Is ossification good for the future of Bitcoin? This simple question is extremely difficult to answer because the decentralized nature of Bitcoin means that it can be different things to different people.For some, it might be a censorship-resistant peer-to-peer payment network, for others it’s a store of value, while others might see it as an emerging smart contract platform, among many other things.However, all these different perspectives require different approaches to how this protocol is being developed. Therefore, a debate is ongoing about Bitcoin ossification, or whether this protocol should stay open to changing its key rules and experimenting.Some view ossification as a safeguard for security, stability, and institutional trust, while others argue it could hinder innovation, scalability, and competitiveness.As Bitcoin continues to evolve, the key question remains: Should it remain flexible or be set in stone?...
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0 sats \ 0 replies \ @jgbtc 2h
Ossification happens when most users reject whatever changes are being made/proposed. It's inevitable that this will happen more over time.
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0 sats \ 0 replies \ @SimpleStacker 3h
Hmm, this website has a very strange scrolling behavior that I did not appreciate.
But anyway, on ossification, they definitely hit the nail on the head that the debate really hinges on what you see Bitcoin as: a store of value, a medium of exchange, or a technology platform.
I personally think Bitcoin should stick to being money. Developing a P2P decentralized storage or operating system should, IMO, be left to other technologies.
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