Against The Inevitability Of Bitcoin

TL;DR- Be optimistic, but not fatalistic. Success still requires action. The article is worth reading in full, though.

Even if we accept the argument that the success of bitcoin as an asset due to its fixed supply and network effect is of high certainty, that does not guarantee the success of Bitcoin as a platform for a “full stack,” peer-to-peer financial ecosystem.

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Failing to correct for this will result in the wider Bitcoin ecosystem suffering from choke points and resilience shortcomings which can and will be easily leveraged by adversarial actors to attack the network and its participants.

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However, some will argue that ossification sooner rather than later is actually desirable as a defense against malicious changes to the Bitcoin core protocol, a la SegWit2x. This attitude entirely ignores and greatly increases another exploitable attack vector: stalling and preventing beneficial changes to the protocol which can enable more robust peer-to-peer and self-custodial solutions on subsequent layers. Indeed, after the spectacular failure of SegWit2x, any adversary would likely conclude the stalling strategy to be far more viable.

EDIT: Didn't propagate because lemmy.world was down