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30 sats \ 0 replies \ @jgbtc 18 Jul \ on: What Is Bitcoin Ossification & Is It a Good or a Bad Thing? bitcoin
Ossification happens when most users reject whatever changes are being made/proposed. It's inevitable that this will happen more over time.
Academics like Selgin have been wrong about Bitcoin every step of the way. His opinion on it is meaningless at this point.
Every shitcoiner loves to talk about "multiple use cases existing together". There's only one use case I care about and that is money. I'm not interested in facilitating other use cases.
With each new development in this drama, I'm more convinced that Luke/Mechanic/Knots are the good guys and Core, especially Todd, are the bad guys. Happy to be running Knots.
Not to mention literally everything will be affected, not just bitcoin. It's interesting that Bitcoin gets so much attention on this topic when it's probably the technology that deserves the least.
It's been Myanmar since 1989. How long do we need to add (formally Burma). I think after 36 years no one is confused by that.
This is a great idea and it says a lot that the security budget fudders don't just do this. They can do this right now with time lock scripts but instead they want others to bear the burden (typically there's some anti-hodler sentiment involved) so they (e.g. Peter Todd ) want to remove the 21M cap instead.
If out-of-band payments are so lucrative, miners will come up with creative new reasons for them. The end result of this will be a spam free-for-all and probably increased payments via "alternate communication channels". Unintended consequences are the biggest threat.
I'll never understand why a rag like The Economist can be consistently wrong about something for so long, costing its readers significant loss in purchasing power, and yet people keep coming back for more. There seems to be no limit to how much bad advice people will take.
You made the argument above. You said it's not fair that some miners benefit from high fees from out of band transactions, i.e. the spam transactions that exceed the op_return limit.
"At this point, it seems better to make these transactions available to all miners, so at least the miners benefit fairly from the additionally available fees..."