Oddbean new post about login | logout The problem that saylor & maddireidy missed here is not 6102, he is correct on that. The issue is large holder choosing which fork to follow. Say Coinbase held 25% of the supply & decided to follow 20Gb/block fork, that would pose a huge problem. Could make MSTR go to zero in a way the tradfi shorter or Gov capture never could. 😬 nostr:note1qcgnv47he380ug4z79epnd3v7cnwaxteghkl6usthezk748afg8s4cgua7
Does Coinbase run 25% of the miners and nodes? Who cares how much they own.
He's covering for us to the 3letters
Let’s hope so…
cope he seeks regulatory capture to protect his fiat purchasing power
He owns 10k Bitcoin personally
so he's heavily incentivized to do so
They can regulate as much as they want bro who cares
the people who have their freedom restricted care obviously
We cannot give freedom to others. We can share the message but they must make their own choices and free themselves.
we CAN push back on regulatory creep and be intolerant of those who promote it.
So, they only failed in 2017 because they didn’t have 25% of the supply? Idk about that The company itself doesn’t own much if any bitcoin on the balance sheet. I don’t see the incentive either, they do pretty well with their current business model operating a shitcoin casino
why zero? they will double the amount of bitcoin as well as all of us
I don't think that's an issue. Miners would have to follow as well. Coinbase could go fork themselves all they want but even with large custodial holdings they wouldn't have the mind share necessary to make others follow. To me, people are just upset because he talked rudely about crypto anarchists and went on a weird tangent about selling hardware wallets through fear. Nothing burger.
If 25% of the supply was willing to dumb on the other fork would absolutely mater. Aside from this being a simplistic example with ooma numbers.
Even if it was 90% supply I still don't think it would ultimately succeed. Bitcoin is an idea that we should follow an agreed upon set of rules and enforce them with computers. If you change Bitcoin it's not Bitcoin, and any breaking change like huge blocks or increased supply would self destruct even if it could achieve a higher market cap for a while. Maybe I'm being naive/optimistic though.
If Bitcoin forks like this we'll all get so rich dumping those shitcoins to the suits
Will we though? Or will we become like BSV or BCH
WE WILL NOT BECAUSE WE RUN THE NODES YOU CANNOT DECENTEALIZE THE 20GB BLOCK NODES
A node is only influential to the extent that bitcoin transactions occur through it. If the mining remains centralized and most node usage occurs through the minors nodes, you can imagine the problem.
Blackrock, Fidelity, Coinbase, Microstrategy, etc… these are all the same heads of a corporate hydra.
First thing I thought when he made the disagreeable comments about hardware wallets was what’s his incentive? Oh yeah didn’t he talk about a long term goal of becoming a bitcoin bank? Makes sense. My second thought was thank god for NVK and the Coldcard
I was never on the Saylor wagon but lately, after his appearance on The Bitcoin Standard, and now this…
Takes a few cycles for people to understand bitcoin, it's not a simple system. And the rough is rough consensus is very rough 😅
Saylor needs one more cycle I guess
Very true
He isn’t correct on 6102. They brought in the gold under threat of $10k fine or/and 10 years in prison.
Those greedy hardware wallet salesman!
Replace Coinbase with US government. It’s them holding 2M #bitcoin
Monero fixes this 😂
No😂
He isn't correct about 6102 because the banks already controlled the gold when they moved to Fiat. I'm sure some people involved in the Gold Trade got screwed, but essentially the same group of elite stayed in power. You're talking about displacing that elite with a new technology and you don't think that they're going to respond violently?
25% of supply is > 5M bitcoin. Possible? Maybe. As for Saylor, he has to be acting this. I don't believe he is genuine. And it is triggering the reactions necessary to wake us all up! How to live in a world without finance laws? What can you trust? nostr:nevent1qvzqqqqqqypzp6y2dy0f3kvc0jty2gwl7cqztas8qqmc5jrerqxuhw622qnc2pq3qyd8wumn8ghj7ur4wfshv6tyvyhxummnw3ezumrpdejz7qghwaehxw309aex2mrp0yhxummn9eek7cmfv9kz7qpqukh8tfgstj5ga6vfmd8tmvcfwkfvj2grn6xy46yfmh837xtladwq6t2gmx
Just use his bitcoin bank like good little lemmings 🤣
Why are large holders making decisions about a fork? Nodes and miners typically make these decisions together. For example, if a company holds 50% of all Bitcoin, but doesn’t transfer them on the mainchain. Miners would have no incentive to support that chain, or follow the company’s opinion/ideas. Miners follow the chain that offers the most fees, and the chain with the most individual users would likely generate the highest fees together. Or am I missing something?
