Everyone’s Thinking About Second Layers Is Backwards

Everyone’s Thinking About Second Layers Is Backwards

I have written quite a bit about my concerns regarding drivechains and miner incentives over the years, because I think it is a very important set of risks to be aware of. Bitcoin is almost 15 years old as a live network at this point, and it has stood up to a good bit of pressure and outright malicious griefing and attacks over those 15 years. Bitcoin has withstood internal attacks from developers trying to radically alter the system, it has withstood the same attack from most of the major businesses in the space, it has survived what could have been fatal and catastrophic bugs, super powers banning it, wild price volatility, etc. It has stood up to everything to date that has been thrown at it. Why?
Because of the resilience of its incentive structure.
Developer coups failed because of invested users incentivized to figure out the rational long term direction to go. Business coups failed because those same users and their customers to those businesses is what made them money. Nation

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We współpracy z: https://bitcoinmagazine.com/technical/everyones-thinking-about-second-layers-is-backwards-

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