Steve Lee from Spiral and Ren from Electric Capital join The Gwart Show to talk Bitcoin consensus! We cover how Bitcoin changes, stakeholder weight, and the future of protocol upgrades like covenants.

Follow our guest on Twitter: @moneyball @0xren_cf

Read our paper: https://bitcoin-cap.github.io/bcap/

00:00 Start

01:00 Introductions

03:01 Partnering for the paper

04:25 Motivation to write paper

08:17 Reluctance to define a BTC consensus process

12:20 Defining the stakeholders

13:48 Consensus game theory

15:51 Blocksize war

20:36 Learnings from the Blocksize War

22:33 Signaling & other activation routes

26:13 Bounty claim attack

29:44 Are miners up to speed on covenants?

31:59 measuring state of mind

34:38 Education

36:45 Self custody = power

40:59 Role of influencers

45:20 Current state of possible changes

49:39 Echo chambers vs reality

53:42 Will we get to a breaking point?

58:16 OP_CAT

1:01:44 Productive paths to change

1:04:47 What does Bitcoin NEED?

👋The Gwart Show is sponsored by Ellipsis Labs. Ellipsis Labs is building Atlas, the blockchain purpose-built for verifiable finance. You may know of Ellipsis Labs by their first product Phoenix, a fully on-chain orderbook DEX that’s done over 50 billion dollars in unincentivized volume. If you’re interested in working for a mission-driven company, Ellipsis Labs is hiring engineers passionate about crypto and finance to work on Atlas. You can learn more and apply on Ellipsis Labs’ Twitter “at Ellipsis_Labs”. Don’t forget to check out Atlas too, @atlasxyz on Twitter.

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