131 sats \ 0 replies \ @freetx 29 Feb \ on: The Pursuit of Happiness in a Bitcoin Era - Thriller post bitcoin
https://m.stacker.news/18051
As I've stated elsewhere, I'm somewhere between a Ossificationist and a Conservative.
I think every Bitcoiner needs to ask themselves: What non-negotiable properties do I most value in bitcoin?
We must realize that no new development comes "for free", there are tradeoffs of everything. Even for developments that pose no inherent technical flaws, there exist lots of potential risk....namely that it can shift the incentives and focus against those "non-negotiable properties".
I think we should resist the urge to make Bitcoin a solution to every problem. We should think of this with the "unix approach": Do one thing and do it well and pipe those tools together.
So Bitcoin should be base-money, immutable and secure store of value....and most of the other features should be pushed off to other (competing) layers.
As a quick example. Adding zk-rollups to basechain. Its an exciting prospect to add such privacy features to the mainchain...however are you prepared to negotiate on the outcomes of that? Suddenly the total known supply of bitcoin becomes opaque and amounts that are locked in zk-rollups are no longer able to be easily counted? Is there an inflation bug? who knows?
Its far better to push those privacy features to other layers / chains and keep the base layer of bitcoin transparent and auditable.