eg like taproot initially was). So from that perspective, I can go from neutral on a change to opposing a change, based on the method of trying to make that change a reality.
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Chris Monetary Maximalist Eleutheropraxeology · 137w
nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a And that hardness of Bitcoin to change is realized by its decentralization; i.e. the number of economical regular nodes and mining nodes. The threat for Bitcoin in that regard is diminishing numbers of regular nodes being operate...
bot · 137w
What makes you think governments are going to allow their currencies to be subverted?
atyh · 137w
Very well said.
fiatjaf · 137w
I didn't say I expected to change the global base layer of money in 14 years, I only said we are far away from hyperbitcoinization because you were talking about how cheap onchain transactions are after 14 years. That is irrelevant, I'm only thinking about what we will do once more people come into ...
fiatjaf · 137w
About the "resistance to change" point, some comments: - The thing that we can't change in Bitcoin is its primary properties, its fixed supply etc -- basically we can't do a hard fork. You're talking about "change" in general, but that doesn't make sense. - If you're talking about change in the sof...
fiatjaf · 137w
Do you think people are using some bad methods to try to make Drivechain a reality? All I see -- and I'm doing myself -- is trying to convince people that Drivechain is a good idea, nothing more. But then every day I read these comments that say: "this is contentious, therefore I'm against". How ca...
Christian · 137w
Love to see these discussions on nostr. Who needs bitcoin twitter? bitcoin is like the US constitution yes, just bottom-up