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Issue #509: Tradeoffs are important to consider

Issue #509: Tradeoffs are important to consider

Jun 20, 2019
Marty's Ƀent

Issue #509: Tradeoffs are important to consider

Here's a great article from our boi Nic Carter titled Bitcoin Bites the Bullet that walks us through the different tradeoffs that Bitcoin has made in an attempt to ensure it's long-term survivability and success as a sovereign digital currency. I highly recommend you check it out and share it with anyone who has been trying to sell you on the dream of "the next big blockchain" that promises more transactions per second, better monetary policy, or unbounded block space.

Bitcoin has decided to take the hard route on its journey towards sufficient decentralization, and this makes people very uncomfortable. It also allows opportunists to come in an exploit an unsuspecting retail class by labeling these well thought out tradeoffs as flaws that their hastily constructed project is about to fix. Understanding the reasons Bitcoin has made the tradeoffs it has and how taking the other side of those tradeoffs would hurt its long-term goals is imperative to being able to call out the bullshit that exists in this "space".

We are lucky to have lucid and concise thinkers like Nic who has done an incredible job of condensing and explaining topics that took me years to come to understand. As we move further away from the Genesis block, it seems that our understanding of this alien system is becoming clearer. This is imperative for future adoption as we need to cut the lead time from "0" to "sufficiently understands Bitcoin as a system" down from many years to a much shorter timeframe. Pieces like Nic's Bitcoin Bites the Bullet are great for this.

Final thought...

Short rip this AM. Have a plane to catch.


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