"REPOST, recorded June 2024. Everything Luke Dashjr warned about is happening right now."
Are you running BIP-110 & Bitcoin Knots anon?
By Cedrik Youngelman
REPOST, recorded June 2024. Everything Luke Dashjr warned about is happening right now.
Luke Dashjr - Is Bitcoin In A Civil War?
Three or four entities decide what goes into every Bitcoin block. Most "miners" don't even know what they're mining. And if too few of us run nodes, Bitcoin quietly becomes a CBDC.
The Bitcoin Core developer who caught the accidental 2013 hard fork before it broke the network came on to explain why mining is dangerously centralized, why the spam wave is a coordinated attack, and why he built a pool to fight back.
@LukeDashjr, Bitcoin Core developer with 200+ contributions and maintainer of the BIPs, founder and CTO of Ocean, and the man who detected and helped stop the 2013 chain split, joins me to lay out the fight over Bitcoin's future in plain English: the difference between a real miner and a "hasher" who just sells compute, how three or four pools (really Bitmain) control what goes in every block, the invisible tax hiding inside FPPS, why he calls the spam wave a funded attack to destroy Bitcoin, why Bitcoin becomes a CBDC if too few of us run our own nodes, whether we are already in a civil war, and how Ocean is trying to hand block construction back to miners.
Send this to anyone who thinks Bitcoin mining is decentralized.
TIMESTAMPS:
00:00 Intro
01:50 Who is Luke Dashjr
04:09 The rabbit hole: his first patch in 2011
06:06 When Bitcoin became essential (there's no plan B)
10:09 Eligius: the first non-custodial mining pool
12:13 Why he started Ocean
13:50 The real consequences of pool centralization
16:34 Hasher vs miner: who actually mines?
18:36 How FPPS pays you, and what it hides
20:05 Why big pools become proxies for Bitmain
22:35 The launch, and why "censorship" became the word
24:49 What Bitcoin is actually built for
26:40 How to define spam
33:06 "The people behind the spam are out to destroy Bitcoin"
34:47 How the attack gets funded by gamifying it
37:13 Is this an existential threat?
38:48 Run a node, or Bitcoin becomes a CBDC
40:09 Bootstrapping a mining pool from zero
45:40 What non-miners can actually do to help
46:31 Should Bitcoin ossify, or keep upgrading?
49:24 How censorship-resistant is Bitcoin today?
50:00 Is Bitcoin already in a civil war?
51:10 Would the good guys still win a block size war today?
55:53 Ocean's roadmap: decentralizing block construction
1:00:07 How Ocean got its name (Jack Dorsey's nudge)
1:01:53 Do we have a problem in Bitcoin culture?
1:03:22 What Bitcoin means to Luke
1:07:11 The clause: Ocean can do no harm to Bitcoin
1:08:10 Where to find Luke + @ocean_mining
Are you running BIP-110 & Bitcoin Knots anon?
By Cedrik Youngelman
REPOST, recorded June 2024. Everything Luke Dashjr warned about is happening right now.
Luke Dashjr - Is Bitcoin In A Civil War?
Three or four entities decide what goes into every Bitcoin block. Most "miners" don't even know what they're mining. And if too few of us run nodes, Bitcoin quietly becomes a CBDC.
The Bitcoin Core developer who caught the accidental 2013 hard fork before it broke the network came on to explain why mining is dangerously centralized, why the spam wave is a coordinated attack, and why he built a pool to fight back.
@LukeDashjr, Bitcoin Core developer with 200+ contributions and maintainer of the BIPs, founder and CTO of Ocean, and the man who detected and helped stop the 2013 chain split, joins me to lay out the fight over Bitcoin's future in plain English: the difference between a real miner and a "hasher" who just sells compute, how three or four pools (really Bitmain) control what goes in every block, the invisible tax hiding inside FPPS, why he calls the spam wave a funded attack to destroy Bitcoin, why Bitcoin becomes a CBDC if too few of us run our own nodes, whether we are already in a civil war, and how Ocean is trying to hand block construction back to miners.
Send this to anyone who thinks Bitcoin mining is decentralized.
TIMESTAMPS:
00:00 Intro
01:50 Who is Luke Dashjr
04:09 The rabbit hole: his first patch in 2011
06:06 When Bitcoin became essential (there's no plan B)
10:09 Eligius: the first non-custodial mining pool
12:13 Why he started Ocean
13:50 The real consequences of pool centralization
16:34 Hasher vs miner: who actually mines?
18:36 How FPPS pays you, and what it hides
20:05 Why big pools become proxies for Bitmain
22:35 The launch, and why "censorship" became the word
24:49 What Bitcoin is actually built for
26:40 How to define spam
33:06 "The people behind the spam are out to destroy Bitcoin"
34:47 How the attack gets funded by gamifying it
37:13 Is this an existential threat?
38:48 Run a node, or Bitcoin becomes a CBDC
40:09 Bootstrapping a mining pool from zero
45:40 What non-miners can actually do to help
46:31 Should Bitcoin ossify, or keep upgrading?
49:24 How censorship-resistant is Bitcoin today?
50:00 Is Bitcoin already in a civil war?
51:10 Would the good guys still win a block size war today?
55:53 Ocean's roadmap: decentralizing block construction
1:00:07 How Ocean got its name (Jack Dorsey's nudge)
1:01:53 Do we have a problem in Bitcoin culture?
1:03:22 What Bitcoin means to Luke
1:07:11 The clause: Ocean can do no harm to Bitcoin
1:08:10 Where to find Luke + @ocean_mining
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