Brilliant interview.
I hope lots of people continue to watch it and become aware of the concerns and points raised.
Thanks for sharing.
The point about our brains being designed for low energy consumption by vs. AI having access to huge amounts of it power and the ability to devour endless amounts of information, way beyond what a human could can do is a real eye opener.
My hands are not big enough.
What does macro really mean?
What worries me is such an attack can be mounted as will with enough backing by individuals or anti-Bitcoin entities.
#[4] #[5] yours thoughts would be great.
Hey, nostr:npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe, what is your assessment on the current DDoS attack on #Bitcoin through Ordinals and Inscriptions? Can you help us plebs navigate through the second and third order consequences of it? Or do you see it as more of the "everything is good for #Bitcoin" phenomenon?
I understand that, as an immediate consequence, it will make mining more profitable, attracting more hashrate and raising the difficulty level, thus making the network more secure for everyone, which is good.
Higher fees also estimulate the use and development of 2nd and 3rd layers, which is also good (although making settlementon the first layer more expensive, at least temporarily).
This situation also siphon value from jpeg traders to miners, until the former eventually run out of sats, disproving this use case of the main network, which also seems to be a good thing.
That said, do you believe that "the market can remain irrational" for too long, posing a real threat to #Bitcoin?
Great summary.
What I would love to understand is why an anti-Bitcoin entity such as say JP Morgan with very deep pockets could not fund such an attack at will to disrupt Bitcoin whenever they desire?
Feels like Lightning could take some of load off Bitcoin but it’s feels like Bitcoin should be strengthened to protect against this kind of attack.
What worries me is that it can be easily instigated again by those with deep pockets.
I would love to hear why that would not be the case.
#[3] could you please chime in 🙏🏽.
Paula it would be great to understand this properly from someone like Jimmy.
I wonder how market forces would address this if the attacker has access to endless fiat.
Jimmy, could you please help me understand what would stop anti-Bitcoin entities such as JP Morgan and even countries from funding attacking Bitcoin by flooding the mempool as we see now?
They have unlimited fiat to do so.
A thought provoking and very interesting perspective on the power of Bitcoin.
https://twitter.com/jasonplowery/status/1654870113105870854
@jado