Nostr Web Client

The Bitcoin community is currently divided over 'inscriptions', marking the most significant split since the block size wars of years past.

This division carries weight because Bitcoin's value is fundamentally rooted in the collective agreement of its participants.

The Bitcoin token itself doesn't possess inherent tangible value - it's simply a digitized number in a ledger. Its value is derived from the social layer, the shared agreement among users that this token holds value.

Bitcoin's economic viability rests on this social consensus. The software of Bitcoin, with its mutually agreed-upon rules, automates this social contract. When the software and social layers synchronize, the network thrives.

Without this social consensus, any deviation merely leads to self-eviction from the network. Forking Bitcoin is akin to a constitutional amendment — it demands convincing a significant number of people that the new ruleset will better serve their interests. No small feat.

Convincing some people of your amendment while failing to persuade others can result in a hard-fork. While some Bitcoiners view this as an opportunity to increase their share of the "real Bitcoin" by selling the opposing fork, it's important to take a broader perspective.

A community split extends beyond the creation of a new token or blockchain. It fragments our collective power, the very power that has catapulted Bitcoin from obscurity to a globally recognized alternative to fiat currency.

It's often overlooked that Bitcoiners find common ground on the most critical issues.

We are united in our belief in a decentralized, censorship-resistant, P2P currency that operates free from the influence of central banks and governments

Many people are capable of contributing to this mission, and we're better off collectively working together than ostracizing people to leave the network.

Ultimately it's a good thing for everyone if they can 'have fun' using Bitcoin. Even if they used to play with altcoins

Yes, using the main chain comes with a high cost, and we know it's going to get more expensive following hyperbitcoinization.

This challenge is what can and will push more people onto layer twos.

Good. It's time to work on lightning ⚡️

Reply to this note

Please Login to reply.

Discussion

₿TC Fiend 2y ago

I don't think there's much division. Just a small rush of butthole loud mouth scammers that have allowed themselves a window to be able to sneak in through the cracks like the cockroaches that they are.

Vast majority of Bitcoiners realize all of this is a load of bullshit.

Saidah - Ask a Bitcoiner 21 Questions 2y ago

Well said 😂

Brisket 2y ago

I've not heard the latest fork talk apart from Ivan the scammer talking about a block size increase.

I dismissed it as ridiculous. Go ahead and fork it retards, that fork will die because the block size wars have proved it's stupid.

I'm opposed to ZK Rollups because it requires Covenants & I believe we can scale Bitcoin without either. Again, I can't stop it but I can choose what software my node runs & I don't need to validate their shit.

You can't stop people from forking Bitcoin.

Bitcoin will be forked. It's why I run a node & part of why I control my UTxOs.

Call me what you want, but this stuff is too important to be dicking around with on the base layer. I don't think I'm alone or even a minority.

Be suspicious of those who want to 'fix' Bitcoin.

BitcoinSandy 2y ago

Fork talk ? Oh Jeez here we go again. Bad move !

Brisket 2y ago

I know right?

Can't we skip straight to the halving being priced in?

hh 2y ago

I haven't stacked enough sats yet! Let's hold on for a minute, eh?

Brisket 2y ago

It's alright bro, markets are efficient.

30k forever 😂

StackSats.IO 2y ago

There is no serious talk of a fork and if there was, I wouldn’t be even slightly concerned at a rehashing of block wars for ordinals, that has zero chance of being the catalyst for change.

Best to run your own node for that reason though, it’s voting on Bitcoin’s future by participating in its consensus.

₿ramanga⚡☦ 2y ago

I agree there is more talk, but disagree on division. I have seen nothing particularly vitriolic.

Bitcoin is an asset, not a token, and does indeed have intrinsic value (e.g. Proof of Work). Bitcoiners understand this.

Best case, inscriptions find a real use and people stop spamming monkey jpegs after burning billions of their own sats.

Worst case scenario, there's another contentious fork that purges more shitcoiners from the main chain. Painful, but ultimately necessary.