SpectrGen // XBT

Father. Vet. Engineer. Bitcoiner.
Building software and hardware for Bitcoiners

[SpectrGen // XBT @SpectrGen]

@chrisco @BLAKE2bMiner The best way to find the discussion on discord is to search for the keyword “MRR”. I haven’t heard a whole lot news on the matter, mostly war gaming so far

[SpectrGen // XBT @SpectrGen]

Keep up the pressure on mining rig rentals🔥

[SpectrGen // XBT @SpectrGen]

@chrisco There’s not a lot of material to chew on at the moment, but @BLAKE2bMiner recently released an article that may serve as a decent launching point for your discussions about it with the clanker. 👇🏻 https://t.co/PwLxcKMqI5

[SpectrGen // XBT @SpectrGen]

@Xbt_Live The maintainers don’t merge PRs until a new version is released. They layer on the PRs in a stack on the backend on top of a version of Bitcoin Core and build the releases that way. Fixes not showing merged in GitHub is not evidence of complacency.

[SpectrGen // XBT @SpectrGen]

@TronMonGone That looks great! Nice job 👍🏻

[SpectrGen // XBT @SpectrGen]

@DukeDukingtonRD The theory was tested and found wanting. In this case, I do believe that there’s a good chance that whatever the devs choose to do will find its way to become consensus, however currently they were inclined to let 45-day CBM expire so the plebs had to adjust their tactics.

[SpectrGen // XBT @SpectrGen]

@MarcosCand19501 @ViciTax @chrisco @GrassFedBitcoin Exactly, just review the proposal and if the concept is agreeable to you, just reply in the thread with "Concept ACK" and any other optional remarks you may want to add as a justification to support your decision.

[SpectrGen // XBT @SpectrGen]

I’ve decided to support @GrassFedBitcoin’s proposal for a 6-month rolling coinbase maturity extension (CBME) until RDTS expiry, despite my preference for 1 year fixed. I want to explain why, because I don’t think this is nearly the concession it might appear to be.

The objective has always been to discourage short-term, profit-driven hashrate from exploiting the network. The question is how best to accomplish that, and I think the rolling design matters more than people are giving it credit for.

The original 1-year proposal had a fixed expiration tied to RDTS. That creates a significant weakness: a block mined the day before RDTS expires could mature the following day. As we approach expiration, the deterrent progressively weakens.

With 6 months rolling, every block mined while the rule is active carries the full 6-month maturity requirement, including those mined immediately before expiration. This creates a substantial overhang of immature rewards extending six months beyond RDTS, for an effective period of up to 18 months. It’s a shorter lockup per block, but a more consistent deterrent throughout the entire period.

Now consider the consensus problem.

There’s broad support for 1 year, but there’s a meaningful difference between ~55% support and 75% support. We can continue arguing over whether the additional six months of maturity would produce materially better outcomes, but the reality is that nobody has concrete evidence to settle that question.

Meanwhile, we risk deadlocking the 6-month and 1-year camps until the existing 45-day fixed extension expires, or 45-day rolling takes effect. That would be a substantially worse outcome than either proposal.

Six months rolling gives the 1-year camp much of what it wants while requiring the 45-day camp to accept a significant increase in maturity. And let’s be clear, six months is still brutal for short-term miners. It doesn’t gradually acclimate the leeches to the network by easing restrictions as expiration approaches. It maintains the deterrent right up to the end, effectively easing them out rather than easing them in.

I understand the hardliner position because I largely share it. But there’s a difference between compromising on the objective and compromising on the means of achieving it.

I’d rather secure a strong deterrent with broad consensus than risk losing the entire effort over a marginal difference in expected outcomes that nobody can reliably quantify.

We have other serious problems demanding our attention, particularly the growing amount of spam making its way into mined blocks. I’d like us to resolve this and get back to fighting those battles.

[SpectrGen // XBT @SpectrGen]

Thanks for reaching out, and for the donation offer. I genuinely appreciate it and reciprocate the underlying sentiment. I'm a very private person and have only recently relaxed my anonymity a bit for practical reasons, so I'll pass on meeting up for now. It's great to see other XBT supporters in the area, though! Perhaps we'll cross paths at a local XBT event someday 🤝

[SpectrGen // XBT @SpectrGen]

@jdwagner17 Beautiful picture JD. I hope you're doing well

[SpectrGen // XBT @SpectrGen]

@MarcosCand19501 @GrassFedBitcoin

[SpectrGen // XBT @SpectrGen]

@nomadshiba @GrassFedBitcoin Yes, Mechanic’s PR is based on blocks, not wall time. It’s just easier to communicate the duration in ways humans can comprehend but I could’ve done a better job of explaining it

[SpectrGen // XBT @SpectrGen]

@nomadshiba @GrassFedBitcoin Yeah, IIRC, all of Luke’s proposals, including the 1 year, have had fixed durations due to the complexity of implementing rolling maturity based on dates.

[SpectrGen // XBT @SpectrGen]

@ViciTax @chrisco @GrassFedBitcoin If you like @GrassFedBitcoin’s proposal, at this point the best way to have your voice heard is to visit the PR on GitHub and “concept ACK” the proposal or add a reaction to the submission. You can find it, and several other proposals here

https://t.co/2IHhoGj4rp

[SpectrGen // XBT @SpectrGen]

@_Butter_F_L_Y @GrassFedBitcoin Yes, the idea is that nobody will want to revert to 100-block CBM, forcing consensus on what comes next.

With RDTS expiring on the same date, another soft fork is highly likely. The impending CBM reversion ensures it gets addressed in that same fork.

This was intentional.

[SpectrGen // XBT @SpectrGen]

@Eris_The_Red

[Luke Dashjr @LukeDashjr]

What is there Bitcoin consensus on? (Future proposals like rolling 45-day aside)

THIS IS NOT YOUR OPINION, just what you observe the community at large supporting.

[SpectrGen // XBT @SpectrGen]

@MundokAdam @cguida6 Awesome, thanks for the info! Seems like a good miner 🤙🏻