What if, sitting in the middle of a chaotic monetary environment, increasing capital controls, balkanizing political regimes, a failing petrodollar hegemony, collapsing institutional trust, increased sanctions & weaponized infrastructure, & aggressive, widespread inflation… there sat a global, neutral, decentralized, robust, & incorruptible network to store and transfer value? What would it look like if that…
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No matter how often we cover these ideas, it still seems astonishingly common for new people to fall into the same old fallacies and the same misguided thinking. In this episode I try to cover all the major problems with the “raise the blocksize” mentality, and why its thinking incorrectly about what the system even provides, and most importantly how it provides it.
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“discussion about Taproot activation turned out to be a long and sometimes heated debate. Now, it has resulted in two different Taproot activation paths, embedded in two main software clients that could in some scenarios even become incompatible with one another.” – Aaron Van Wirdum
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“As a consensus system without central authority, Bitcoin protocol upgrades can be challenging. If one segment of the network upgrades to a new version of the protocol before another segment does, different nodes might enforce different rules, introducing the risk that the network fractures between them.” – Aaron Van Wirdum
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“Perhaps one of the great ironies of the future will be the Solcoin alliance between urbane Terrans and hillbilly belters.” – Dhruv Bansal
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“Any solution to the oracle problem, makes Bitcoin able to do anything that any other protocol out there can do.” – Nadav Kohen
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“Taproot will unlock a new range of possibilities for Bitcoin, improving privacy and expanding smart contract possibilities”
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“When compared to gold, real estate, stocks, bonds or “fine art” that act as stores of value for many individuals, bitcoin that is held in a multisig wallet is an obvious step-function improvement in many regards.” – Marty Bent
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