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110 sats \ 4 replies \ @justin_shocknet 22h \ parent \ on: Sunday Survey: Was Taproot a good thing for Bitcoin? bitcoin
Everything is good for Bitcoin in the context of learning and failing forward... perhaps the question then isn't optimally worded. Was it a failure or a triumph?
"It's bad but could have been worse and now we know should know better" is just a positive interpretation of failure.
Was it a failure or a triumph?
Depends on what you mean by it.
I think that the activation was a failure, not as in fail to activate but the implementation - in Core - clearly had unintended side effects, so it was activated too soon.
For the feature itself, it's only a failure if someone other than me spends my p2tr coin due to a bug or cryptographic weakness, so that's too soon to tell. For example, if the quantum doomers are right and this turned out to be the last protocol enhancement, then it could become a failure in the future, but I'm not particularly worried about this right now.
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Activated too soon AND still no compelling use-case or adoption... that's a failure along the same axis
The the proof-of-vulnerability is that it was activated at all... The one covenants are now attempting to exploit
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I'm not a fan of the speedy trial thing, if that's what you mean with vulnerability. It puts pressure on people to make a decision quickly and that's not what Bitcoin imho should be about. Slow and steady - there was no need to rush, and it would have been totally fine if it would have activated later without rush.
I wonder though: will mining pools champion L1 purity? I don't really expect them to.
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More the general mind virus imo but yea speedy trial is part of that
Yea miners are not a last line of defense, if anything they're more of a liability, high time preference can easily manifest itself there due to the economics. Stupidity is a given, Bitcoin only works because an overwhelming majority of them have to be stupid all at the same time to fuck it up.
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