BIP 110, Miner Centralisation and Node Is Law - Renaud Cuny #594

Hi, I’m a UK Bitcoiner and I love the show. I wanted to mention the Buhtan Bitcoin accumulation. I personally don’t see this as a success story. I don’t think government having a lot of power is good and therefore I don’t particularly like strategic reserves in government because it just empowers them and keeps them big. Obviosuly Bitcoin is for enemies so it doesn’t keep me up at night but it’s why I am happy that the UK is avoiding a Bitcoin strategic reserve. I feel like this is an unpopular opinion so I’m interested in what you think.

Song boost! Props to V4V artists being better than most fiat slop on the radio these days, even when I don't particularly like the genre

I was already running Knots and Datum for my miners for true solo/lottery mining. After the last two weeks following the debate on Twitter and podcast I just can't see any good, consistent reason for maxing OP_RETURN size AND nuking configuration options. It's clear they want to homogenize all mempools which makes mining centralization even more of a problem. Need to get back to original vision of nodes being in control and nodes/miners being more coterminous.

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Wealth preservation through limited supply, decentralization, game theory, etc are the innovation. Bitcoin doesn't need shiny new tech features. Protocol vs software. I don't think he gets it.

Danny is crushing it, audio be damned

Knots is not maintained by "just one guy". This is a misunderstanding. Please have Bitcoin Mechanic/Grassfed Bitcoin on to get the other side on this. The real issue is mining pool centralization, which is what Stratum v2 was trying to solve, but now Datun has basically solved, and you run that along with Knots. Fix the mining pool issue and you the "spammers will be incentiized to go directly to miners" argument becomes moot.

A lot of condescension in his voice. He doesn't seem to be taking on the argument from the other side sincerely.

Shinobi is like Bitcoin's version of Reddit atheists and lolbertarians doing a "well akshually". The fact that he admitted he can't steelman the opposition tells me everything I need to know. Doing that is histrionic moralphagging, "It's so absurd I can't even...they must be crazy!"

Oops, meant to boost more

Pretty good song

Song boost

Bitcoin adjacent products are mainly there for institutions that can't hold Bitcoin directly or for tax "advantaged" 401ks/IRAs held by us wage-slaves. When I'm getting %6 match from my employer you better believe I'm putting all that towards Bitcoin ETFs or MSTR. So long as the fiat gains track with Bitcoin AND the system doesn't blow up, there's a good path to one day cash that out and convert into Bitcoin, then live off it by using BTC-backed loan products, inflating away the fiat debt so long as BTC CAGR outpaces the interest. Of course, all other take-home pay goes directly into BTC. These products have their niche, and I think that's what Saylor and Mallers are tapping into

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Great episode! Matt is always worth listening to

Thanks for all your work, guys. I don't always agree with you but appreciate you regardless. I'm trying to add to the free, private, decentralized apps space based on p2p protocols and design using the Pear stack. So far I have a family/group calendar, family/location sharing and screen time apps. Please check out what I've got so far at https://peerloomllc.com or check out @npub16u9hy2m8w… on NOSTR.

Great episode, such a wizard.

Helene relief boost

"Real wages have increased in lowest quintile". How many jobs are they working ((many had to work extra jobs) and how much of those are government jobs?

You can always tell a Leftist when start dropping F-bombs before words as a form of emphasis. Dude has TDS something hard

He is of the group that still believes in "classical liberalism" where it's arguably classical liberalism that got us to this point.

So bullish omds

The irony of AI naming the chapters "Caras ...". Looking forward to the listen!

Thank you

Good combo

LFG!

Boost my boy Ansel. Most underrated Bitcoin/macro analyst in the space, imo

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Epic positive doomerism

Unfortunately, I'm in one of the few states Salt Lending doesn't service yet (Alabama), but I am able to use LEDN. They have higher rates, but it's still a very cool unlock to live off Bitcoin without selling, assuming BTC CAGR is consistently higher than the rate. Just roll over the loan after 12 months and reclaim some of the BTC. Very nice

We babk, bby

Thanks for keeping up the BitAxe discussion! I truly believe this is a great opportunity for the aspiring bitcoin home mining enthusiast and decentralized mining in general. At our next Round Rock meetup we will be doing a mini workshop on BitAxe and decentralized mining infrastructure such as Ocean's Datum mining templates. Grab a Bitaxe from our site and pick it up at our next meetup where we will teach you how to use it. RoundRockBitcoiners.com.

Thanks Moe and Adam. A good show to cap it.

There is a big difference if you signal shitcoins are welcome or you focus on money and discourage non-monetary use cases. There are plenty of shitcoins they can play on. Nodes and users are important otherwise it deceases to be Bitcoin and becomes captured and centralized.

What bs are you talking abou Rizzo, lol.

I have never heard that knots supporters argue that they don't believe that a fee market establishes in the future. Hmm, why you think Luke is for 300kb blocks 🤔

Andere Kritikpunkte stimme ich zu.

Super Argument Dennis. Tom blendet Kernproblematik aufgrund von Indizien-DoS ab und kommt zu falschen Rückschlüssen. Ganz ohne technisches Verständnis kann man halt leider keine Rückschlüsse auf Validität der Indizien und Schutz vor Zentralisierung ziehen, sorry Tom.

Genau andersrum, Ver und Co waren die großen Player (Exchanges, Miner, ..) die ihre Geschäftsmodelle schützen wollten und via Blockgröße einfachste Lösung durchdrücken wollten (Zentralisierung). Mining Pools würden mit Bigblocks noch mehr zentralisiert sein weil schwerer Nodes zu betreiben. Pools ist ein Problem, Lösung Stratum v2, Ocean/Datum um Blocktemplates zu dezentralisieren. Ver/Bigblocks hätte nichts daran geändert bzw. verschlimmert. Blocksizewar als neutralere Quelle lesen.

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Maybe double the voting weight for people with skin in the game (kids?). 😁 No way non-French Europeans with similar living standards would move to Quebec of all places and have to learn French.

Appreciate the description of how PR articles become news.