Bitcoiners should be careful not to let the failure of inflationary fiat result in #Bitcoin turning into nothing more than a new, non-inflationary* fiat.
This is a risk as people who don't necessarily care about decentralisation flock to Bitcoin for safety.
* for now (nothing prevents a non-inflationary fiat from adding inflation later)
@lukedashjr what does this look like, practically speaking, for non-devs?
selling all forked coins seems like a good first line of defense
@skells To differentiate between "real" bitcoins and "forked coins", you need a full node of your own.
A risk of decentralised networks, is that they're vulnerable to takeover by centralised actors if too much of the economy trusts those centralised entities to verify their transactions.
A minority selling forked coins won't likely be enough to prevent that.
as long as a large enough segment of the population refused to accept forked coins, people would be getting burned by accepting them.
people would spend their forked coins as fast as possible (like counterfeit cash) and get wise about how they accepted coins in the future.
"bad money drives out good" but it's very easy to identify bad with a node, so you'd quickly train people to check their change
1) what percentage of "intransigent minority" is required to effect this?
2) what are the incentives for inflationary cash and who are most tempted by them?
my sense is that most people would prefer to hold the real McCoy even if they tawked otherwise
@lukedashjr I have wondered about this. How could it be prevented?
Also, I remember hearing the suggestion that unmoved coins of a certain age be considered for distribution to miners after block subsidy ends, and that sounds like it could be a social attack vector when combined with certain surveillance mechanisms
@RealFake There may or may not be hardforks that could make it difficult to run a light wallet, but I'm not sure the community is open to that.
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