BR021 - Bitcoin Power Dynamics Panel ft. Harry Sudock, Aaron van Wirdum & Adam Gibson
Feb 3 2023 • 2hr 8m
Show Notes
Discussion Topics:
00:02:41 The Mexican stand off conceptualisation of the power dynamics within Bitcoin
00:04:19 Are developers part of the game theory?
00:21:57 The power dynamics involved in changing Bitcoin
00:33:39 The role of prediction markets in determining consensus
00:43:01 Can Bitcoin development be corrupted?
00:46:26 Corruption factors invovled in chain forks
00:53:39 Bitcoin's resistance to change
00:57:12 Bitcoin vs gold and considerations surrounding resistance to human interference
01:03:19 Perspectives on changing Bitcoin
01:04:41 Controversial changes (Tapscript)
01:07:16 What properties of Bitcoin are changeable?
01:15:18 How do you defin the "true" Bitcoin?
01:23:53 Forking as means of achieving market consensus
01:27:14 Politcs and getting buy-in for controversial changes
01:32:40 Why change Bitcoin?
01:34:55 Historic examples of contentious changes
01:38:11 Contextualising developer influence on Bitcoin
01:41:05 Contentious non-consensus changes (RBF)
01:45:12 Game theory involved in conflicts between users and miners
01:55:53 Mitigating against short term incentives with long term risks
01:59:39 Bitcoin: There is no alternative
02:01:55 Off-chain considerations
Links & Contacts:
Website: https://bitcoin.review/Podcast
Twitter: https://twitter.com/bitcoinreviewhq
NVK Twitter: https://twitter.com/nvk
Telegram: https://t.me/BitcoinReviewPod
Email: producer@coinkite.com
Nostr & LN:⚡nvk@nvk.org (not an email!)
Full show notes: https://bitcoin.review/podcast/episode-21/
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@apemithrandir
7,777 sats
Feb 4 2023
I liked how it was disagreements from the start. a very meta representation of the rough consensus approach of bitcoin.
@nvk
Feb 4 2023
pretty much how it felt 😂
@caroleanndanner
4,500 sats
Feb 4 2023
always learning something new is not boring
@btctotoro
1,000 sats
Feb 4 2023
thanks for the technical discussion, i encourage additional discussions that focus on some of the topics brought up in this episode !
@lonerookie
1,000 sats
Feb 6 2023
Love it. I would also love to hear you discuss what I am most worried about can kill Bitcoin: That the security budget can very soon be too low due to the halvings. In 2032 the block reward is only 0.7 and fees come and go. Will that be secure enough? In 2040 its 0.2. Is tail emission needed - and will Bitcoin succeed in introducing it before it is too late? As fees come and go, I think the network should be secure by block rewards. Your thoughts would be interesting!
@finaldenominatr
210 sats
Feb 6 2023
What do you mean there only “5 people” that can sign the original Bitcoin core to implement protocol updates?
@monk_cactus
100 sats
Feb 5 2023
yeeeeeeeeeeee