Lyn Alden’s recent report on Bitcoin Consensus provides a helpful rubric for defining Bitcoin stakeholder groups, their power dynamics, and the game theory of forks.
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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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