JUST IN: ๐บ๐ธ Treasury Secretary Scott Bessent says the U.S. Government has seized $1 billion of Iran's crypto:
"Just outright grabbed the wallets. Some of them may be typing in right now and might not realize their wallet had been grabbed."
It's important to realize that much of the slowness one observes in node validation and syncing isn't an inherent limitation of Bitcoin, but an artifact of an inefficient reference implementation-- one that "can't" be significantly changed due to its brittleness in deciding consensus. This is as a result of a belief that "the code is the spec" which results in code that cannot be materially reengineered or rewritten without risk of a chain split. We need to move towards a formal specification of consensus and a multiplicity of modern compliant efficient clients. We shall not trust but verify. https://t.co/1XbNZEEHSv @hornetnode
@THBitcoinBuddha There are two classes of significant problems that arise from the unnecessarily poor performance. (1) increasing calls to abandon validation (abandon Bitcoin), and (2) increasing calls for censorship (abandon Bitcoin). We have always seen this as existential work.