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Matt Walsh
@MattWalshInBos
·
10h
I’m sure they exist, who lives here?
Nick Pullman 🇺🇸
@NickPullmanEsq
·
10h
Me. Security budget unsolvable due to extreme protocol ossification that rejects even minor changes
Matt Walsh
@MattWalshInBos
·
10h
So your view is that fees to miners will not sustain the network in the future as the block reward tails off? Definitely a worthwhile topic IMO.
Do you actually believe bitcoin is worthless as currently designed? Nick Pullman 🇺🇸 @NickPullmanEsq · 10h Yes. Fee market has never been sustained to the level needed and will never do so even with global adoption as daily use would necessitate L2s so only large true up transfers for L2s and large settlement tx from custodian to custodian would be base layer. Fee market simply isn’t Show more Matt Walsh @MattWalshInBos · 9h This is definitely in the category of “good FUD” that should be more openly discussed.
My view is that it’s still very early in the block reward vs. tx fee dynamic. Bitcoin layer 2s just getting started, stablecoins not at scale on BTC yet, non-financial use cases like Show more Nick Pullman 🇺🇸 @NickPullmanEsq I don’t really think any of these use cases are feasible given the ossification issue.
You’d have to 100x the block size or reduce the block time, dramatically, to enable any of those use cases on BTC 12:51 AM · Nov 28, 2024 · 931 Views
0xJeff.eth @NavyInnovator · 7h I tend towards this concern too but if they copied the Ethereum L2 playbook with blob fees it could be a viable solution.
Lots of "if" there and it may not work but it's a possibility imo. Nick Pullman 🇺🇸 @NickPullmanEsq · 7h I fully agree. Unfortunately that requires massive changes at the protocol level far in excess of even the block size wars of 2017 when segwit2x was rejected and community split with the infinite garbage chains that all flopped (bch, bchforksidontrememeber, brcdiamondcrap, etc) 0xJeff.eth @NavyInnovator · 7h Heh, I remember flipping a nice bag of "BTC Private" sometime post fork.
Yeah a protocol change would be incredibly difficult and contentious to do, but if it was absolutely necessary to maintain the 21m cap I could see it happening.
We'll find out in a few years! Nick Pullman 🇺🇸 @NickPullmanEsq · 7h itDoesntMatter @Does_not_mattr · 7h Can we discuss the use case of bored apes? 😬 Nick Pullman 🇺🇸 @NickPullmanEsq · 6h Despite this being totally out of scope and irrelevant here it’s a fair question in general.
Personal brand recall in an attempt to build my law practice compared to whatever forgettable thing you have there as a pfp that also signals I’m on chain and understand the tech. They Show more
Show replies Pops @pablogrossi · 8h Government interventions Could help Or not