A Brief History of Bitcoin's Future
summary
Argues Bitcoin’s core is trustlessness and that the real threat today is pool-driven mining centralization: pools pick blocks and can censor despite distributed hashpower. Describes built fixes—Stratum V2 (beta, needs adoption), attempts to revive P2Pool and new braid‑pool work—and specific attacks: Bitmain running secret front pools and cutting fees to squeeze entrants. Warns expressive scripting/MEV could leave only three companies able to build profitable block templates, and urges investment in decentralizing infrastructure now.
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chapters (9)
- 0:00Introduction and Background on Bitcoin
- 2:36The Core Property of Bitcoin: Trustlessness
- 4:58The Block siiz Wars and Bitcoin Centralization
- 7:28Centralization of Bitcoin Mining
- 9:53Centralized Mining and the Need for Decentralization
- 12:29The Importance of Stratum V2 for Miners
- 14:57Centralization Risks in Expressive Scripting
- 17:24The Pressure on Politicians and Regulators
- 20:10The Importance of Decentralization in Bitcoin
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