Interesting & worth a listen. https://youtu.be/lgf--fz1iCo
Text on the screenshot in the video:
In investing you have to know what you own!
• Bitcoin never was "inevitable'. It was always an experiment. Could humans, namely common people/plebs, cooperate to maintain a decentralized network RUN BY & USED BY AND FOR PLEBS!
• Bitcoin whitepaper opening comments review
• What gives Bitcoin value? Self sovereignty:
No central control - decentralized
Permissionless access to the network
Network effect
• Security
• Why has legacy Core Bitcoin fallen below the decentralization threshold:
• Bitcoin Core behavior
• Centralized VC funding
• Hiring new developers who are not Bitcoiners, this is just their job
• Refusing to patch exploits because "it was contentious"
• Pushing through a very contentious op_return change
• Proof of Bitcoin miner collusion (Jonathan Bier)
• My expectation isn't immediate death; I expect lower highs and lower lows cycle of cycle in inflation adjusted terms as Bitcoin trends toward zero.
• What happened with BIP-110?
• Failed to gain miner consensus because of collusion amongst the miners.
For the first time in Bitcoin's history miners have ignored a subset of nodes with more restrictive ruleset. BIP-148 had fewer nodes...
• At time of BIP-110 activation there were MORE Knots nodes
• Bitcoin is now further centralized by pushing away the most fervent Bitcoin node runners.
• The network is now very centralized and supported by NGU NPCs buying centralized derivatives of Bitcoin.
• Does blake2b based Bitcoin have a chance? What are the possible outcomes?
• Yes but many things have to go the right way and it's probably a long shot.
• Worst case outcome is Bitcoin stays a centralized Luke/Knots centric chain with minority hashpower and it too trends towards zero.
• Best case scenario is the huge support we see online, ratios in comments, huge support in comments section on YT videos that are either pro Core or pro Knots etc.
Forwardsteps / forwardsteps 🧡
npub15t…s67mv
2026-09-09 11:03:20 UTC
Author Public Key
npub15tdn6fh3q7990dtemwdnu3x4kp4r6dcqvntyum63ufg4tshtfnfq0s67mvSeen on
wss://relay.damus.ioPublished at
2026-09-09 11:03:20 UTCEvent JSON
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"content": "Interesting \u0026 worth a listen. https://youtu.be/lgf--fz1iCo\nText on the screenshot in the video:\n\nIn investing you have to know what you own!\n• Bitcoin never was \"inevitable'. It was always an experiment. Could humans, namely common people/plebs, cooperate to maintain a decentralized network RUN BY \u0026 USED BY AND FOR PLEBS!\n• Bitcoin whitepaper opening comments review\n• What gives Bitcoin value? Self sovereignty:\nNo central control - decentralized\nPermissionless access to the network\nNetwork effect\n• Security\n• Why has legacy Core Bitcoin fallen below the decentralization threshold:\n• Bitcoin Core behavior\n• Centralized VC funding\n• Hiring new developers who are not Bitcoiners, this is just their job\n• Refusing to patch exploits because \"it was contentious\"\n• Pushing through a very contentious op_return change\n• Proof of Bitcoin miner collusion (Jonathan Bier)\n• My expectation isn't immediate death; I expect lower highs and lower lows cycle of cycle in inflation adjusted terms as Bitcoin trends toward zero.\n• What happened with BIP-110?\n• Failed to gain miner consensus because of collusion amongst the miners.\nFor the first time in Bitcoin's history miners have ignored a subset of nodes with more restrictive ruleset. BIP-148 had fewer nodes...\n• At time of BIP-110 activation there were MORE Knots nodes\n• Bitcoin is now further centralized by pushing away the most fervent Bitcoin node runners.\n• The network is now very centralized and supported by NGU NPCs buying centralized derivatives of Bitcoin.\n• Does blake2b based Bitcoin have a chance? What are the possible outcomes?\n• Yes but many things have to go the right way and it's probably a long shot.\n• Worst case outcome is Bitcoin stays a centralized Luke/Knots centric chain with minority hashpower and it too trends towards zero.\n• Best case scenario is the huge support we see online, ratios in comments, huge support in comments section on YT videos that are either pro Core or pro Knots etc.",
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