I’d have been there but I have to testify as an expert witness Monday :(
Exactly. And if there are no users running nodes to object, rule changes happen without a fork.
The real question is “why is it not possible?”
The answer is NOT “because it’s hard coded every 210,000 blocks.”
No. Not even close. The real answer is “Because I say so…and I can say so because I run my own node…and my wallet connects to my node and I will not accept payment that doesn’t follow all the rules.”
Back then, neither miners nor businesses thought users had any role. Devs knew better. Most devs at least.
First slashdotting. July 2010. Mined for a week with my laptop cpu…back when that worked. Managed to not sell all but definitely sold way too much. Donated some and helped with a foundation that subsequently folded.
I’ve always bought small amounts every month since coinbase became a thing. Those $20 buys in 2013 really mean something today. Started buying for real in March/April 2019 after plan b released his model.
While I no longer thing plan b model is best, it’s still useful. Very useful. But for long term planning I believe power law model more likely to be true on average. Much less optimistic but also not exponential…exponential models always must fail eventually. Power law models don’t _have_ to fail ever. But even this model will fail someday. My guess is 10-15 years.
My advice: learn self custody well. Practice it. Get a coldcard from @nvk and practice seed creation, backup, delete, restore and wallet creation…and stack hard enough to have no regrets…this means don’t become a forced seller. And don’t leave too much on the table.
Super excited to get my coldcard q soon (probably)!
Hoping I can show it off at the halving party next week…if it ships soon enough.
@nvk y’all knocked it out of the park with this one. People need to know the Q and understand the security model.
They keep selling bitcoin because they like seeing the price at $69,420.
Yeah: instead of reducing the block reward, they just keep it the same. Maybe we’d be on 12.5 bitcoins per block still had the battle gone their other way.
I’m an OG but lightning is not my forté. Payment failed and I did it again immediately and it seemed to work…weird.
Best short summary of the BS wars.
I was on the wrong side of this debate until Satoshi Roundtable in Mexico where I got to speak to some genuinely smart well known people.
My initial perspective was “don’t rock the boat, keep bumping default size limits in bitcoin.conf — which had been done for many years already— rather than mess up the small bitcoin economy.
But what I learned at SR was elegant and simple. If filling up blocks kills bitcoin, then bitcoin is dead because that is the ultimate requirement for security in the future. Filling up blocks will either create conditions for better/wiser/more efficient use of block space or we shall see how valuable bitcoin is when security must be paid for as ultimately intended (fees not inflation).
I see now what most small blockers were asking for was a continued hand out to keep their businesses profitable. If they got big blocks I guarantee you miners would get to skip a halving down the road.
I, like many others, didn’t understand the importance of running my own node…I did it to help others download the chain, but that was unnecessary by 2016. The real reason to run a node is to serve as a rule checker and enforce monetary policy and all block rules to protect censorship resistance. Otherwise anyone who can benefit from violating rules will violate the rules.
You not being poor means rich people are less rich.
When they find out bitcoin did this, they will wage illegal lawfare against bitcoin. And they can buy a lot of lawfare with their cuckbucks.
Satoshi said he was Dan. And we are all satoshi. So, by transitivity…
We are all Dan.
Minor revelation: have some awesome wallet feature that requires a bitcoin soft fork? Implement it. If someone mines a block incompatible with your soft fork, those coins merely disappear from your fork. This puts the onus on coin holders to make sure their transactions get mined by a miner willing to honor the soft fork.
80085, the funniest number ever. It’s on my icon on my desktop for the calculator app…been there a long time. But only today did I realized that 8=B, 0=O, and 5=S.
Always seemed rather random, but now I see it’s a large part of the reason males exist, or at least desire to continue existing.
I like it.
I drive shitty vehicles and wear shitty clothes. I stack sats because it’s so obvious…I’m raising kids who don’t care about bullshit commercialism. But I’m not sure what is supposed to happen next. I never thought I’d get here.
Gotta buy a protege. Need to find the right balance between brilliance and work ethic, interest and aptitude. I’m hopeful our new guy in July will be ripe for passing the buck to. But it’ll be a few years before I know. Last two new guys were not compatible with the nuances of what I do.
Amen…never forget: the medical pharmaceutical complex is roughly 3x bigger than the military industrial complex. I will never believe this hasn’t corrupted more of medicine than just the jabs.
What moron mandated collection of this data to begin with?
Exactly. I’m too young to have thought well about what to do with this tool.