Damus

Recent Notes

COLDIRON OS · 3d
FWIW the BIP-110 fork already failed: ~99.85% of hashpower stayed on the main chain, it mined two blocks and stopped. No exchange lists a dead fork, so the paper-Bitcoin exposure test isn't happening.
Jack Spirko · 2d
Coming in September 😝 👇 https://blossom.primal.net/0a7fe31b581ac8b45971df62f545f085b18d9d0c820572d91a5ed73a1c9e8ad0.jpg
Sydney Bright · 4d
I appreciate the civil discussion, but I would kindly encourage you to consider how your perspective may too be misplaced. What ends up being consensus is determined by a complex interaction between e...
Excommunicado profile picture
If you believe there was no corruption, collusion or conspiracy and that opinions of people around you constitute the consensus reality there is nothing I can tell you to stop you from using the Core version of Bitcoin. Bitcoin is not a popularity contest of opinions. The nodes have spoken and the chain has split. People do not gravitate towards Bitcoin because its popular but because it provides decentralized permissionless solution to money. If you're in no need of such solution it doesn't matter what you do next. But if such solution is what you need you'll end up diverging from the centralisation of the entire bitcoin ecosystem. And once that centralised ecosystem turns on the nodes, the social contract is broken and the network naturally defends itself and that's why we are here and that's why people don't want to go back to Core. Parting ways and rebuilding is the right thing to do.
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Sydney Bright · 4d
I wish you the best and all the peace. Thanks for sharing your perspective.
Jack Spirko · 4d
"Bitcoin is not a popularity contest of opinions." Ironic since people like me spent 6 months saying that when you guys thought you could change the network with pleb nodes and you refused to believe us. Serious question, in Sept when no exchanges will list LukeCoin, what will you do next? Cont...
Sydney Bright · 4d
With all due respect, the analysis that this “proves” all of these things is quite a strong claim. It is, at least, equally as possible that BIP-110 was simply not a good enough of an idea for m...
Excommunicado profile picture
I think your idea of what constitutes network is somewhat misplaced. Larger ecosystem meaning miners, exchanges, wallets are servants of the network. The actually network is the nodes relaying information to each other. They asked miners to mine blocks according to some rules and the miners ignored them. There was no refusal to bip110 from inside the network unless you count the inflated 30% of core v30+ nodes which did not explicitly say no.
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Sydney Bright · 4d
I appreciate the civil discussion, but I would kindly encourage you to consider how your perspective may too be misplaced. What ends up being consensus is determined by a complex interaction between economic nodes and miners. I am a Bitcoin miner, and one at a hosting company. We at Abundant Mines...
Petar · 4d
The problem is unless everyone moves to blake2b then it will never hold value because there can only be 21 million, most will likely mine it and move it to legacy if legacy is the one holding value an...
Excommunicado profile picture
You're still looking at it through fiat perspective. 1BTC will always be 1BTC if secured by a protocol without 3rd party. That's 1/21M. Core chain has now proven the ability to remove this attribute over time which will make 1BTC less valuable because it will become a smaller part of the full pie. You will then need to compare the size of economy each chain represents. Initially core chain will represent much larger economy but after some time it will be of no use to free people because it will become permissioned through centralisation so for free people such chain will represent a value of zero to their objectives.
Sydney Bright · 4d
I am confused why so many well intentioned people who were trying to help Bitcoin are now leaving to make their own coin. BIP-110 was one possible solution out of many. The network rejecting it simp...
Excommunicado profile picture
Because BIP110 chain split provided the ultimate evidence that the core chain decision making is centralised. Bitcoiners are not interested in yet another system with 3rd party and after what happened on 8 august, you will never get rid of that 3rd party on core chain because the mechanism you had for that removal has been proven removed.
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Sydney Bright · 4d
With all due respect, the analysis that this “proves” all of these things is quite a strong claim. It is, at least, equally as possible that BIP-110 was simply not a good enough of an idea for most of the network to want to adopt it. Just because BIP-110 didn’t pass, doesn’t mean that so...
Tauri | Bitcoin BLAKE2b · 6d
The good and the bad about Bitcoin-BLAKE2b The bad: 1. You lose a large part of the network effect. 2. The price probably takes a massive hit initially — potentially 80–99%. 3. You lose access t...
Excommunicado profile picture
Could exchanges even offer it? All bought bip110 coin would go straight to self custody because of who is buying it and if the price is too low and we start draining their reservers they get exposed for their paper bitcoin practices really quickly.