Bankless Nic Carter: The Second Bitcoin Civil War
Feb 27, 2024
Nic Carter, a renowned Bitcoin commentator, joins to dissect what's termed Bitcoin's second civil war. He explores the ideological rift between purists and advocates of broader functionalities like ordinals. The conversation covers the challenges and innovations within the Bitcoin ecosystem, including the Lightning Network and potential Layer 2 solutions like BitVM. Carter also delves into the role of venture capital and the necessity of adapting to ensure Bitcoin's relevance against emerging technologies, making for a thought-provoking discussion.
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Bitcoin Civil War
- A Bitcoin "civil war" is brewing between fundamentalists and moderates.
- Fundamentalists want Bitcoin only for BTC transfers; moderates want broader functionality.
Non-Monetary Bitcoin
- Bitcoin has always contained non-monetary data, even from the genesis block.
- Luke Dash Jr. famously inserted Bible verses into the blockchain in 2011.
Bitcoin Implementations
- Multiple Bitcoin implementations are unlikely due to a focus on one dominant software.
- Filtering out certain transactions risks creating a shadow mempool.