Bitcoin Plan - May 7, 2021
Bitcoin Governance, Casa Kills Node, Liquid Sidechain Podcast
Dear Bitcoiner:
There has been a lot of discussion on Bitcoin Twitter and Clubhouse recently about Bitcoin Governance considering the looming advent of Taproot Activation. I think Bitcoin Governance (BG) is an incredibly fascinating topic that warrants some attention. If you aren’t familiar with what is happening with Taproot, I would suggest you send some time reviewing the following list of curated articles that I have gathered on the topic. These should act as a excellent base from which to begin reviewing and understanding Taproot.
While Taproot doesn’t quite fit into the paradigm of what BitcoinPlan.co is, I think it surrounding topics will help you understand some of the unimaginable complexity of what makes bitcoin such a well-balanced incentive mechanism. Without further ado, here is what I would recommend reading if you wanted to pass Bitcoin Governance 101:
Bitcoin Governance - A primer of Bitcoin Governance. The author spends a significant amount of time focusing on how and why the core developers are not in control of the bitcoin protocol. This article does give a great history of early bitcoin disputes and the consequences therein.
A Theory of Bitcoin Governance - A review of Bitcoin Governance with a clever comparison to the US Constitution and the Federalist Papers that paint a clear picture of the economic incentives of all parties.
Bitcoin Governance as a Decentralized Financial Market Infrastructure - This is a traditional research paper. The paper covers and discusses the Swift Network, for processing international payments, a brief history of bitcoin bugs, details regarding the big block dispute, and a thorough but somewhat misguided review of Bitcoin Governance.
The Invisible Politics of Bitcoin: Governance Crisis of a Decentralised Infrastructure - This research paper discusses some well-known challenges faced by open source projects and peer-production communities. Moreover, this article explores the governance mechanism surrounding the network and the incentives held by the various participants in very clear terms. The article explores what the author calls bitcoin’s meritocratic governance system. While much of this article may appear less than complete, there was a ton of useful information and strong governance analysis.
Node News
Casa recently announced that after June 30, 2021, that they would not be support any additional software releases, features or security updates for Case Node and Sats App. Moreover, Casa disclosed that they would not be assisting with troubleshooting or other related questions for either Case Node or Sats App after June 30, 2021.
As such, is it my recommendation that you consider moving any funds you have remaining from the Sats App immediately. Moreover, if you have Case Node hardware, it is worth considering an upgrade from the Casa Node software immediately as well. Recommended alternatives for Casa Node 2, are Umbrel and MyNode.
For more information about this issue visit Casa Blog
Bitcoin Podcasts
May 4th, 2021 Matt Odell hosted Adam Back of Blockstream and Wiz of Bisq on Citadel Dispatch for a lengthy discussion regarding the Liquid Network, Bisq, and Bitcoin privacy. The event proved to be rather compelling presentation of everything that is happening in the space.
Having recently reviewed the Liquid Network documentation for an unrelated project I was excited to see the depth of the discussion and the candor that Matt Odell constantly brings. There is little doubt in my mind that Matt Odell had done his homework about the Liquid Network as the conversation covered went from high level overview to risk mitigation and analysis in a matter of 15 minutes.
While this podcast is on the long side, weighing in at over three hours, the conversation was incredibly insightful. Click the image below to listen in.
Bitcoin Twitter
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Thanks for reading! @BitcoinPlanner