antbit #BIP-110

#Bitcoin only | Knots, BIP-110, DATUM🌊 | Stay sovereign

[antbit #BIP-110 @antbit]

If you've been on the fence, recent BIP-110 blocks being mined are a signal that momentum is starting to build.

For Bitcoiners who want to keep spam off the network and push back against Bitcoin Core's current direction, this is your time to act.

Here are the basics:

1. Run your own node (Start9, Umbrel, Windows, or Mac).
2. Run Bitcoin Knots and signal for BIP-110.
3. Point your home miners and/or rent hash rate through Ocean and Datum.

You can also direct your hash rate to @_PyBlock_, which offers a Datum gateway that runs Bitcoin Knots and BIP-110.

Help secure the Bitcoin network and get started with BIP-110.

[Matthew R. Kratter #BIP-110 @mattkratter]

Bitcoin Plebs Call To Arms (BIP-110)

[Jim @elkrun21]

This is what gaslighting looks like.

Use Bitcoin (the money) however you like. Use it in a maximalist, capitalist, technologist or fundamentalist way … or any other “ist” way you want to label yourself.

But Bitcoin (the network, the protocol) is for one thing … decentralized, immutable money. Allowing the protocol to be used for anything lease, especially fiat-centric assets, will be the death of bitcoin… as immutable money.

[antbit #BIP-110 @antbit]

@FieldNas

[Glenn Cameron @GlennOnrampBTC]

Right, can we kill this one off. I keep seeing people say STRC's yield went up because interest rates went up.

That's backwards. Rates went down.

Let me explain it dead simply, so it's crystal clear.

There's a thing called the base rate (SOFR). It's the interest rate the Fed sets. Think of it as the floor under every other rate in the country.

Fed puts it up, borrowing gets more expensive for everyone. Fed cuts it, everything gets cheaper.
Mortgages, car loans, savings accounts, all of it moves with that one number.

Now STRC. When it launched last July it paid 9%.
Today it pays 11.5%. So yes, the payout went up. No argument there.

The Saylor fanboys say "rates went up, that's why"

Except the Fed didn't raise. The Fed cut. Three times.

September, October, December. The base rate went from about 4.5% down to roughly 3.6%, and it's sat there ever since. Lower than the day STRC started.

So digest that for a second. The base rate, the one everything gets measured against, fell by about three quarters of a percentage point.

And STRC's payout climbed two and a half points in the other dorection

And here's why realizing that matters. And its simple once you see it.

Any rate you're ever offered is two things stuck together. Part of it is just the base rate, what everybody pays.

The other part is a markup for risk. Its called a "credit spread"

How nervous the lender is about getting their money back. The dodgier they think you are, the bigger that markup.

Think about your own mortgage. Your rate is the central bank's rate plus a bit extra the bank tacks on for how risky you look. Now picture the central bank cutting rates, but your mortgage rate going UP anyway.

What just happened there? Rates didn't rise. The bank decided you got riskier. The whole increase, and then some, is them pricing you as a worse bet.

That's STRC. Exactly that.

Strip out the base rate, which fell, and look at what's left. The risk markup (in technical jargon "the credit spread widened")

At launch it was about four and a half points. Today its pushing eight. Near enough doubled.

That isn't rates. It can't be rates, rates went the wrong way. That's the market quietly saying this thing got a lot riskier.

And there's one more thing that makes it worse, not better.

With a normal bond, the market sets the yield by trading the price up and down. With STRC the company sets the rate itself, by hand, every month, and they've said the whole point is to keep the price glued near $100.

So when you watch them crank that rate up seven times, you're not watching the market bid. You're watching the company itself admit, over and over, that the last rate wasn't enough to hold the line and keep it at par. They're the ones reaching for a bigger and bigger markup. Just to stop their own product sinking.

So next time someone tells you "it's just rates." It isn't. Rates fell. The Fed's been cutting the whole time. The only thing that went up is the price of getting people to hold this thing.

