Bitcoin's spam wars are heating up. Good.
Here's the state of play. Bitcoin Core changed the OP_RETURN limit. Bitcoin Knots pushed back. And now BIP-110 is on the table, a soft fork with seven consensus-layer changes that could reshape what gets into a block, with activation scenarios pointing at August. Handled wrong, a soft fork can still split the chain.
It's one of the most important and most underreported fights in Bitcoin right now. Most people cheering or booing haven't actually read what BIP-110 proposes, or what it doesn't.
You see, this is what money with no central authority looks like. Nobody issues a decree. No committee settles it for you. The rules get argued out in the open, by the node runners and miners and developers who have to convince each other, not command each other. Messy? Sure. But that's what's great about Bitcoin.
That's exactly why we did it in the open. Conrad, ForrestHODL, and I sat down and broke down Core vs Knots, what BIP-110 actually does, the lessons from the 2017 blocksize war, and what miners likely do as August approaches.
Watch it, then decide for yourself. Signaling is a choice you should make informed.
@ForrestHODL
New York: it's hot out there, and the power grid is working overtime to keep us cool.
Set your AC to 78 degrees, turn off lights/electronics you're not using, and unplug what you can.
Our City is doing its part too: maintaining the 78 degrees rule in our buildings, dimming/turning off our lights during peak electricity demand, asking private partners to do the same, and powering down non-essential equipment.
A stable grid means the AC stays on, and lives are saved. Let's ease demand — and get through the heat — together.
@sean_ferenci@PeterSchiff@JoeSquawk Yeah but at least clothes keep me warm and covered. What does jewelry do? Nothing, except signal status and work as money.
@sean_ferenci@PeterSchiff@JoeSquawk Jewelry is hardly a use case. The point of jewelry is just to be flashy. People pawn their jewelry all the time. It’s just another form of money.
Inflation affects healthcare, too.
Why would a hospital or a clinic sell a cure for a one time fee when they know that money will be worth less in the future? This is why we have a “sick care” system that prioritizes treatments that keep collecting payments.
Bitcoin fixes this. 21 million Bitcoin. A money that gains value over time.
Now, treatment facilities can sell cures and actually benefit. Their money won’t depreciate if they collect one big payment, and everyone would be willing to pay for a cure.
This is why Bitcoin.
The writing is on the wall.
40T in debt, almost 2T in annual interest, 30% of receipts.
If you don’t see whats coming, with all of the information out there today, then you will have nobody to blame but yourself when it comes crashing down.