| > The miners "are" the network Err... no. Nodes define and police consensus in bitcoin, not miners. It is the fact that nodes, and not miners, not agreeing to changes that miners want that would lead to the centralization of the network into miners hands, that is the entire argument about scalability and blocksize. > them rejecting a change is the network saying no democratically Yes, it is the nodes rejecting change that is leading to little to no change. The nodes have overwhelmingly agreed to an upgrade, and the largest miner, bitmain, is resisting it, so there may be some truth to the assertion that miners don't want this upgrade because they perceive they will lose profit from it. The fact that the nodes are looking to 'go over bitmains head' and implement this change without the need for the largest blocking miner, that is the entire reason the 'new york agreement' was developed in the first place. But we do agree on the core issue. The lack of the ability to easily change is a feature of the design. The incentives are slightly misaligned with the implementation of asicboost, but for the most part, they function as expected. |
I haven't followed the drama super close but I take the "New York Agreement" as the adults stepping into the room and saying enough with the crazy ideas. If they manage to get SegWit enabled and increase the block size for old-style transactions, I think Bitcoin will be in good shape for a while. I'm not sure it will go smooth though so I cashed out some of my BTC as a hedge.
It seems we both agree that the difficulty of changing the design is a good feature, even though it is frustrating right now due to scaling. A dictatorship is a great system of governance, as long as you can trust him to do good. Other systems are messy and frustrating.