DeMagz

Simple Thoughts on Hard Forks By David Paul 1/  Simple thoughts on hard forks: there's an obvious tradeoff between innovation and stability.  "no hard forks ever" is an amazing schelling point. 2/ when I was first diving deep into bitcoin in 2014-2015, I (mistakenly) thought it should embrace forking to upgrade and avoid obsolescence.  Evolve or die.  By 2016 though, I realized that Bitcoin occupies a unique competitive spot, and fell firmly into the "no HF" camp. 3/ Bitcoin (the layer 1 protocol) can't compete on innovation.  Changes to layer 1 would be like trying to upgrade a car into an airplane.  But it can win on stability.  And that desired innovation can come from layer 2s. 4/ newer protocols occupy a very different competitive spot.  A new protocol can't compete on stability (in the HF sense), it has to compete on features.  Especially while small and immature, they should iterate aggressively. 5/ this is the same dy...