Oddbean new post about login | logout I'm quite bullish on Bitcoin scaling tech and privacy tech. Fee spikes are incentives to build more scaling solutions and to use the ones that have been built. Without fee spikes or the mindfulness that fee spikes can materialize at any time, there is no significant demand to build them or use them. It's painful when it happens but it's necessary to grow. And stress tests help ensure that you are building the tech correctly rather than relying on shortcuts that only work temporarily. Same thing for privacy solutions. Privacy tech has to be like a hydra; if one head gets cut off then it grows more. Privacy solutions behind every blade of grass.
The scarcity of block space as a valuable commodity and how valuable it is to many in this market. It will generate a wide variety of ventures to incentivize or create new tools
Yours systematic engineer
Scaling and privacy are the two missing tech capabilities for #Bitcoin to be more widely used as a medium of exchange. Fees have been spiking during every cycle but Iām not seeing a lot of willingness to scale Bitcoin. For privacy tech, Iām afraid it will remain a niche theme for a while still but at least the current events shows that privacy tech has to be as decentralized as possible. Interestingly, I think #drivechains may be the most interesting option to handle both scaling and privacy but it seems to have received very little support from the plebs. At some point, the plebs is going to have to wake-up if they want to make Bitcoin more resilient to adversarial attacks.
Back in the old days, people only had Bitcoin QT to transact... much has improved in regards to scaling technology and privacy š“
BULLISH
https://youtu.be/5f9s7HibZj8?si=clx4MKlzFOsyXh28 this guy makes many interesting points about why #Bitcoin may have problems and I'm not qualified to dispute some of the things he says love to hear your input
RE: privacy, "Let a thousand nodes bloom." Bitcoin and Lightning were *designed* for this fight, centralized implementations have been an efficient way to popularize and bootstrap the network, but expect something like the transition from Napster to Bittorrent going forward.
Which privacy solutions do you see?
