Fa-Q we are the grassroots, scaling was doing just fine until the ETHtarding shitcoiners and centralized pools started spamming/disrespecting the network. I'll start looking at "upgrades" when we get the shitcoiners off the base layer onto 2nd layers or at the very least use the blockspace efficiently!
One gripe I have is when you mention people and say stuff like "he was burned by what happened" without any elaboration. Some of us are new here mate! 😀
I agree that BTC needs to evolve so people can continue to use it and be self-sovereign but upgrades lead to unexpected and potentially dangerous results. Taproot spawned ordinals and inscriptions, causing higher fees-this is detrimental to the cause of self-sovereignty and potentially very threatening to the continuity of BTC. Developers need to balance their desire to experiment and make their mark on the world’s future monetary system against inadvertently introducing things into the system that may destabilize, harm, or even be fatal to it. This is what the “graybeards” are concerned about.
I can see peter having a convo in 5 years defending this podcast as not really understanding the issue in the same way as the block wars convo..... who knows if this is a mistake or not?
Be careful with your titles. The way it reads is "bitcoin needs some software called Vortex". I'm like whaaaaaat? Edit: I forgot to say what a great episode this is.🤛
Segwit limit is lagging behind improvements in storage and bandwidth, non-custodial LN moved nowhere from 2015 realistically. I hold both forks, but it's the biggest risk for BTC
> non-custodial LN moved nowhere from 2015 How do you know? It's completely decentralized, so you really have no idea. Anyone can easily run a node today, which was not the case in 2015. And there are hosted wallets, which still retain sovereignty. You dont know, because you're not really using Bitcoin
"a fundamental misunderstanding." 😂 Price goes up with the real Bitcoin and now the idiots are back wanting respect for nearly destroying Bitcoin. smfh
Don't forget Jonathon Bier's book The Blocksize War - it is easy to read and thorough in its coverage and explanation - it's like reading an action novel or script - and it's maybe 150 pages or so in paperback size.
I stacked my sats bro, I'm out. hahahaha, that was funny. As long we don't scale bitcoin, we won't reach full bitcoin standard (100-1000x value), otherwise bitcoin will become just another investment vehicle (10-20x value), but will run like a custodial bank.
Need to upgrade Bitcoin to make it accessible to the masses, not just the lucky middle class that managed to get in early and are now trying to ossify Bitcoin into irrelevance. Cardano fixes this.
I'm content to use BTC as a store of value. I'm not interested in using an appreciating asset, like BTC, for daily transactions, even if offered the opportunity. Can the desire to use BTC for daily transactions be limited to L2s on the bitcoin network? Does Vortex's proposals require the bitcoin network to be put at risk?
No LNHANCE does not put the network at risk due to the opcodes in it being extremely conservative. Hopefully most daily transactions will move to Layer 2 and above.
I don't buy this argument for smaller blocks... That argument doesn't scale with time. 1MB blocks do not have the same cost and centralization concerns today that they had 15 years ago. Not even close. And also, there is a cost/benefit tradeoff. This argument even ignores the fact that Satoshi originally designed Bitcoin with 32MB blocks, and only decreased that size to reduce the threat of the blockchain being spammed while Bitcoin was still cheap and young, a threat that no longer really exists, especially for, say, 8MB blocks.
Follow up: covenants seem to reduce fungibility and increase complexity thereby reducing security. Store of value seems to be working fine to me. Sounds like a bad idea. But i dunno shit
@@vortex6856 question about "unilateral exit". Can you definite this a bit more ? Does this mean in a shared UTXO I can move my "share" out of the UTXO in my own transaction e.g. to another UTXO or another shared UTXO ? From a user perspective,, Would it work just like having my own UTXO ? What are the limitations ?
Peter mentions alcohol and being hungover so much that he comes off as a guy who is an alcoholic. You can see in some podcasts it even effects his demeanor when he is suffering from one of his "hangovers". It pervades many subjects and situations he speaks about. Only drinkers think that its a respectable act.
Peter is one of the most thoughtful people in the space and he's one of the nicest people I've ever met in my life. KB warriors like yourself are lost in their own realities.
I understand the anger. Believe me, I do. I wish you all the best, Peter. I really do. I enjoy your shows and content. It has taught me immensely. I wish you nothing but continued success and good fortune. I will continue to watch and support both the show and Bedford. I apologize if I offended, wasnt my intention. You can always show me how much you disliked or liked my comment by sending some Sat's or even better, some BIT'S . I encourage your sending as much as possible to vent your disdain or support. Best of luck, Peter. Again, my apologies. bc1qe365yaas57r34wwxveeg8u9udpkk4x5u038lk7
What is the thing that happened with Andreas? I too miss him immensely
He still posts videos on his channel from time to time
He was shilling Ethereum
yeah, im wondering this too, he was the first pioneer
Yeah what was he “wrong” about? I don’t recall him becoming a shitcoiner…
He has his own videos he does, right? But yes he's great, would love to see him on more shows
Thanks so much for having me on Peter! It was a blast going down memory lane.
