Peck by twetch#116

1Jvg1G…CC1L Key · twetch

Wow! Ray Dillinger aka Bear wrote an email declaring it a "failure" today.

'The scarcity of block chain space has led people to re-invent every last feature of the banks they thought they were going to be escaping.'

What the chain says

Transaction: 9e81191f4fa636abbe3f7902b280c8e4e99aa0ae26b86ca7d05e54176c223ffb
Block: 667 681
Time: 2020-12-29T16:03:18Z
Signer: 1Jvg1Ggqo564iuyaLE1RqEdGetwqzNCC1L
App: twetch
Type: post
Content type: text/plain
Name in tx: twetch#116

Fields the transaction did not carry are omitted. Open the payload to see the bytes as stored.

Signed by 1Jvg1Ggqo564iuyaLE1RqEdGetwqzNCC1L Verified

Reposted by (4)

twetch#13473 Reposted · 5.8y
twetch#21877 Reposted · 5.8y
twetch#2723 Reposted · 5.8y
twetch#5640 Reposted · 5.8y

Replies (11)

twetch#678 5.8y

1E5wYa…Ycfh Key · twetch

Replying to@1Jvg1G…CC1L

Daaammn

Bear destroys both small and big blocking.

twetch#678 5.8y

1E5wYa…Ycfh Key · twetch

Replying to@1E5wYa…Ycfh

wait till he finds out BSV going to remove the token from the mining

twetch#2353 5.8y

1NUTqC…5LRb Key · twetch

Replying to@1E5wYa…Ycfh

As craig has been saying, no one is using bitcoin correctly... SPV is a MUST... and yet its still poorly understood.

twetch#24100 5.8y

1CtfHj…zVrZ Key · twetch

Replying to@1Jvg1G…CC1L

Oof, some to unpack here. The potential disastrous pitfall of LN is not any credit-nature, since the contracts are "trustless". No, it is a systemic risk of widespread failure due to software bugs in an adversarial environment.

twetch#24100 5.8y

1CtfHj…zVrZ Key · twetch

Replying to@1CtfHj…zVrZ

Imagine a large number of channels frozen, their balances never to become liquid again. Or large scale theft due to LN contract bugs (see hacked DeFi/DAO contracts).

twetch#24100 5.8y

1CtfHj…zVrZ Key · twetch

Replying to@1CtfHj…zVrZ

The anti-ASIC stance is futile as well, what is the alternative? Benevolent central planning of anti-ASIC forks every 6 months, while hoping the planners have no prior hidden investments in whatever technical specs are chosen?