From Roger Ver’s account given in “Hijacking Bitcoin”, the big blockers weren’t satisfied by segwit2x either because they anticipate much higher transaction volume. Big blockers want bitcoin to scale on layer 1, instead of via a second layer in the form of Lightning. Roger references a few times where both transaction time and cost became problems and how early failures of Lightning made its ability to solve them questionable.
I understand his misgivings about having a majority of BTC holders never transact either. I agree that keeping those people in (instead of forking them) makes sense, and that it’s up to coiners to make tools and advocate for adoption, so that this majority begins to transact. But his point about UTXOs being a clunky workaround holds , and I’m still unsure about trading security for scale.
Need to read up on the tradeoff in security for scale and how Lightning works these days, tbh. Would love to hear what LynAlden (nprofile…dg4z) thinks.
/ Miquyl
npub1py…5edh9
2025-03-27 11:41:18
in reply to nevent1q…xeqr
Author Public Key
npub1pyz5uzwjjqh5qhvvplcz2y4hes288cuvkswnm5jzepz5xghqvt9st5edh9Seen on
wss://nos.lolPublished at
2025-03-27 11:41:18Event JSON
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"content": "From Roger Ver’s account given in “Hijacking Bitcoin”, the big blockers weren’t satisfied by segwit2x either because they anticipate much higher transaction volume. Big blockers want bitcoin to scale on layer 1, instead of via a second layer in the form of Lightning. Roger references a few times where both transaction time and cost became problems and how early failures of Lightning made its ability to solve them questionable.\n\nI understand his misgivings about having a majority of BTC holders never transact either. I agree that keeping those people in (instead of forking them) makes sense, and that it’s up to coiners to make tools and advocate for adoption, so that this majority begins to transact. But his point about UTXOs being a clunky workaround holds , and I’m still unsure about trading security for scale. \n\nNeed to read up on the tradeoff in security for scale and how Lightning works these days, tbh. Would love to hear what nostr:nprofile1qqsw4v882mfjhq9u63j08kzyhqzqxqc8tgf740p4nxnk9jdv02u37ncpz3mhxue69uhhyetvv9ujuerpd46hxtnfduq3gamnwvaz7tmwdaehgunnv968vcfwdejhgwadg4z thinks.",
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