Month: February 2025

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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The first phase of Gaza’s ceasefire is near its end, but planning for the even more fraught second phase has hardly begun. What chance for near-term peace? We examine the harmful outcomes from the Trump administration’s slashing funding for America’s science institutions (9:45). And “I’m Still Here”, an Oscar-tipped film, confronts Brazilians with a dark past many had chosen to forget (18:35).

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Alabama

• Sen. Tuberville is ranked as #4 at CPAC straw poll of favorite senators
• Veterans rally in Montgomery to oppose restructuring bill for VA
• AG Marshall offers bill to address the backlog of criminal cases in state
• Damien McDaniel has murder charges increased from 11 to now 14
• Sting operation in Opelika lands 11 men in jail for seeking sex with a child
• This week many AL colleges & universities will waive application fees

National

• US House passes spending bill that was promoted by President Trump
• Ukraine agrees to mineral rights deal with US, deal to be sealed this Friday
• DHS secretary says leakers of ICE raids are being found and will be fired
• FBI director starts investigating James Comey for honeypot plan with Trump
• DNI director will fire those involved with sex chat rooms during work hours
• Director of Non-profit created by Stacey Abrams of GA to step down after campaign finance violation
• An ethics complaint is filed against congressman Dan Crenshaw for shady behavior in past and latest threat to "F**kin kill Tucker Carlson"

In this edition of “Victor Davis Hanson: In His Own Words,” Victor Davis Hanson discusses a recent heated exchange between President Donald Trump and Maine Gov. Janet T. Mills at a White House meeting of governors.

The confrontation centered on Trump’s executive order banning males from participating in female sports, which Mills resisted. 

Hanson argues that Mills’ stance is not only out of line with public opinion, but also basic constitutional principles:

“[Gov. Janet T. Mills’] wrong on public opinion and she’s wrong on sporting authorization. She’s wrong in the idea that a state law can supersede a federal law.

“Because, if she were right, she would destroy female sports as we know it. …

“Under our Constitution, when a state and federal law are in conflict, the federal law predominates. The alternative is something that caused the Civil War. … 

“I would remind her that there’s some things that she’s not thinking about. No. 1, that issue, according to liberal polls, is about 80-to-20 in favor of keeping female sports for biological females. The person, most recently, who won a pole vault contest in Maine was a biological male. And they usually have about a 20% higher rate of performance in pole vaulting because of their muscular skeletal frame. …

“Remember, women who transition to men, that is biological women, do not win male sports. And that should tell you something. It’s that the idea of genderism, transgenderism, is not a third sex. It’s primarily predicated on whether you’re a biological male or a biological female. If you’re a biological female, you do not do well as a transgendered male.”

For Victor’s latest thoughts, go to: https://victorhanson.com/

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