@phildaian I think there’s room for improvement given that a tiny fraction of actual node operators (miners) get to… https://t.co/Uv9W3fGatm
@phildaian If said actors are able to impose a cost upon the ecosystem that is greater than the value of the operat… https://t.co/bkbtNPvo1M
@BeerdHead Not sure that’s a great example given that the use of Public Library resources is regulated by librarian… https://t.co/Jy1YiqI9vM
@BeerdHead You mean, real-world examples of the Tragedy of the Commons? Check out https://t.co/KX29YE8m1N
@phildaian You can absolutely be economically rational and simultaneously inconsiderate of using shared resources… thus the tragedy.
4) A distributed append-only log has immense utility; if you offer cheap / free writing of data to other peoples’ hard drives, expect abuse.
3) When asked why they were using the blockchain when any relational database would suffice, they answer “because it’s easy and we can.”
2) I’ve seen companies create on-chain txns, sending within the same wallet, during low-fee periods, just for internal accounting purposes.
1) If you make a public resource absurdly cheap / free then it will be abused by ignorant / inconsiderate people. Tragedy of the Commons.
@VinnyLingham I find it highly suspicious that @pmarca is listed at #2 when he hasn’t tweeted in what, over a year?
@jgarzik It’s possible, though in my experience high txn volume enterprises tend to not really care about on-chain privacy.
@PaytheTollman Creating room for more transactions means customers will pay lower fees and get faster confirmations… https://t.co/I3CYgftHkK
Same goes for Bitcoin companies that won’t batch transaction sends to create efficient many-output transactions. https://t.co/WJOWY4ZxHn
Bitcoin companies that won’t add SegWit support but do push for larger blocks are trying to externalize their dev costs onto the network.
Wow, Greg Maxwell performed an audit of @armory’s fragmented backup functionality for funsies? https://t.co/xBLT13umXR
I wonder if @Bitso @YourBTCC @RipioApp @ShapeShift_io are going to follow their own guidance for SegWit2X?… https://t.co/CiirdhhBA9
@scottshapiro It would if it was being used.
@AugustoSitio Most definitely.
Trailing week stats, BTC vs BCH: pic.twitter.com/yu0s45AgGm