I dont have much time to write my ideas down, but everyone once in awhile something eats at my brain that j cant stop thinking about it until i write it out. Heres a little thing i wrote, tell me whats wrong with it, what you hate, what you like.. 👇👇👇👇
https://satoshisjournal.com/bitcoin-and-the-colonial-trade-embargo/
I enjoyed this! The American history bit might be hard for those who don't know what happened after the tax acts to understand, wouldn't mind further expanding on it -- it was interesting
I do appreciate the reminder that Bitcoin as a movement is what we make of it. 😎
"Doing nothing" will always seem attractive to "putting in the work". Lots more to do in Bitcoin, and we're nowhere close to be at a point where "doing nothing" is acceptable, onward
Appreciate it fren. Thanks for your finite time taking to read it. Maybe one day i can start carving out more time to write more.
Thanks for sharing.
Interesting parallel you draw between, essentially, the economics of the British Crown's rule over the American colonies and the economics of Ordinals and similar non-currency layers grafted onto Bitcoin.
The Crown had high and essentially fixed costs that made it brittle in the face of an imperfect economic boycott.
I don't know much about the market for Ordinals, but I doubt it is remotely as vulnerable from a cost point of view.
Boycotts of Ordinals would drive up their costs only minimally as long as a small but meaningful percentage of hashing power does not participate in the boycott.
A boycott might more easily add considerable uncertainty to their settlement time, however, since it is essentially impossible to predict when a (presumably minority) Ordinal-friendly pool will find the next block.
Thanks for the feedback but I think that a lot of the inscription hype has been generated by a small VC group of funders so if this is true and it isn't a long time Organically grown interest then the economics of it are as brittle as siphoning the VC money from the funders that would stop it altogether
