those can only be spend 100 blocks after mined. So for a 200 block reorg we are talking about 100*12.5 = 1250 BTC ~$12.500.000 I am aware that IN THEORY those missing UTXOs can block an unlimited amount of total tx. In practice this seems unlikely.
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Radical immutability serves no purpose. Bitcoin is a tool made by humans to serve humans. If it stops being useless, we need to be able to change it (and we are - we can always move to an identical copy without e.g. a bug)
In practice I think you're right that some form of community governance will happen in that situation if the situation is catastrophic and a large enough percentage of the community is affected.
"Serves no purpose"?! WTF?! Good grief you are one of these vile creatures: https://unenumerated.blogspot.com/2006/10/hello-kitty-people.html … You have outed yourself as an enemy of Bitcoin security. Blocked.
![Owen Gwilliam [Jan 3/🔑]](https://pbs.twimg.com/profile_images/1117176112453308416/B8xQKK4l_normal.jpg)
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@hasufl you still believe Bitcoin can coordinate around a re-reorg in 24h? -
Yup
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Nick, I'd urge you to reconsidering blocking Hasu. He's a potent and thoughtful Bitcoiner.
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to the triggered people below: bitcoin will fail if it has no intellectual diversity. ideas need to be fought over in the market, not ignored and feared. luckily, the puritans have no control, and they're not persuasive.
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I agree with the previous tweet but “bitcoin will fail if it has no intellectual diversity” isn’t very meaningful. Bitcoin doesn’t have intellect, it’s an asset class. Stakeholders will be diversified because.. why won’t they be? and the occasional block has nothing to do with it
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I disagree; Bitcoin's future depends on a disparate community of people collectively expressing their values and making good decisions. The UASF was a decision; future decisions do/may include Schnorr, sighash_noinput, blocksize inc/dec, on-chain privacy improvements, etc.
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To the extend that they are unable to engage w/ diverse ideas and challenge their assumptions, the likelihood of them making good decisions decreases
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Diversity of ideas is important but it’s not the top priority on an individual’s plate, sometimes diversity takes a hit for some other value (like a false positive when blocking people to salvage one’s time), that’s balanced and normal
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And it's not diversity, it's bog common error. I see "governance is good" on my tweet stream every day. Multitudes don't understand that the main value add of Bitcoin comes from using simple rules strongly enforced by security protocol to minimize vulnerability to governance.
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I try to block them, but these we-need-more-governance zombie clones keep coming over the walls like plague victims from some horror flick.
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I feel like I more-agree-than-disagree with the comment you're replying to. And I love Hello Kitty. Am I an enemy of Bitcoin security? I actually feel like my position (socially rejecting day-long 51% attacks
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I think the idea is that once you allow yourself to entertain the idea of social recovery after a 51% attack, you immediately invite the barbarians at the gate to come in and turn your cryptocurrency into a government controlled inflation fest, you thus make the system less safe.
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It opens up a huge variety of possible attacks, that is only one out of a vast universe of bad things that could happen. Also it destroys the competitive advantage of cryptocurrency since bankers can do financial governance far better than anybody in the crypto space.
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Stay around on crypto Twitter a while longer, you'll get there!
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Looking at your profile it seems as if we are enemies
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Can confirm,
@notscav loves a roast. -
scav loves crabs more
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