Monarx 's avatar
Monarx 1 week ago
As much as I hate it, I really need @Jeff Booth's thoughts on what happened and the current state of Bitcoin. I wish I could be confident and satisfied with my own views, but alas Booth’s perspective is just more of a signal than any other’s.

Replies (6)

IMHO Bitcoin is fine. Just the free market learning what works and what doesn’t which will drive more resilience. A small battle (which feels like everything to some) in the long war for sound money. Lots going on in background with many Bitcoiners who also view bitcoin as money unconvinced that this was the right path (or time)
ZLogic's avatar
ZLogic 1 week ago
Why would you trust that they also view Bitcoin as money considering their proximity with Howard lutnick class Fiat connoisseurs?
Core pushes v30 without any community support - an update that is against the basic Bitcoin protocol security - implemented. 20% of the community pushes for an update to roll it back, with another 50% on old core version never supporting v30 - denied. How is this fine?
Also the comment free market learning what works makes no sense. Because the market for this software - Core/Knots and its specifix attributes are nodes. Nodes are the market for this software and the majority do not approve of this.
To sum it up. Node runners are in the market for software to help them relay information on Bitcoin network. A handful of Bitcoin Core devs offer the market a software that goes against basic security protol. Another software Knots offers an option that honours a good security feature. 30% of the network upgrades to core v30+. 20% stands up to it and 50% sticks to status quo which mean small opreturn. The market has spoken. 70% wants the software with small opreturn. Then a handful of people in control of miners decides that 30%(prob inflated number) is what will be used. Is this a wish of the free market or has the decision been centrally decided and pushed onto the rest of the ecosystem? How is this decentralised money? How is this fine?
Desert Dave's avatar
Desert Dave 1 week ago
The split is still splitting and moving. It's not over.