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FluidFluxation's profile
Will 🗣️ 🌐
Will 🗣️ 🌐
Will  🗣️  🌐
@FluidFluxation

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Will  🗣️  🌐

@FluidFluxation

$I am‽ Generalist. Theorycraft.

Here, Now, Probably
Joined April 2011

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    1. Paul Sztorc‏ @Truthcoin Feb 6
      Replying to @fnietom

      Cool graphic. And you agree with me that it supports the "profit motive" model

      1 reply 0 retweets 1 like
    2. Fernando Nieto‏ @fnietom Feb 7
      Replying to @Truthcoin

      Right. It also shows the negative effect of forks in the main chain, consuming block space and rising fees. People like @DanielKrawisz should note this.

      1 reply 0 retweets 0 likes
    3. Daniel Krawisz‏ @DanielKrawisz Feb 7
      Replying to @fnietom @Truthcoin

      Duh, that's because they're in competition with one another. The main chain should become more attractive to investors rather than blaming other people if you want to stop that.

      1 reply 0 retweets 0 likes
    4. Fernando Nieto‏ @fnietom Feb 7
      Replying to @DanielKrawisz @Truthcoin

      This has nothing to do with competition. In the absence of a liquid options market, even stupid forks like BTG generate big negative externalities. They are easy to pump as a marketing campaign, tempting people to split their coins even when they are clearly worthless.

      1 reply 0 retweets 0 likes
    5. Daniel Krawisz‏ @DanielKrawisz Feb 7
      Replying to @fnietom @Truthcoin

      Why don't you think it has anything to do with competition?

      1 reply 0 retweets 0 likes
    6. Fernando Nieto‏ @fnietom Feb 7
      Replying to @DanielKrawisz @Truthcoin

      Minority's experiments can use alts (or sidechains when available) to compete with no externalities. Forks try to gain notoriety at the expense of generating externalities and should be considered attacks to the main chain.

      1 reply 0 retweets 0 likes
    7. Daniel Krawisz‏ @DanielKrawisz Feb 7
      Replying to @fnietom @Truthcoin

      How does what you say here relate to my question at all?

      1 reply 0 retweets 0 likes
    8. Fernando Nieto‏ @fnietom Feb 7
      Replying to @DanielKrawisz @Truthcoin

      It illustrates how forks are not needed to compete. Unless you consider attacks a legit tool to do so... If this practice becomes widespread Bitcoin will be forced to defend itself until it disappears.

      1 reply 0 retweets 0 likes
    9. Daniel Krawisz‏ @DanielKrawisz Feb 7
      Replying to @fnietom @Truthcoin

      Once again duh! the very idea of competition means that the competator can win. I think forks are better at winning so I prefer those.

      1 reply 0 retweets 0 likes
    10. Fernando Nieto‏ @fnietom Feb 7
      Replying to @DanielKrawisz @Truthcoin

      No, forks are not better at winning, violence has a negative net value. BCH and BTG only 'succeeded' because Bitcoin wasn't prepared and assumed the cost, instead of defending itself, but externalizing your costs is not a sustainable strategy in the long run.

      3 replies 0 retweets 0 likes
      Will  🗣️  🌐‏ @FluidFluxation Mar 19
      Replying to @fnietom @DanielKrawisz @Truthcoin

      Economic violence is price discovery.

      8:38 PM - 19 Mar 2018
      • 2 Likes
      • 👤🌊💻 Daniel Krawisz
      1 reply 0 retweets 2 likes
        1. New conversation
        2. Fernando Nieto‏ @fnietom Mar 19
          Replying to @FluidFluxation @DanielKrawisz @Truthcoin

          Fernando Nieto Retweeted Will  🗣️  🌐

          True, violence expectation will be priced in forked coins, which answers your other tweet:https://twitter.com/fluidfluxation/status/975939388243959808 …

          Fernando Nieto added,

          Will  🗣️  🌐 @FluidFluxation
          Replying to @fnietom @DanielKrawisz @Truthcoin
          You can't stop people from forking bitcoin. You could try to implement protocols that punish miners for doing work on minority chains that have (temporarily) higher profitability, but that would be another fork. Besides, that sounds a lot like socialism.
          1 reply 0 retweets 0 likes
        3. Will  🗣️  🌐‏ @FluidFluxation Mar 19
          Replying to @fnietom @DanielKrawisz @Truthcoin

          Doesnt prevent forking. You can call forking an attack on the network, I don't care for label games. I'm saying you cant stop forking where economic incentives for it exist, and to restrict those incentives restricts the entire chain.

          1 reply 0 retweets 1 like
        4. Fernando Nieto‏ @fnietom Mar 19
          Replying to @FluidFluxation @DanielKrawisz @Truthcoin

          I’m against forks creating more damage than benefit, so incentives should work in our side.

          1 reply 0 retweets 0 likes
        5. Will  🗣️  🌐‏ @FluidFluxation Mar 20
          Replying to @fnietom @DanielKrawisz @Truthcoin

          You perceiving forks as damaging does not change economic incentive structures for miners. & hive mind prediction engines are not the answer, economically incentived hashpower is, which we already have. Model isnt broken. Forks will deserve to survive or die on their own merits.pic.twitter.com/9mOUmqTjfS

          2 replies 1 retweet 2 likes
        6. Fernando Nieto‏ @fnietom Mar 20
          Replying to @FluidFluxation @DanielKrawisz @Truthcoin

          Miners are not the only actors, nor the most relevant. The will just mine anything paying them fees or inflation coins if those keep any value. Forks pricing is independent.

          1 reply 0 retweets 0 likes
        7. Will  🗣️  🌐‏ @FluidFluxation Mar 20
          Replying to @fnietom @DanielKrawisz @Truthcoin

          Bitcoin is valuable because its anti-fragility & soundness reinforces trust. Miners are the incentive structure that allow this system to survive & grow. Chains will be mined based on expected profitability. Market will solve fork disputes, no extra political solution is needed

          0 replies 2 retweets 4 likes
        8. End of conversation

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