Oddbean new post about login | logout I really kinda wish we could get the ball rolling on the next soft fork before the ETF. I have a very sneaking suspicion that traditional finance is going to suddenly want to weigh in on changes to #Bitcoin.
Wait until there are professional lobbyists who badger the core devs.
💯 They will be strong advocates for ossification IMO
Isnt etf approval looming like first week of Jan ?
Yeah but if we had a concrete proposal we could move forward on, even if planned for a 2 year activation, I think it heads off their perceived ability to be involved. It makes it something that what happening when they arrived, rather than a change that occurred after they “made bitcoin legitimate.”
What makes you think they have not already ? Saylor outright said Bitcoin needs to not change, to attract the "Adults".
Imagine the Block Size Wars but now the big-blockers have a near unlimited marketing and lobbying budget.
Very irritating how people seem to be handwaving this concern. Economic weight matters, especially if fees go out of control
I understand economic weight, but why high fees make it worse?
The ETFs will increase demand for block space. If fees go up before Bitcoin scales sufficiently enough for plebs to use daily, these large asset managers will be the only ones who can afford to transact on the base layer. While Lightning is a step in the right direction, it isn't enough. We need more L2s
Me too, am not liking this feeling
You care about bitcoin but bitcoin no care about CeFi.