People love to tinker and innovate But once you have the wheel, it’s hard to make step change improvements to its design Bitcoin may or may not be a wheel at this stage but it looks very close Changes to the fundamental security model or incentive structures is not tinkering at the margins of progress It’s an attempt to make a step change to something that has already gone through it and those with the hubris to think they can improve it fail to see the downside of losing the wheel forever