Post AD7rr2sJOWvb1eJMwK by gchaincl@mastodon.social
(DIR) More posts by gchaincl@mastodon.social
(DIR) Post #AD5zhQ92QyE7cJ8XdQ by lukedashjr@bitcoinhackers.org
2021-11-05T16:04:57Z
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Bitcoiners should be careful not to let the failure of inflationary fiat result in #Bitcoin turning into nothing more than a new, non-inflationary* fiat.This is a risk as people who don't necessarily care about decentralisation flock to Bitcoin for safety.* for now (nothing prevents a non-inflationary fiat from adding inflation later)
(DIR) Post #AD60YBZNM3rhlDcGJc by skells@qoto.org
2021-11-05T16:14:29Z
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@lukedashjr what does this look like, practically speaking, for non-devs?selling all forked coins seems like a good first line of defense
(DIR) Post #AD61iPrHBUvuvUQmv2 by lukedashjr@bitcoinhackers.org
2021-11-05T16:27:33Z
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@skells To differentiate between "real" bitcoins and "forked coins", you need a full node of your own.A risk of decentralised networks, is that they're vulnerable to takeover by centralised actors if too much of the economy trusts those centralised entities to verify their transactions.A minority selling forked coins won't likely be enough to prevent that.
(DIR) Post #AD64lK4hRYjhiimssK by skells@qoto.org
2021-11-05T17:01:42Z
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@lukedashjr depends on the stacks of the minoritybut I see your point, thanks
(DIR) Post #AD65gpGg8lZwyEoHzc by gchaincl@mastodon.social
2021-11-05T17:12:04Z
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@lukedashjr @skells same applies for ppl holding btc on exchanges?
(DIR) Post #AD66Fhy1HEs0SjiQi0 by lukedashjr@bitcoinhackers.org
2021-11-05T17:18:22Z
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@gchaincl @skells It's the same thing as not using a full node, yes.
(DIR) Post #AD66IKNTRFUMAas2sK by lukedashjr@bitcoinhackers.org
2021-11-05T17:18:53Z
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@skells Yes, minority/majority is weighed by economic influence (not just stack size)
(DIR) Post #AD66UB5pmf6QqjGpvM by skells@qoto.org
2021-11-05T17:21:01Z
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@lukedashjr good point
(DIR) Post #AD6Bm5n0jzN1NrpNjc by skells@qoto.org
2021-11-05T18:19:07Z
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@lukedashjr hypothesis:as long as a large enough segment of the population refused to accept forked coins, people would be getting burned by accepting them.people would spend their forked coins as fast as possible (like counterfeit cash) and get wise about how they accepted coins in the future."bad money drives out good" but it's very easy to identify bad with a node, so you'd quickly train people to check their changequestions are:1) what percentage of "intransigent minority" is required to effect this?2) what are the incentives for inflationary cash and who are most tempted by them?my sense is that most people would prefer to hold the real McCoy even if they tawked otherwise
(DIR) Post #AD7rr2sJOWvb1eJMwK by gchaincl@mastodon.social
2021-11-06T13:46:27Z
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@lukedashjr @skells Agree
(DIR) Post #AD7sFGwUkAjhbZouzQ by gchaincl@mastodon.social
2021-11-06T13:50:52Z
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@lukedashjr @skells Agreed
(DIR) Post #ADC4yAa2Pq1pG8dXWq by RealFake@bitcoinhackers.org
2021-11-08T14:32:17Z
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@lukedashjr I have wondered about this. How could it be prevented? Also, I remember hearing the suggestion that unmoved coins of a certain age be considered for distribution to miners after block subsidy ends, and that sounds like it could be a social attack vector when combined with certain surveillance mechanisms
(DIR) Post #ADCBDkJaR94g9nki5Q by lukedashjr@bitcoinhackers.org
2021-11-08T15:42:20Z
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@RealFake Insist new bitcoiners use their own full nodes.
(DIR) Post #ADCBMl8wj5i9Kg4bbs by RealFake@bitcoinhackers.org
2021-11-08T15:43:58Z
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@lukedashjr ah. so, that's a consensus defense. but what about a change to the software?
(DIR) Post #ADCBREHiJyJSs5J1EW by lukedashjr@bitcoinhackers.org
2021-11-08T15:44:46Z
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@RealFake There may or may not be hardforks that could make it difficult to run a light wallet, but I'm not sure the community is open to that.
(DIR) Post #ADCCMWhkVbfuVQnxxI by RealFake@bitcoinhackers.org
2021-11-08T15:55:08Z
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@lukedashjr appreciate the perspective. thx