Oddbean new post about | logout
▲ ▼
matt | 6 months ago (raw) | root | parent | reply | flag +4 
 Bitcoiners need to wake up. Things are not going great for Orange Coin, at least if you care about more than price.
▲ ▼
NVK | 6 months ago (raw) | root | parent | reply | flag +2 
 NgU is the most important defense mechanism.
▲ ▼
matt | 6 months ago (raw) | root | parent | reply | flag +4 
 And yet it hasn’t fixed mining centralization in a decade?
▲ ▼
NVK | 6 months ago (raw) | root | parent | reply | flag +1 
 Maybe this is as good as it gets.
▲ ▼
matt | 6 months ago (raw) | root | parent | reply | flag +3 
 Then I’m definitely done caring about bitcoin. I mean sure some people just want the 21M cap and they’ll be happy, but those of us who wanted to be able to send value to others without being censorable….
▲ ▼
NVK | 6 months ago (raw) | root | parent | reply | flag +5 
 I'm sending value without censorship and care about the cap.

¯\_(ツ)_/¯
▲ ▼
matt | 6 months ago (raw) | root | parent | reply | flag +4 
 I don’t buy for a second you’ll be able to do that in the long term if we don’t fix these issues. Sure the massive problems we have now aren’t materially trickling down to breaking the system yet, but are we building a Bitcoin for today or a Bitcoin for a decade or two from now?
▲ ▼
AzHodl | 6 months ago (raw) | root | parent | reply | flag 
 From block size wars to fiat whores.
▲ ▼
rossbates | 6 months ago (raw) | root | parent | reply | flag 
 There is no such thing as untrusted.
▲ ▼
NVK | 6 months ago (raw) | root | parent | reply | flag +2 
 That crosses the line into bitcoin-alarmism.
▲ ▼
matt | 6 months ago (raw) | root | parent | reply | flag +3 
 Why
▲ ▼
NVK | 6 months ago (raw) | root | parent | reply | flag +2 
 It's all extremely extrapolated.
▲ ▼
matt | 6 months ago (raw) | root | parent | reply | flag +2 
 What assumption that I made is unrealistic, or even not-highly-likely? I mean centralized parties are already declining to offer services for non custodial use (see Phoenix).
▲ ▼
Leurico8 | 6 months ago (raw) | root | parent | reply | flag 
 I think enterprise AI will demand so much power the bitcoin mining will become less comercial and centralized abd more purpose driven and decentrized.
▲ ▼
High Heel King | 6 months ago (raw) | root | parent | reply | flag 
 Humans aren't good at fixing problems that aren't currently affecting them. 

How many Bitcoin holders still have fiat in their bank account, despite the risk of censorship and confiscation? How many people have poor UTXO management because fees are still relatively low?
▲ ▼
Leurico8 | 6 months ago (raw) | root | parent | reply | flag 
 If bitcoin price keeps appreciating bitcoiners will have more and more economical power. Miners sell bitcoin in their business model. Self interested hodlers with their node ans bitcoin will become more economically relevant then miners. This can potentially shift the power balance.
▲ ▼
cypherpunk | 6 months ago (raw) | root | parent | reply | flag 
 Agree 100% ... but the newb's don't  give a fuck about preserving what we're already built ... Anything to 'get rich' (in dollar terms; they learned nothing).