Bitcoin III

Dear XBT Community, Here are some of my thoughts regarding the XBT 1-year CoinBaseMaturity Freeze... I have asked to be allowed back into the Discord to take part in these discussions as this topic is very important to me. I hope at this point I have earned at least a little bit of report from community over the last ~2 weeks. So, I'll lob my two sats in your direction in hopes you take my thoughts into consideration... I think directionally it addresses a problem the network seeks to solve but at a cost that may in fact sterilize the net positivity over time. Simply because it is too crude and heavy handed. It feels like the fed using a blunt instrument like interest rate hikes lol. Attach whatever narrative/justification you want to it, holistically speaking it lacks effectiveness and potentially comes at a cost that outweighs the problem its trying to solve. If the primary goals are to deter blind hashing, promote TRUE decentralization in mining (DATUM adoption) and perhaps bring down the cost of Blake2B hardware acquisition thereby getting more plebs into mining (would love to discuss algo choice some day), then it seems obvious a more balanced approach would suffice. The social layer deterrence helps, sure. However, an emissions (CBM specifically) code change by which some level of protocol commitment is forced while balancing sustainable decentralized mining engagement is in fact highly achievable. IMHO? The needs assessment was never conducted and a vote of Yes/No on 1-year CBM is wholly misplaced. The discussion/voting/needs assessment should be focused around the root cause (as determined by proper ishikawa analysis) and then applied from there. I've thought about this a bit over the last few weeks, I just don't have the ability to discuss these matters with the community since I'm still conditionally exiled from the Discord. I think the proper approach is a code policy that absolutely hammers hit and run profit seeking miners but retains protocol supporting Node Runners + Miners. Securing the network should not be done pro bono and wholsesale changes to the issuance of Bitcoin (XBT) should not be taken lightly as they come at a massive cost. The vote should be on what the proper code change policy looks like. 30/45/60/90/120/180 day CBM being applied around 11-1-26 is where the discussion should be focused, not one year... A permanent 60-day CBM is enough to absolutely clobber a hit and run miner, they won't touch it. Let alone the fact that they have to learn how to run a node to even start lol. Imagine what 90-120 days would do? A one time one-year CBM seems almost silly to me given the other options on the table that aren't even being discussed, as far as I can tell. See the first comment for some potential harms 👇