And that price has roughly doubled in under a year.
Funny how that bit never comes up.

And before some smartass pipes up with "that's not the right benchmark."

Take it up with Strategy, not me. SOFR is the rate written into STRCs own prospectus as the floor.

Their document, their choice of yardstick. So if you don't like the comparison, you're not arguing with me, you're arguing with the people who built the thing.

[antbit #BIP-110 @antbit]

@Bcuz21 Eight years is no small feat. You made a choice that saved your life and kept making it every day since. That’s not luck, but rather discipline. The hardest part isn’t putting the glass down, it’s walking away from the people who want you at your worst. Here’s to many more. 👏

[antbit #BIP-110 @antbit]

@AdamSimecka Nice 😂

[antbit #BIP-110 @antbit]

@MarcanoFilms @cguida6 And that’s the way it should be. Nicely done!

[antbit #BIP-110 @antbit]

@btcefe Incredible view!

[antbit #BIP-110 @antbit]

@venorusprime @mattkratter Agreed, I can attest to that. Became a fan during the Trader University days and never looked back. Absolute legend.

[Softfork Mechanic #BIP-110 @GrassFedBitcoin]

This time they just have to over"power" a bunch of conceited developers.

[antbit #BIP-110 @antbit]

Another excellent video.

Saylor spent years telling people not to shitcoin. Now he's retweeting DeFi protocols built on Ethereum tokens and hawking preferred stock to retail investors on crypto podcasts.

Plebs get Stretch and deep state actors get the Bitcoin. That isn't hyperbitcoinization, that's retail holding the bag.

Bitcoin doesn't need to be turned into money. Satoshi already did that in 2009.

[Matthew R. Kratter #BIP-110 @mattkratter]

Stacking Sats For Families, Or For The Deep State?

[Motorist ┃ 🪢BIP110 @BitcoinMotorist]

BIP110 summer road trip continues
#BIP110Summer

[Dathon Ohm / BIP-110 @dathon_ohm]

Another miner joins BIP-110!

We welcome Black Jade Advisors, the first miner to lottery-mine a BIP-110 block.

Consensus marches on!

https://t.co/XeGom1W4zj

[antbit #BIP-110 @antbit]

@2140data

[Daniel Prince @Princey21M]

The latest episode of Once Bitten has just dropped. It's with Maaaaaaaaaaattheeeeeew Kratter.

We discuss Matt's journey from TradFi to Bitcoin, his critiques of financial engineering and loan products, and the ongoing "Spam Wars" and BIP-110 soft fork debate within the Bitcoin community.

@mattkratter

https://t.co/3G89AgNGvK

[antbit #BIP-110 @antbit]

@Princey21M Excited for this one

[BoozyTheClown | BIP-110 @TheBoozles]

Bitcoin does not belong to 5 companies that don't give a shit. Bitcoin does not belong to scammers. Bitcoin is money!

[hodlonaut #BIP-110 @hodlonaut]

Pests don’t like pest control

[antbit #BIP-110 @antbit]

@citrea_xyz Nope.

[Jim | RDTS | Bitcoin, not jpegs @venorusprime]

The crash in #Bitcoin price action means unprofitable miners are turning off their operations.

For those miners who are staying the game, the next difficulty adjustment will provide an excellent opportunity to find blocks.

Since spam miners are fiat focused they will be more likely to turn off their machines.

Since BIP110 miners measure profit in more than just sats alone they are more likely to keep mining.

That means BIP110 miners will constitute a greater percentage of a smaller network for the next difficulty period.

If you are a bitcoiner who wants to take an active role in making Bitcoin hostile toward spam the next epoch presents a great opportunity to get involved in a significant way.

Learn why and how here: https://t.co/wxYfzSs0w0 & https://t.co/xR8VkpCRpB

[antbit #BIP-110 @antbit]

@FieldNas This is the way.