1/9) BTC continues to devolve; Core just implemented full RBF:
An extremely controversial change that adds double-spending TXs into BTC!
The very problem Bitcoin was invented to solve in the first place!
That this is even possible exposes deep centralization in BTC governance:
An extremely controversial change that adds double-spending TXs into BTC!
The very problem Bitcoin was invented to solve in the first place!
That this is even possible exposes deep centralization in BTC governance:
2/9) With the opposition cleared away; Core can now implement the most controversial changes
While still refusing to increase the block size limit due to "controversy"
The hypocrisy is palpable
RBF was only introduced as a consequence of the block size limit causing congestion
While still refusing to increase the block size limit due to "controversy"
The hypocrisy is palpable
RBF was only introduced as a consequence of the block size limit causing congestion
3/9) RBF (Replace By Fee) formalizes double spending into the protocol by natively implementing it
Optional RBF was added during the block-size debates under massive skepticism & contributed to the chain split
The defense & promise at that time was that this was only optional!
Optional RBF was added during the block-size debates under massive skepticism & contributed to the chain split
The defense & promise at that time was that this was only optional!
4/9) Congestion on any blockchain causes TXs to become extremely unreliable
Being able to double spend your TX makes sense as a way to retrieve otherwise "stuck" BTC in the context of a congested network
However, it also severely weakens using BTC as a form of digital cash
Being able to double spend your TX makes sense as a way to retrieve otherwise "stuck" BTC in the context of a congested network
However, it also severely weakens using BTC as a form of digital cash
5/9) Ever since the capture of BTC by a group that has opposing goals to the original vision of Bitcoin
The idea of BTC as digital cash has been steadily eroded; full RBF is just the latest incarnation of this trend
All TXs created by the Core software can now be double-spent!
The idea of BTC as digital cash has been steadily eroded; full RBF is just the latest incarnation of this trend
All TXs created by the Core software can now be double-spent!
6/9) The myth of BTC is that it is an incredibly decentralized meritocracy
That could not be further from the truth;
Bitcoin Core has disproportionate power to make any changes to the protocol & this latest change is proof of that
There is literally a single lead maintainer...
That could not be further from the truth;
Bitcoin Core has disproportionate power to make any changes to the protocol & this latest change is proof of that
There is literally a single lead maintainer...
7/9) Who has the final say over any & all decisions
This is why a diversity of competing client implementations is so essential for true decentralization
BTC lost diversity as a consequence of the block-size debates, were now competing with Core is seen as an "attack on BTC"
This is why a diversity of competing client implementations is so essential for true decentralization
BTC lost diversity as a consequence of the block-size debates, were now competing with Core is seen as an "attack on BTC"
8/9) We should be strengthening BTC's resistance to double-spending, not weakening it!
The truth is that the "rulers" of BTC do not care about the original ethos
Something anyone can verify for themselves by reading Satoshi's & Core's writing on the subject
They are opposites!
The truth is that the "rulers" of BTC do not care about the original ethos
Something anyone can verify for themselves by reading Satoshi's & Core's writing on the subject
They are opposites!
9/9) I did my best to fight for Bitcoin during the blocksize debates, to uphold the original principles
Losing that battle only means that alternatives will now win the war instead of BTC
There is an ideal of Bitcoin governance & reality falls far short:
medium.com/cyber-capital/…
Losing that battle only means that alternatives will now win the war instead of BTC
There is an ideal of Bitcoin governance & reality falls far short:
medium.com/cyber-capital/…
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