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Every day we waste on
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return is further proof that
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Each Bitcoin Treasury company: - has expenses - is taxed and regulated - may lose all its coins, due to a hack / inside job / mistake. thus, their ROI must be less than the self-custody Bitcoin ROI. And: - Any premium due to "access" to investors, will be competed to zero as new Treasury companies arrive As far as I can see, no amount of Madison Avenue salesmanship can paper over these disadvantages. -- but hey, I hate to rain on everyone's parade. @verysmallclaims
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Its obvious that Drivechain will destroy and replace everything (other L2s and Altcoins) What remains to be seen: will we see an epic revolution, of total success and domination, vindication, akin to the end of WW2 Or Just an awkward shrug (the way COVID ended)?
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A post on popular mining lies -- https://www.truthcoin.info/blog/popular-mining-lies/ -- which (by the way) includes a heterodox reflection on the Blocksize War. and A post on Ideal Perfect mining pools -- https://www.truthcoin.info/blog/ideal-mining/ -- (and how, we almost have them today).
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Its actually the P2P network that is filtered out, by MARA slipstream (and direct submission and private mempools). Today, MARA will "pre-announce" the next block, for free. This is useful. But they could (theoretically) charge $ for that service. And then Luke would be saying that Mara should pay him [ and each of his nodes] -- but he would be wrong. It is the full nodes which need the mempool of the mining nodes (to save on bandwidth)
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Yet another reason why Luke is wrong: Luke claims that for any node to *wait* to upgrade to the latest version, is a "failure of Bitcoin". And -- to *wait* to upgrade to the latest soft fork, is a colossal failure, and "regression to SPV". However: 1) every node is a full node of itself, but it is also equal to "SPV mode" of an infinity of closely-related protocols. These may not be used by anyone, but they still exist theoretically. For example, Bitcoin Core v 25 is a full node of itself, but an SPV node of a hypothetical soft fork (of 25) where we always reject a block if the last 4 bytes are 1234 + the versionbits end in 5678 2) Every full node, is **using SPV** on the question: will this block be orphaned ? There is NO way to KNOW the answer to that question using just your node. The ONLY source of illumination, on this question, is to do what spv nodes do: wait for more block headers to roll in, count them, and hope for the best. So: the "heaviest chain" rule -- is a rule that is only enforced at SPV level. Even the full nodes only enforce it at SPV security. And so -- Luke's nightmare scenario, --which he aims to prevent via his theory that we must all run the latest version, etc-- that bad outcome is actually the one we are all permanently stuck in, forever. It is inexorably linked to proof-of-work itself.
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