Oddbean new post about login | logout Mate, do you know how much Bitcoin mining capacity is installed world-wide? Some figure like "10 gigawatts" is abstract, try to picture this in terms of car factories. So far, the subsidy was miners' main source of revenue, with validation fees being an aside. With dwindling subsidies miners will have to make up the difference in fees to maintain the value of their investment. But there's only so much room there as no one is willing to spend $1000 of Bitcoin fees to transfer $100 worth of Bitcoin value, not even the drug dealers. It's better for the community to come to terms with the inevitable future now ahead of time while there's still room to experiment. As for the rules about competing forks and heaviest blocks, the community can decide whatever. In the real world, a majority of people coming together an collectively deciding on something is considered a win and a sign of a stable society. Somehow just in the twisted logic of the Bitcoin space a 51% consensus is somehow considered a threat. https://nostrcheck.me/media/47be0b2a89faaa66bc57f5c679203486da45660295cb3db3c2f38f4be8d8816e/227251e524ad3a330063e91865cdcab56789fecb93a7b8c92f205b690b59550a.webp
haha, the final boss of big blockers is human psychology, sorry but that's gonna be a no from me, i certainly won't run a bitcoin node with an altered reward schedule, neither will at least another 15k node runners out there, and many of those are pool miners and the pools will make blocks with the schedule and the heaviest block wins will ensure that until you can find a way to double that hash rate capacity at the same time as putting it in the hands of big blockers, will you succeed why do you think that craig wright is trying a social/government attack anyway? because he knows, being a reasonably competent computer scientist, and game theorist, that you can't win without a massive economic advantage against the established customs maybe some day you will come to understand the low time preference benefits of not ratting out your competitor in a prisoner's dilemma
