Most successful tech protocols (HTTP, SMTP, etc) have featured very very slow development and always developed with backwards compatibility in mind (ie. no hard forks). In some cases the specs have been largely unchanged for decades.
Because of the "money nature" of Bitcoin, there exist a recurrent need to "do something"....all sorts of rationale is given for this, most of which doesn't really have much supporting evidence (ie. we need to scale, we need to protect against qc, we need covenants, etc)
The worst thing for bitcoin would be to keep fiddling with it and trying to "improve it". Busy developers fingers will continue to produce diminishing returns in functionality and increased mental fragmentation. Left unchecked it will eventually undo itself and lead to the active collapse of cohesion of the community.
NONE of above. Only human stupidity can stop bitcoin. But bitcoin do not "fixes this"... people fix things. Bitcoin only open a door. If people do not walk that door, then they will remain dumb and stupid.
Whether bitcoin ossifies or not, and as good as bitcoin is, I think it's likely that another Satoshi comes along in the future and creates 100x better money.
Also great self-custodial MoE UX never materializing. And bitcoin not fending off the usual threats people talk about.
Also, the same it that made it more likely for people aware of bitcoin in 2008 to not buy bitcoin. 100x better things are either not believed to be 100x better initially or aren't initially 100x better.
... In either case, bitcoin wouldn't immediately go to zero, so perhaps it's not proper to call that a threat. The best I can imagine is that bitcoin will behave like gold behaves today - valued, but dated and impractical.
A. Government Regulations/Bans ❌ B. 51% Attack Or Mining Centralization ❌ C. Quantum Computing ❌ D. None - Bitcoin Fixes This ❌ E. Our own retardation ✅
interfaces. bitcoin, like electricity, the internet, email, public utilities, etc is a primitive, a civilizational primitive. it cannot be stopped or threatened. but we dont deal with primitives directly. we access them through interfaces. the only threat to bitcoin is captured interfaces
The compulsive need to "develop" and "change".
Most successful tech protocols (HTTP, SMTP, etc) have featured very very slow development and always developed with backwards compatibility in mind (ie. no hard forks). In some cases the specs have been largely unchanged for decades.
Because of the "money nature" of Bitcoin, there exist a recurrent need to "do something"....all sorts of rationale is given for this, most of which doesn't really have much supporting evidence (ie. we need to scale, we need to protect against qc, we need covenants, etc)
The worst thing for bitcoin would be to keep fiddling with it and trying to "improve it". Busy developers fingers will continue to produce diminishing returns in functionality and increased mental fragmentation. Left unchecked it will eventually undo itself and lead to the active collapse of cohesion of the community.
Other -- internal fracturing
NONE of above.
Only human stupidity can stop bitcoin.
But bitcoin do not "fixes this"... people fix things. Bitcoin only open a door. If people do not walk that door, then they will remain dumb and stupid.
complacency
Manifested how? What consequences are you imagining?
Whether bitcoin ossifies or not, and as good as bitcoin is, I think it's likely that another Satoshi comes along in the future and creates 100x better money.
Also great self-custodial MoE UX never materializing. And bitcoin not fending off the usual threats people talk about.
What makes it more likely that this better money would be its own thing rather than an upgrade to bitcoin?
Complacency.
Also, the same it that made it more likely for people aware of bitcoin in 2008 to not buy bitcoin. 100x better things are either not believed to be 100x better initially or aren't initially 100x better.
... In either case, bitcoin wouldn't immediately go to zero, so perhaps it's not proper to call that a threat. The best I can imagine is that bitcoin will behave like gold behaves today - valued, but dated and impractical.
complacency = statism
A. Government Regulations/Bans ❌
B. 51% Attack Or Mining Centralization ❌
C. Quantum Computing ❌
D. None - Bitcoin Fixes This ❌
E. Our own retardation ✅
interfaces. bitcoin, like electricity, the internet, email, public utilities, etc is a primitive, a civilizational primitive. it cannot be stopped or threatened. but we dont deal with primitives directly. we access them through interfaces. the only threat to bitcoin is captured interfaces
Nobody using it to break the law.