Podcast
[1]Bitcoin’s incentives are clear and fair, while proof-of-stake has contrasting incentives that are the same as the current system where the rich get richer.
Bitcoin’s incentives are clear and fair, while proof-of-stake has contrasting incentives that are the same as the current system where the rich get richer.
This is a transcribed excerpt of the “Bitcoin Magazine Podcast,” hosted by P and Q. In this episode, they are joined by Tomer Strolight and Nico to discuss the Ethereum merge and how it proves that bitcoin and eth are completely different assets and whose networks have very different architectures.
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Listen To The Episode Here:
Tomer Strolight: I really fundamentally see Bitcoin and Ethereum as almost opposites of each other. Or maybe not even almost, as close to as opposites of each other as can be. When I think of the Blocksize Wars, I think corporations within Bitcoin and miners within Bitcoin were testing the system in a sense, to see if they could take over control of Bitcoin. Very quickly and very immediately and very simply, Bitcoiners said no.
When we put our money where our mouth is and we wrote and ran very simple software that would prevent the seizure of control of Bitcoin by the mining cartel, we said, “We want segwit to activate. And if you don't activate segwit by a certain date, your blocks will be considered invalid.”
That was the logic of the UASF (user-activated soft fork) and enough of us ran it and enough of us advocated for it that they ran it. That's a very short version of the probably 35-minute read of my article[8] for you guys.