Great talk learned a lot 💯 hope you end up making a technically oriented podcast, vortex
Vortex! Dude! Memories! 2017 WCN and Mad Bitcoins days! Saw you on Tone Vays channel at the ATHs. Good to see you back.
Fa-Q we are the grassroots, scaling was doing just fine until the ETHtarding shitcoiners and centralized pools started spamming/disrespecting the network. I'll start looking at "upgrades" when we get the shitcoiners off the base layer onto 2nd layers or at the very least use the blockspace efficiently!
You were awesome today mate!! I really enjoyed listening to your thoughts!! Cheers
6:00 The high fee guys won and here we are They kept the blocks small and let anything in. Nice.
I thought Vortex was an upgrade for bitcoin
Lol me too
Hahaha same. I was like “what? What? Are we changing source code??” 😂
Me too.
Me too at first 😂 the wording is misleading 😅
Same lol
Normally I have to 1.5x speed up podcasts. Today I had to 1.5x slow down. 😄
I totally agree, did the same thing
Vortex! Dude! Memories! 2017 WCN and Mad Bitcoins days! Saw you on Tone Vays channel at the ATHs. Good to see you back.
Vortex rivals Andreas in his ability to explain this stuff. His clarity and sheer enthusiasm are unmatched. Glad he’s reappeared.
One gripe I have is when you mention people and say stuff like "he was burned by what happened" without any elaboration. Some of us are new here mate! 😀
I agree that BTC needs to evolve so people can continue to use it and be self-sovereign but upgrades lead to unexpected and potentially dangerous results. Taproot spawned ordinals and inscriptions, causing higher fees-this is detrimental to the cause of self-sovereignty and potentially very threatening to the continuity of BTC. Developers need to balance their desire to experiment and make their mark on the world’s future monetary system against inadvertently introducing things into the system that may destabilize, harm, or even be fatal to it. This is what the “graybeards” are concerned about.
This is why CTV is so conservative, it's a surgeon's knife compared to the axe that is CAT.
I remember Vortex from tbe early days of World Crypto Network.. always respected his integrity and honesty.
This guy is deep in the weeds of these proposals, and he if fighting HARD to get people on board. I am very cautious to jump on the bandwagon.
Just trying to raise awareness, not "fighting" or dooming.
Thanks for the shoutouts Vortex!!!
Never disappear. Trust me....Conviction! Strong hand.
We all need a break there "bitcoinmeister"...
That was a great one and loved the Unconfiscatable memory at the beginning
Yeah, my man Vortex
Sooo nice to see Vortex again.
I stacked my sats bro, im out. Hahaha. Ossification is selfish, it only favour the early adopters
This was incredible. Blown away. Keep em coming. This is the way!
Danny > the Mandalorian
Brilliant show!
I'm so old in Bitcoin I remember who Vortex is and when he "left the space" lol
Oh look at that, a developer pitching more development. Who could have seen that coming?
Yes! What an amazing surprise to see Vortex on the show!
Vortex is like pleb Mt. Rushmore! Great seeing him!
Bitcoiner since 2017 and I totally agree let’s keep Bitcoin as best money for ALL mankind.
!!! Great nostalgia
It's impossible to be poor and start using LN because of the fees to open a channel. For that reason, I think Lightning sucks.
For those who can't afford fees there will be layers even above lightning.
I can see peter having a convo in 5 years defending this podcast as not really understanding the issue in the same way as the block wars convo..... who knows if this is a mistake or not?
Skip to 11:46 avoid the bro - bonding.
or skip to 1:05:00 to save yourself the time
but but the bro bonding is so important!
We love you Vortex!!!! ❤
Great talk. I agree, we should never stop in improving bitcoin
Interesting Guy. Smart.
Yay, Vortex 🎉
Vortex!
Be careful with your titles. The way it reads is "bitcoin needs some software called Vortex". I'm like whaaaaaat? Edit: I forgot to say what a great episode this is.🤛
lolol
Only necessary maintenance on Bitcoin. Nothing else on the base chain. Simple stupid is what we need
Which is what CTV is, simple and stupid, or in other words extremely conservative in scope.
Segwit limit is lagging behind improvements in storage and bandwidth, non-custodial LN moved nowhere from 2015 realistically. I hold both forks, but it's the biggest risk for BTC
Please pump your altcoin somewhere else, thanks.
Yeah, because Bitcoin is just a CS project where you can rely on available storage and bandwidth.
> non-custodial LN moved nowhere from 2015
How do you know? It's completely decentralized, so you really have no idea. Anyone can easily run a node today, which was not the case in 2015. And there are hosted wallets, which still retain sovereignty. You dont know, because you're not really using Bitcoin
Never trust a Windows developer. This guy's literally a slave to Microsoft 😂
lolol totally, I wasn't able to build a career and raise a family thanks to .net development or anything...oh wait :)
"a fundamental misunderstanding." 😂 Price goes up with the real Bitcoin and now the idiots are back wanting respect for nearly destroying Bitcoin. smfh
My man! One of the most influential bitcoiners when I fell into the rabbit hole in February of 2017. “Early days, it’s still early days” 😅
It's still early days! :)
Don't forget Jonathon Bier's book The Blocksize War - it is easy to read and thorough in its coverage and explanation - it's like reading an action novel or script - and it's maybe 150 pages or so in paperback size.
