Damus
waxwing profile picture
waxwing
@waxwing
Glad to see a large number of people expressing themselves over the suggestion of freezing coins.

It will not work; a Bitcoin in which that happens is basically worthless. I mean that both functionally and monetarily. Because the main thing that makes Bitcoin distinct from all the other coins is that it has no rulers.

Users and eventually hash power will leave and go elsewhere if it proves to have rulers.

And no it does not have rulers today because soft forks have somehow got activated, occasionally. In a decade there have been 4, iirc, and *crucially none of them impacted any user's existing property rights*. Just giving you more options, not 'rulers'. Still it's appropriately nearly impossible to make such changes.

While contrary to the false statement in BIP361 about 'supply changes', there is no certainty about what happens if someone gets access to those old keys. It could be a big clusterfuck, or not, but at least it won't kill the project if a viable PQ alternative exists by then.
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Constant · 1w
Still have not read BIP361, and dont care, but your statement on freezing utxos is fundamentally wrong. Bitcoin has no ''property rights'', it has means for you to resist attack (either by running hardware and spending energy, or bribing one of those that do so(fees)). It has nothing to with ''rule...
Jameson Lopp · 1w
The user who mined block 74,638 had his property confiscated by social consensus and a soft fork because it was the economically rational thing to do 🙃
MoriYuzaa · 1w
I dont think freezing coins will work for reasons people dont even understand, but theres just so many highly intelligent people in this space with strong opinions they cant help themselves but to constantly challenge every idea
DerOptimist · 1w
I think one could simply concentrate one’s energy on working on quantum‑resistant addresses instead of freezing other people’s coins. I don’t understand why there are people who are so keen on freezing other people’s coins. What are they after? Is it to prevent those coins, which might be ...
Leo Wandersleb · 6d
Freezing coins in this case is not some rulers confiscating some users' coins but all actual users refusal to sponsor a Quantum frenzy. You are painting a picture of somebody imposing a change on people that would destroy their property entirely. A more benevolent interpretation is that all those ...
Matt Corallo · 6d
There does seem to still be a lot of people talking past each other. There’s a big difference between “this is bad and I don’t support it” and “I don’t think the market will support this”. I’ve seen a lot of arguments to the first but relatively few of the second. Ultimately, the vie...