Damus
Peaky · 1w
Afaik you couldn’t explain until Bitcoin. Once you have fixed supply (monetary aspect), stored and validated data (informational part) and energy conservation via mining and pow (physics) you can li...
Tauri | Bitcoin BLAKE2b profile picture
Nope, still a tall order. Bitcoin is a coordination mechanism, not physics set in stone. It helps out to filter the signal from the noise and allow for humans to better organise their economic decisions, but it doesn’t set any hard boundaries for how they might act if all the underlying assumptions (like “is the protocol decentralised enough” vs “it’s completely centralised” and “nobody calls the shots” vs “who’s calling the shots”) get undermined. That’s how the Gold Standard was perverted until it was eventually put to the death. You’re now at the FDR stage of development (1933). Big Bitcoin just pull a 6102. There will be some concessions eventually to ease the pain (a pump here and there, Red team iMpRovInG sECuRity etc.) but the writing is on the wall here. The sooner you act accordingly, the better you will be positioned for the next big attack.
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Peaky · 1w
I think you are right on coordination and history so far, still why did Bitcoin manage to repeat Gold’s history so far? Speed run of 5000 years or more just under a couple of decades. You can 6102 all day long but if you are “big bitcoin” then are pulling the rug under your feet. Physics set...