Jamie

[Jamie @Jamieone80]

@JamieNicolaou Nothing more permanent than a temporary government program

[Jamie @Jamieone80]

@saylor It’s just an attempt to bring Bitcoin back to when you first got involved no?

[Jamie @Jamieone80]

@GrassFedBitcoin @AdamBLiv We already got @aantonop like 10 years ago. It’s enough

[Jamie @Jamieone80]

@HodlTarantula Phase colours in the states are blue/red/black with neutral as white? What a trip out.

For us it’s red/white/blue with neutral as black

[Jamie @Jamieone80]

Great time to re-read the blocksize war.

“On one side, it was vital for industry to engage with developmental issues and help things progress, while some on the other side considered this as exactly the wrong approach.

Bitcoin was supposed to be run in a grassroots, bottom-up, user-driven fashion; lobbying from the top down by larger companies undermined the whole point of Bitcoin.”

Individuals run knots/BIP110.
Corporate interests are backing core.

[David Bailey🇵🇷 $2.0mm/btc is the floor @DavidFBailey]

It’s incredibly bullish for Bitcoin that the hostile takeover attempt known as BIP-110 failed.

This attack was a multi-year campaign of information warfare led by Bitcoin’s most eccentric developer. It involved launching a mining pool, a competing Bitcoin client, a coercive UASF, an unprecedented 55% activation threshold, a network-level Sybil attack to manufacture the appearance of node consensus, anonymous sock puppet accounts, brigading official Core communication channels like the mailing list and GitHub, vicious and libelous attacks on industry figures, selectively edited videos used for character assassination, cancel culture, fabricated Epstein/Rothschild conspiracies, boycotts, legal threats, CP allegations, and an especially disgusting targeted campaign against Core developers that resulted in at least one Core developer resigning and several others stepping back.

Even with such an intense coup effort, the attackers have yet to gather even 1% of the hashrate.

While BIP148 proved that miners cannot diverge from social consensus, BIP-110 proves that economic weight shapes social consensus and that Bitcoin governance isn’t determined by “plebs,” but by an agglomeration of all users: individuals, miners, industry, developers, and everyone else with a stake in the network.

While it’s comforting to know that consensus is not easily manufactured, the attack also revealed that Bitcoin Core’s coordination layer is very vulnerable and in need of better solutions than Twitter. This was the first attack on Bitcoin that was also widely powered by AI slop, and to be honest, it’s extremely difficult to combat. It creates confirmation bias, hallucinates away essential nuance, and a single low-effort prompt can consume 100x more effort and time to refute. I don’t know how we address that long term.

Beyond demonstrating Bitcoin’s resilience, the BIP-110 attack was also a massive drain on the community’s time, energy, attention, and cohesion. I’d wager that more than a million human hours have been wasted on this.

Once BIP-110 forks off, that resource drain ends. The 1% of users (if that) who align with BIP-110 will have destroyed their credibility and effectively filtered themselves out of the network. It leaves Core positioned to be more effective and reminds a new generation of Core developers that technical merit always trumps virtue signaling.

I also think the industry needs to wake up to its role in consensus and become more engaged with Bitcoin Improvement Proposals going forward. All stakeholders need to tango, or we default to ossification.

There’s more to be said on the topic, but this is already too long.

Keep doing your thing, Bitcoin.

[Jamie @Jamieone80]

@GrassFedBitcoin @DavidFBailey @mattkratter @DavidFBailey you keep saying hostile. What do you mean by that exactly?

[Jamie @Jamieone80]

@over21m @LukeDashjr I call people who went to Epstein island evil 🤷🏻‍♂️

[Jamie @Jamieone80]

@bensimpsonau I’ve had multiple issues with ING late last year and early this year. Had to stop using them unfortunately.

[Jamie @Jamieone80]

@saifedean Wait till you find out their office building in Sydney is being renovated and costing over 1BILLION dollars 😂😂😂 all good though taxpayers will take care of it

[Jamie @Jamieone80]

@MrSensitive888 @van00sa Yeah, except they call it “deemed disposal”. Unrealised gains tax would be an unpopular way to put it

[Jamie @Jamieone80]

@Breedlove22 My favourite podcasts have this level of production.

[Jamie @Jamieone80]

@jackmallers @Strike Can you please focus on Australia again

[Jamie @Jamieone80]

@BitcoinAnja Is not inconsistent if you understand what their messaging goals are, it’s all very intentional.

[Jamie @Jamieone80]

@SatoshiSound @ausbtcclub Yep

[Simon Dixon @SimonDixonTwitt]

Bitcoiners need to pay very close attention to what’s happening at the development layer.

This is an open-source boardroom.

Accountability sits with those writing the code, maintaining it and those committing pull requests need to be watched carefully.

Don’t trust.

Verify.

And when those who allegedly visited Epstein island start trying to discredit investigations and get upset about certain articles, that’s when you pay even closer attention.

That’s why we run nodes and keep an eye on miners too.

The financial industrial complex have repeatedly tried to infiltrate and we have to always stay alert.

Great work on this article.

Looking forward to Part 3.

[Jamie @Jamieone80]

@ausbtcclub I’d love to see this exact list but with who didn’t/got the covid vaccine

[Jamie @Jamieone80]

@jackmallers @Strike What happened to Australia Jack 🥲

[Jamie @Jamieone80]

@jonatack Isn’t the tipping to a bitcoin address still active?

[Jamie @Jamieone80]

@natbrunell Pathetic options. Lowest option should be 50% or below

[Jamie @Jamieone80]

@PmFlinty @bensimpsonau https://t.co/JJ0fBVQlff