Steve Shadders! Starting with a guinea pig. First photo o…

2019, the year of infrastructure.

Building miner counts, mining distribution.

Training developers for infrastructure development.

Supporting wallet developers.

All good stuff. I can agree, they've made great progress. Team effort, in a sense.

Bitcoin is unfucked.

Yup. Such a different environment now. Great changes, more coming out of the natural adjustments from the incentive model beginning to actually work for once.

People are now putting capital at risk to build new business models...

YES. Precisely. The role of the entrepreneur is to do exactly that, to try to improve the production structure and therefore profit.

People underestimate the importance of this!

Announcement: One more hard fork, and after that, it's over.

That hard fork, Chronicle: An immutable time ordered record of events.

No precise date.

Adjusting the difficulty adjustment cycle back to the original, requires certain amount of tx volume.

I agree with this assessment... When revenue is based on transaction fees rather than a per-block reward, everything changes.

I'd be very curious to know what they believe the proper time/volume would be, and if/how it differs from my own thoughts.

Now it's time for us to step up and build.

2020: The year of functionality

Unlocking script unlocks boundless capabilities.

Bitcoin Scripting Language: Needs experts!!

Trying to motivate people to step up.

Become useful.

It's time to build.

Yes... yes it is.

nChain's public facing contributions have been infrastructure - soon, more that they've been working on will be released.

Good. Looking forward to that. We need anyone and everyone building. The more progress, the better.

He mentions how activity on the network directly leads to the network forming as it should.

YES. This is starting now... And it's great! I love watching it work in real time.

Nodes that aren't being paid to mine are doing nothing useful.

^ Almost... They could be consuming the chain to provide value.

But then, is that really a node? :)

This is a semantic issue many have... It's important to still bridge that semantic gap.

Talking about the efficiency in terms of resources used...

This is how economies actually work. It's not all about dollars! Good for Shadders to be talking in these terms.

I'm getting that this portion of his talk is an attempt to describe how the Mandala network forms, in terms of miners/nodes vs SPV... The physical network level.

And all of this is spontaneous order. Market level, not design, as he says.

Shadders calling out the BitcoinSV team. Getting them on stage.

Decent sized team. Low quality picture on the screen I'm paused on, but I count 17, not including Shadders? Not bad.

"These are the people that gave Bitcoin back"

I think that was a good move, though I know people don't like it.

We need to celebrate the builders. The people who are in the weeds, getting the thing done. How else will we encourage more of this?

Related
https://twetch.app/t/635c8ad821f3c623272d2c6d30b4e7d9e434b515a9fb9ebc82fbc544337c0a44

Maybe you should make a semantics lexicon.

Oh gawd no lol

I can just barely do it justice for myself. I don't know that I could create a good lexicon.