He is a Take Shinobi stated on Wednesday that the rapid adoption of Bitcoin by institutions will result in a premature ossification to the Bitcoin protocol. While I understand this concern in part, I don’t think it’s necessarily the case.
Bitcoin is a permissionless system by nature. It is a protocol change that requires it. “just” Users must upgrade their software. It is not necessary for all miners to update to deploy soft-forks. It’s a bit simplified for simplicity’s sake but still a good idea. “true enough” It is best to put it in this manner.
The majority of miners will follow economic incentives. There is good evidence that a protocol update will make Bitcoin, for example, more scalable and private. This, in turn, should lead to miners activating the upgrade.
In an extreme case where the soft fork happens through a user-activated soft fork that splits the Blockchain, even if this is the scenario Shinobi ultimately envisages, it is not clear to me that the unupgraded blockchain would benefit. “win”.
You cannot be a Bitcoin if you only own a large number of them. “say” Which side of the split chain is worth more? In the beginning, coins are distributed on both sides. You can only get it by clicking here If you are willing to purchase or sell the coins, (e.g.: “dump” Your economic weight is important. This means that you will have to put some skin on the game.
Would large institutions risk everything to use the protocol version without an upgrade? It’s an incredibly bold assumption.
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Source: bitcoinmagazine.com
