Author: Russell O'Connor 2022-03-12 13:34:59
Published on: 2022-03-12T13:34:59+00:00
The email exchange discusses the potential risks of mandating eventual forced signaling as a contender to the Speedy Trial design. There were concerns that a significant fraction of mining power would go offline if the firmware required for supporting signaling was not readily updated or if there were hardware-related issues. Users can opt-out of taproot activation by not using it, running an older version of Bitcoin Core, or forking the source code. A mechanism of soft-forking against activation exists, but coordination takes time. If users oppose a proposal, they can use activation as a trigger to fork out of the network by invalidating the block that produces activation. However, this may lead to a fork, and without the economic majority enforcing their set of rules, a miner cartel may enforce rules that users do not want. Money does not have economic value if no one else wants to trade it, and future soft-forks should consider user opt-in functionality.
Updated on: 2023-06-15T17:55:55.440747+00:00