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Larry's Newsletter - Issue #12

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Greetings! Lot's Bitcoin drama this week and news out of China!
 

Larry Salibra

January 18 · Issue #12 · View online
The most interesting things I've seen in blockchain, tech, and our decentralizing world as seen from the world's border with China.

Greetings! Lot’s Bitcoin drama this week and news out of China!

Bitcoin
Bitcoin XT creator quits Bitcoin: The resolution of the Bitcoin experiment
Bitcoin Is Dead, Long Live Bitcoin
Blockchains and Banks, or Why Hearn's Post Isn't a PR Stunt
Bitcoin Classic gains support
Over the past week, Bitcoin Classic has gained support of the majority of miners and many other members of the community. If you’ll recall from last week, Bitcoin Classic proposes double block size from 1 to 2 megabytes.
To me (and many others it appears), this small block size increase was a brain-dead obvious thing to do. The scaling technologies proposed by Bitcoin Core: Segwit & the Lightning Network, won’t be ready for deployment for a half a year a best and probably much longer. A small block size increase let’s us kick the can down the road until Segwit & Lightning are ready. This is much better then letting the system “break” for 6 or 12 months. That the Bitcoin Core didn’t realize the political desire for a block size increase both at small-block-leaning Scaling Bitcoin and among the larger community shows their political disconnect.
Some are concerned that many of the “technically smart” Bitcoin Core developers will leave Bitcoin if Classic continues to gain momentum. Being good at engineering doesn’t mean you’re good at politics. Achieving consensus on what rules your consensus code enforces is as much a political problem as it is an engineering problem. If Bitcoin is going to succeed, leaders will need to emerge that are “smart” about both. There’s no room in Bitcoin for engineers that aren’t interested in dealing with politics or politicians who don’t have a grasp of the technology.
Crypto
David Chaum defends "backdoors" in his encryption system
Analyzing the $5.6 Million Exploit and Cryptsy's Security Failings
China
Getting Money out of China
Taiwan elects new president
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