@jyn_urso 2/2
then BIP-110 Bitcoin fork will rise in value more than regular Bitcoin overtime. Let the market decide what is better. fork are important part of the process.
@jyn_urso 1/2
What is wrong with a fork? If non-monetary spam is not a problem, regular Bitcoin will continue to rise in value. If people send large amounts of non-monetary spam causing the regular Bitcoin node to become too centralized,
I am proud of BIP-110's supporters because of their steadfast commitment to standing up for what is true and right.
Courage and integrity define the BIP-110 movement, while fear and weakness define our opponents.
To the BIP-110ers: history will remember your name.
Today is the day that Bitcoin could see its first fork in 9 years.
12 months ago, I honestly thought Bitcoin had won.
I was wrong.
Whether BIP 110 is successful or not, here is where I stand.
1 - Bitcoin is money.
2 - JPEGS, NFTS and ordinals are stupid.
They always have been.
3 - Running a Bitcoin node is critical.
We literally fought the block size wars for this very reason!
Bcash failed because it centralized Bitcoin by making it tougher to run a node, and we FOUGHT back against this bad idea.
But today, when Bitcoiners are fighting back against bad ideas that makes it more difficult to run a node, it's being labelled "censorship?"
You can use mental gymnastics all you like, discussing the differences between relay policy, and consensus rules, but from first principles...
Bitcoin is money.
Bitcoin is only decentralized if we have a growing co-hort of node runners,
From first principles, we must defend node runners.
Another under appreciated measure of decentralization is the developers.
From first principles, we need a decentralized network of developers, who actually understand Bitcoin.
That's not me, I'm not technical, but I can tell you one thing.
Bitcoin developers should hold Bitcoin, and actually understand what they are working on.
This is the separation of money and state.
We need developers who understand this gravity of this battle, not engaging in "Feelings Friday" sessions.
4 - The taproot softfork was sold to us to make LN & multi-sigs more private, and helping node runners, by reducing data usage on-chain.
Instead we got ordinals, inscriptions and scammers on Bitcoin.
This was a failed upgrade. I was wrong to support this "upgrade."
So was every "expert" who sold it as a good idea.
5 - There is a world where BIP110 fails, but a better solution is implemented later on in Bitcoin, that does effectively squash spam.
Bitcoin monetary maximalists could lose todays battle, but win the war.
This soft fork has sparked a healthy debate in the space.
Bitcoin now has ≈20% of node runners choosing to run Knots.
And there is finally a lot more critical thought happening in the space.
We're questioning the background, and the incentives surrounding the people closest to Bitcoin.
The developers, the miners, and the node runners.
6 - More thoughts on the "censorship" strawman.
Imagine in the year 2028, we go through another softfork to make Bitcoin quantum resistant, or something.
Imagine if we unintentionally introduce an attack vector for a bad actor to exploit that soft fork, to weaken Bitcoins decentralization and function as money.
Imagine they do it in a way that "follows consensus rules."
Is it "censorship" to fight back against that attacker.
It's called identifying a problem, and fixing a problem.
It's spineless to bend the knee and enable a bad actor to actively hurt Bitcoin.
If it looks like a duck, and quacks like a duck, it is a duck.
7 - Overall thoughts
This is all good for Bitcoin.
I am a monetary maximalist, and the idea that Bitcoin is money something we need to protect.
Bitcoin is a revolution.
We need to stay vigilant against all forms of attacks.
We are very obviously in the "now they fight you stage."
Tornado cash
Samourai Wallet.
Coldcard
LN attacks
BTC Pay server
The acceleration of these implicit attacks on Bitcoin is a sign that they are threatened.
I feel like this view will be hated by people on both sides of the debate, but that's ok.
If Bitcoin somehow uses the inscriptions and Ordinals exploit to become more decentralized, and separate money from state, this tweet will show I was very clearly wrong.
BIP-110 is a temporary experiment, not a permanent change to Bitcoin.
If activated, it runs for 52,416 blocks — roughly one year — then expires.
The network gets a year to test it, evaluate the results, and decide what comes next.
No big updates tonight guys, I haven’t gotten sleep in a week.
There will be big updates tomorrow, @callebtc made a new 🤖 and its changing the game.
Donate to @OpenSats if you want to support the mission.
I love you all, goodnight.
@BlockstreamJade Could you enable the generation of seed with 6-sided casino dice via a software update? This is the only thing holding me back from switching to Jade. I don't like 8 sided or 16 sided dies.
NVK on Citadel Dispatch, June 2022.
Topic was how the US government could kill Bitcoin.
“You just make a bunch of bad, very bad decisions. You make the software awful, there is no documentation, and then you just add all the bugs that you can exploit later.”
More than a year earlier, his own firmware shipped an undocumented bad decision (the RNG rewrite) with a bug that would be exploited four years later.
Bitcoin Red Team update: we've grown to 16 globally distributed people working 24/7
We're running a large-scale ecosystem security audit across bitcoin code bases.
27.5 hours in, we've filed 4,962 findings across 390 projects. 85 critical and 635 high severity issues.
We're at 2.31 h+c findings per person per hour
@PortlandHODL@lightlight92119 Why is it always capped at 256 bits? Why not more if more is better? Does Cold card allow for example 200 dies rolls to generate a seed?
Yes.
At @Strike, we built an agentic system that reviews our codebase daily with frontier AI models, including @Kimi_Moonshot K3, searching for vulnerabilities alongside our security team.
We’ll share more soon and share what we can with the broader Bitcoin community.
URGENT: If you have EVER generated a seed phrase on a ColdCard, your bitcoin may be at risk.
Just recorded this emergency episode explaining what happened with @Rob1Ham of AnchorWatch.
Please watch and share with those in your Bitcoin community, especially other non-technical bitcoiners.