I stacked my sats bro, I'm out. hahahaha, that was funny. As long we don't scale bitcoin, we won't reach full bitcoin standard (100-1000x value), otherwise bitcoin will become just another investment vehicle (10-20x value), but will run like a custodial bank.
Antonopoulos: from what I hear from him. Splendide and honest . Miss him .
Need to upgrade Bitcoin to make it accessible to the masses, not just the lucky middle class that managed to get in early and are now trying to ossify Bitcoin into irrelevance. Cardano fixes this.
48:00 Vortex is a top lad, but I would hope the recent xz vulnerability would change his mind on the idea that sunk time and support == trustworthy
What happened with Andreas?
I see you removed my comment, lol
Looks like the Bitcoin seraglio. I kept waiting for the girls in veils to come dancing in and serve wine.
What? Vortex is back? His Sunday shows were the best
WTF is a plug doing by a sink, that’s like buying Sol to make a killing🤦♂️🤦♂️🤦♂️😱😱🤣🤣
You don't think sol will go to 400?
I'm content to use BTC as a store of value.
I'm not interested in using an appreciating asset, like BTC, for daily transactions, even if offered the opportunity.
Can the desire to use BTC for daily transactions be limited to L2s on the bitcoin network?
Does Vortex's proposals require the bitcoin network to be put at risk?
No LNHANCE does not put the network at risk due to the opcodes in it being extremely conservative. Hopefully most daily transactions will move to Layer 2 and above.
Hear me out. There's a much simpler solution: increase the block size.
No way, not for at least 50+ years.
Fork off and be happy Vortex
No need, I respect consensus :)
Long time ago
Hi Peter can you get someone on podcast to explain Bitcoin power law.
Coindays destroyed on BTC and BCH are much closer than ratio of coins, a metric to keep an eye on
Where are the Vegas Halving Parties gonna be???????
Nice view, nice house…
It was a hotel room since Peter was only in town for a brief minute.
I don't buy this argument for smaller blocks... That argument doesn't scale with time. 1MB blocks do not have the same cost and centralization concerns today that they had 15 years ago. Not even close. And also, there is a cost/benefit tradeoff. This argument even ignores the fact that Satoshi originally designed Bitcoin with 32MB blocks, and only decreased that size to reduce the threat of the blockchain being spammed while Bitcoin was still cheap and young, a threat that no longer really exists, especially for, say, 8MB blocks.
You can argue with physics all you want but you won't win.
Does vortex always sound slightly sped up or something wrong with the upload?
I talk fast, something I've tried to deal with in public speaking for a loooong time.
That table definitely passes the test
Great content
Thanks!!
Upgrade 27:22
He protests too much
um what?
@@vortex6856
Did not explain why we need covenants at all.
Also didn't mention any trade offs of potential implementation....like a bad carsalesmam
Follow up: covenants seem to reduce fungibility and increase complexity thereby reducing security. Store of value seems to be working fine to me. Sounds like a bad idea. But i dunno shit
No changes to bitcoin ever. Satoshi is the reason it is what it is. If you think you got something better start your own coin, or make a layer two.
What the fuck is he talking about? Define your terms dude.
Happy to answer any questions.
@@vortex6856 question about "unilateral exit". Can you definite this a bit more ? Does this mean in a shared UTXO I can move my "share" out of the UTXO in my own transaction e.g. to another UTXO or another shared UTXO ? From a user perspective,, Would it work just like having my own UTXO ? What are the limitations ?
Who's responsible for colo(u)r grading? Or is everyone raging alcoholics?
100% free discussion and you're worried about the color grading...this is why we can't have nice things.
That would be me. I have one drink with dinner after I'm done editing.
@@vortex6856 come on man, it's clearly a joke.
Great to see you back, very exciting talk
Peter mentions alcohol and being hungover so much that he comes off as a guy who is an alcoholic. You can see in some podcasts it even effects his demeanor when he is suffering from one of his "hangovers". It pervades many subjects and situations he speaks about. Only drinkers think that its a respectable act.
Come down the pub and say that to my face
@@MrObnoxiousPodhe’s worried about you Petey. Calm down.
Peter is one of the most thoughtful people in the space and he's one of the nicest people I've ever met in my life. KB warriors like yourself are lost in their own realities.
He’s not an alcoholic he’s just English.
I understand the anger. Believe me, I do. I wish you all the best, Peter. I really do. I enjoy your shows and content. It has taught me immensely. I wish you nothing but continued success and good fortune. I will continue to watch and support both the show and Bedford. I apologize if I offended, wasnt my intention. You can always show me how much you disliked or liked my comment by sending some Sat's or even better, some BIT'S . I encourage your sending as much as possible to vent your disdain or support. Best of luck, Peter. Again, my apologies.
bc1qe365yaas57r34wwxveeg8u9udpkk4x5u038lk7
Idk vortex seems like a cheerleader
He's a parrot. Doesn't understand it tho. Talk to Brandon black pls