I'm pushing back against the argument that we should accept that the Bitcoin protocol is ossified in its current state. https://www.forbes.com/sites/digital-assets/2023/03/18/should-we-be-worried-about-bitcoin-ossification/
Discussion
#[2] Bitcoin can change, and it's still Bitcoin. I'm not as good with words as Jameson.
Never said it couldn’t. Bitcoin has changed many times already.
We were talking about monetary policy, and I said it was very important that it never changes. Once changed, who’s to say it can’t change again?
Yeah. Anything can be changed. Perhaps that's the argument for ossification. If the monetary policy was inflationary, I'd certainly be barking for change.
However, I can see how admitting that the monetary policy is up for debate, which it really isn't from a cultural standpoint, would be proplematic.
As much as the IP (Internet Protocol), sadly, few will understand.
Being so early in Bitcoin as with any other tech that succeeded or will succeed requires not only vision but lots of patience, clearly, use case appealing and the subsequent mass adoption matters, but understanding the potential is what makes us early adopters, and slowly but surely, most great products after 10 years of market age, have the tendency to survive and thrive (despite being centralized nightmares filled with drama and greed), Bitcoin passed that threshold a few years ago...
Bitcoin is quite unique, a beast of its own, hard to destroy and every day, more appealing
Fix the Money, fix the world
#Bitcoin
#BTC
#Nostr
#LN
#LightingNetwork
#TrueMoney
Just because we don't want BIP-9 doesn't mean its ossified
I agree, I think we should be looking it things like Op_CTV and Op_Vault. Safe small improvements. I am not technical enough to understand the risks with these two, but Iwoyuld love to see more debates/discussion on the topic.
IMO, OP_Vault could be the protocol change that brings on more governments and institutions.
Yeah, I think its naive to think that the current self custody solutions will make people feel safe enough. I would love to see the improvements that Op_Vault can bring to self custody brought to Bitcoin.
IMHO 🙏 we won't escape the endless debate about the risk associated with change until we can formally express the contract of the Bitcoin protocol. I've had many conversations about this, and the prevailing opinion seems to be "the only contract is Satoshi's code". I'm not satisfied with that. It's hard, thankless work, but it's worth it to define the "spec". Once we have the definition, we can evaluate whether or not a change is "breaking" or "non-breaking". I won't pretend to have the answers, but this is often how API's are managed outside of the digital currency protocol space, and it's a successful approach in my experience.
That's the feature no-coiners can't wrap their heads around.
Bitcoiners should take a hard look at the risks that come with letting Bitcoin ossify
When they hear about a change being made, it triggers worries that funds may be put at risk. The only way to counter this is through good education for the community
#GoToBitDevs
#[0]
If Bitcoin ossified now, what would self-custody look like in a hyperbitcoinized world? Would it even be an option for all users?
Not great. It's currently too cumbersome to distribute a billion UTXOs to individuals.
I agree and find it slightly unsettling. Bitcoiners love to preach "not your keys, not your coins" and rightfully so, the ability to self-custody is liberating.
But what about users that adopt Bitcoin later on on the adoption curve? Do they not get the same digital property rights as early users?
I'm not very technical but would gladly support development on projects thinking about this problem. Any recommendations?
It is also impossible to open billions of Lightning channels. How can we offer self-custody to everybody who wants to self-custody?
I'm with you. Lets fight the ossification.