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Deeply disturbing. >Bitcoin is a network that is defined by its users, who have ultimate freedom in choosing what software they use (fully-validating or not) and implementing whatever policies they desire. >... >While we recognize that this view isn’t held universally by all users and developers, it is our sincere belief that it is in the best interest of Bitcoin and its users, and we hope our users agree. You can't acknowledge that the users define the protocol then assert you know what's best and take away their choices in the reference implementation. The paternalism in Core MUST stop or they will continue to self manifest the very issues they insist they are trying to avoid. Users will leave Core. Are leaving Core. >predicting what transactions will be mined (for example for fee estimation or fee bumping, but it is also the basis for many DoS protection strategies inside of node software) You cannot predict what is in the next block, you cannot control what transactions miners will select to include in a block - it is by protocol definition arbitrary. Core contributors know that. They WISH they could predict what's int he next block because it would make life easier, so they want to pretend they can try. Well too bad, that's not how Bitcoin works and I shouldn't have to tell them as much. I went out of my way to test what the fee estimation differences were on rejecting knots node versus a default core node. Fee estimates have been identical for the last few weeks I have been checking. This is entirely a non-issue. > speeding up block propagation for the transactions we expect to be mined. Reduced latency helps prevent large miners from gaining unfair advantages; Miners already optimize for this reality when positioning themselves int he network topology, they are not the average node and the average nodes reconstruction times are meaningless to "miner decentralization", which is NOT where our decentralized properties come from in the first place that's the nodes you're disenfranchising. What is meaningful to "Miner decentralization" are things like DATUM taking templates away from mining pools. But ultimately miners do what nodes verify, because anything less means not being paid. More than that, we've previously in Bitcoins history seen 20 second+ reconstruction times. No one had a fit then. In fact reconstruction times have come down phenomenally in the last decade. Bitcoin worked just fine at the time, in fact rebuking an attack from 80% of miners (which aren't decentralized) and businesses in the space. Block propagation is not an issue. If it was, Core devs have shot themselves in the foot with their behaviour because the issue will only get worse as they drive people to other implementations. > helping miners learn about fee-paying transactions (so they do not need to rely on out-of-band transaction submission schemes that undermine mining decentralization). You can't acknowledge that miners can and do receive transactions through means other than the gossip network and always have, and pretend you can "fix" that by removing node management options or changing OP_RETURN defaults to cater to a specific shitcoiner. None of these changes will change the reality that miners will use out of band payments as suites them.They already do for the shitcoins they mine, for accelerators, none of that is going to suddenly change because Core altered the default OP_RETURN settings. This has nothing to do with stopping spam. This is about users managing their nodes and choosing what code they run. It's about how the reference implementation pretends to avoid merging controversial changes, but does so whenever its clique maintainer group whims. We have seen it over and over from LOT=TRUE, to the blocksize wars UASF, to the mempool filter options, to these obscene security policies which manipulate users blindly into running code that is undocumented for security reasons. Every developer signing this letter has fucked up. The motivations for this change are not remotely compelling, even if they were it is CLEAR that the issue has no consensus. All this drama serves is to dismantle the Core monopoly and if that is all the good done here that is surely a fantastic day. You clowns keep shooting yourself in the foot, I'm going to keep contributing to other projects. If you ever decide to wake up and enable users in the role of a traditional product owner, as they belong in the reference implementation of a protocol they define, I'll be happy to return to driving users to Core. Until then, every user I educate is getting a lesson in this drama when choosing the code they run.
goes up 5% in the last 24h and we have CLEAR reasons why it pumped... okkkkk
I feel like you're missing a key part of Ethereum when you exclude stablecoins and tokens from the picture. Most stable coins are just Ethereum tokens. Most are cross-chain at this point, but still mostly operate as Eth tokens. Many other tokens such as Uniswap rely on eth as well. These are likely going to continue to use Ethereum, which creates a demand floor and for the network that most altcoins don't have. It's like how the existence of BTC ETFs drives the price higher by bringing demand that other coins don't have access to. Out of the smart contract networks, ethereum has been around the longest, has the biggest existing ecosystem, and has the most support and help tools. It's also one of the only non-btc coins to even have ETFs. Nobody is going to switch from eth to another network without CLEAR advantages. Way too much financial risk, and the new network could be more expensive or slower if it ever reached Eth's demand. So with that in mind, stablecoins and other non-meme tokens will likely remain on Eth providing some base demand.
God it's so sad the level of intelligence some of you have. Number 1 RLUSD REQUIRES XRP Number two, Ripple and Brad made it VERY CLEAR "Hidden Road to migrate post-trade activity across XRP Ledger (XRPL) demonstrating its potential as the go-to blockchain for institutional decentralized finance (DeFi)" 3 trillion a year on XRPL https://x.com/bgarlinghouse/status/1909578606914810367?t=-DTKZHfSBypVzkuNHDLoxA&s=19