Damus

Recent Notes

exist270 · 6h
"Caveats were the downfall of many a man." -nostr:nprofile1qqsxew647syatr8wexg7avd54grhjv086pudvjw6vesjss5mkeakjrqpzdmhxw309ucnydewxqhrqt338g6rsd3eqy2hwumn8ghj7ct4w35zumn0wd68yvfwvdhk6ztzxxf
gojiberra profile picture
ok, i detect you farther along the path of wisdom than i.

however in the case of an actual split and instead of straight up selling the split that one doesn't want, could we just send it to LEDN, get half back, and let the other half ride. maybe it's just better to sell 100% on exchange.
exist270 · 5h
I won't lie & say I've never sold a chain split, but in retrospect, it was a mistake that I had to subsequently remedy, even though I technically chose correctly. ๐Ÿคทโ€โ™‚๏ธ If I had to do it again, I would have just watched the fork wallet go to zero; my current plan. ๐Ÿ’โ€โ™‚๏ธ I could hav...
exist270 · 6h
"Caveats were the downfall of many a man." -nostr:nprofile1qqsxew647syatr8wexg7avd54grhjv086pudvjw6vesjss5mkeakjrqpzdmhxw309ucnydewxqhrqt338g6rsd3eqy2hwumn8ghj7ct4w35zumn0wd68yvfwvdhk6ztzxxf
exist270 · 6h
Gamble on this shit, bro. ๐Ÿ’โ€โ™‚๏ธ Do it. ๐Ÿค™
Rich Nost · 11h
Economic weight
gojiberra profile picture
what do you think about the idea of profiting from split.

is it possible for someone who is ride-or-die on BIP110 to sell coins by splitting them somehow? like take advantage of the acceptance window for large Op return transactions to send them to a custodian that wants them?
1โค๏ธ1
exist270 · 10h
You'll be doxxing your entire stash if you send one side of the chain split to an exchange to sell it off. ๐Ÿ’โ€โ™‚๏ธ And if you're wrong, you end up with nothing. ๐Ÿคทโ€โ™‚๏ธ Better to not do anything. ๐Ÿค™
ethfi · 22h
Real talk
mleku · 22h
yeah. i do think it gives them a slight edge. i also think some miners might make that bet. mining is a brutal business. many have come and gone. if getting blocks through a few seconds faster means other miners switch to their new block the chances of the block remaining on the best chain are incre...
note1phjxx...
gojiberra profile picture
so we have a lot of common ground! i agree with you that this brings into question even the foundations of bitcoin. it will be an interesting test of how bitcoin works.

i'm still a little unclear how the miners decide to fall... it sounds like bip110 blocks may be passed around the network just a little faster than non-compliant blocks. otherwise there is no physical advantage, it guess like it's just a social choice for miners to change?

as far as are we going to have charismatic groups pulling us every which way, my idea is there's probably some function of time/magnitude of attack. similar to how bigger storms come less frequently, but the more clogged the ditches and rivers become and the bigger the eventual flood will be.

the last big fork was before i was aware of bitcoin so it's all new to me.
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mleku · 22h
that is right. mainly spam is slowed down. miners just mine what they see that maxes their fees. a few miners may also not mine pammy transactions. the hysteria is being built up around forking by the people whose business model is based on data storage. those that are promoting bitvm, and thus dep...
note142774...
gojiberra profile picture
your last paragraph is how I also understood bitcoin-- the distributing of trust was such that there was no risk of us being able to collude to change it.

I like your framing of how "no counterparty risk turns into not knowing what small group becomes the risky counterparty you have to worry about". The concern you are makes Bip110 sound a bit like an insurgency.

and I know you were not arguing on the Bip110 side...

However, for your stated concerns of "Are my transactions permanent? Is 21 million a cap? Is a presigned transaction I make today ever going to be able to be broadcast" -- i believe those are sacred planks of both factions? so you don't have anything to worry about...
Diff-thong · 1d
That sounds like a standard to me.