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Gracjan Pietras · 1w
Is Bitcoin a Captured Project? Reflections After the BIP-110 Fiasco The most important question in Bitcoin right now is whether it is a captured project. The short answer is: we do not know yet. On ...
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Minority factions within Bitcoin that attempt to hijack the network and fail often misconstrue their failure as evidence that Bitcoin has been captured…when in reality, their failure is evidence of Bitcoin’s decentralization and diversity of thought.
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Gracjan Pietras · 1w
Granted. And I wish this was true in the case of BIP-110. My point is that we do not know. After 2017, many of us believed that nodes ultimately ruled the network. The BIP-110 episode calls that belief into question. Miners were able to overrule a proposal supported by roughly 20% of node runners....