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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