Even though the Bip110 failed it doesn't mean it didn't have value. It brought awareness to the whole Bitcoin community as it relates to spam and how big finance has a growing influence over Bitcoin. For me personally, and I believe so many others, I learned a ton in the last 8 months or so. All about nodes, servers and signaling. I like the idea of restricting Bitcoin to a money focus and what goes on the chain. I used my nodes to raise my hand and I got a vote. I like that about Bitcoin. At least I get to voice my opinion. When did fiat ever give me that option? The big economic interests... big miners, treasury companies and Big ETFs all see Bitcoin differently than I as an individual. It's just the way things are. As we grow in Bitcoin over the next 30 years, there will be times when individuals group together and make a impact. For now we ride.
One thing the recent hardware wallet RNG discussion reminded me of comes from my previous career.
I owned and operated casinos in Colorado. Before a slot machine could ever be placed on our casino floor, manufacturers couldn't simply claim their random number generators or payback percentages were accurate. Those claims had to be independently tested and certified by the Colorado Division of Gaming.
There were many competing slot machine manufacturers, just as there are many competing hardware wallet manufacturers today. Before either the casino owner or the public was put at risk, the RNG had to be independently tested and verified.
Bitcoin is obviously different. We don't want a government regulator certifying hardware wallets.
But the underlying principle still applies:
Critical security claims shouldn't rely solely on marketing. They should be backed by independent verification. (Think "The Gold Standard" of Bitcoin wallets)
Perhaps this is an area where the proposed Bitcoin Consortium could provide real value by publishing transparent testing methodologies, commissioning independent security reviews, and issuing public reports on entropy generation and other security-critical functions.
Trustworthy systems can't be left solely in the hands of a marketing department.
It's it a Ponzi?
How can anyone know anything for sure now days?
But anyone claiming Bitcoin as a Ponzi while at the same time refusing to point out that money printed to take value from common people's saved wealth is a much more sinisterly designed scheme than Bitcoin ever could be...
I don't trust advice from people that aren't trying to exit the current system in some way.
I live mostly in the present. But I often place myself 30 or more years in the future to reflect on what my old future self might believe about what my present self was doing.
I never wish myself to be younger, but I can imagine my future old self jumping at the opportunity to live what I'm living right now.
How to Fail: A skill I teach my football players and students.
Learning how to fall (failing) is one of the unsung skills you must master to build a rewarding life.
When I was young, I didn't think much about getting 'good' at falling down, but I certainly felt the pain of those falls before I learned how to handle them. As a dirt bike rider and football player, I fell over and over again. In the beginning, the falls aren't that traumatic; at a basic level, hitting the ground doesn't require much skill. But as you reach higher levels in any activity, the falls become more intense, requiring the ability to fall gracefully.
Broken collarbones and fractured wrists made it easy for me to see how the mechanics of a fall truly work. Life and business difficulties aren't much different. You will fail, and as you grow, those failures can become significant setbacks if you don't know how to land.
Just as you learn to 'roll with the punches' in physical sports, you must learn how to recover, learn, and rise to the occasion repeatedly in life. Getting good at failing provides the foundation you need to take on bigger projects and move to the next level.