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The best thing for Bitcoin is when dummies that want to change it move on to another coin

Hopefully covenants people move on next

232 sats \ 0 replies \ @BlokchainB 4h

hahaha

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The question I'm asking though is: would anyone other than a dummy do such a thing?

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Scammers looking to dump a shitcoin on dummies, but that means dummies are still implicated as the enabler.

If anyone has a counter-example to point to we could have fun with that.

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I could conceive of a "shadow bitcoin" much in the way we have shadow governments, but I'm sure after some thought would conclude it wouldn't work.

Had Luke been earnest, and able to strategize his way out of a paper bag, had the tools to do such a thing...

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Foreign adversaries are a logical other, I have no doubt a lot of shitcoin funding and Bitcoin FUD in the media is paid for by Chynah and London to muddle SIGINT for the chain and reduce Bitcoins ability to absorb inflation

But again you need dummies for it to be effective

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204 sats \ 2 replies \ @ek 9h

Would you leave bitcoin if it ever activated a covenant soft fork with a majority of the hash rate?

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272 sats \ 1 reply \ @justin_shocknet 8h -420 sats

It would take years after activation for it to effect me, if it did at all. So, unlikely, but impossible to be certain that far out.

Something dilutive like a supply increase/tail emission yes because at that point it's it undermines the value I place in it. That becomes more likely if covenants are active because of the incentive misalignment, but not a certainty.