Lyn Alden’s just dropped a report a little different than her normal Bitcoin & macro focus: Bitcoin Consensus. She takes us through defining the various stakeholder groups and how the game theory works as these groups’ influence wax and wane.
Notes:
• What is an Economic Node
• What are the Six Bitcoin Stakeholder groups?
• Protocol Developers power
• Game Theory of stakeholder power dynamics
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Timestamps
00:00 – Intro
02:52 – Lynn’s Background & Bitcoin Research
05:16 – The Six Bitcoin Stakeholder Groups
08:09 – Economic Nodes
12:03 – Miners vs. Nodes
16:33 – Protocol Developers & Their Influence
20:19 – Podcasters
23:08 – “State of Mind” Concept
29:26 – Should More Stakeholders Be Involved in Consensus?
31:43 – Game Theory Behind Bitcoin Consensus Changes
34:31 – Weaknesses & Risks in the Process
38:52 – Future Soft Forks
39:15 – Lyn’s View
42:46 – Potential Future Optimizations
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