Paul Sztorc

Founder and CEO @LayerTwoLabs | Creator | Blogger | Author BIP 300/301

[Paul Sztorc @Truthcoin]

BREAKING: New Bitcoin Fork

I am helping create a **new Bitcoin Hardfork** -- dropping this August, called "eCash".

- Your coins will split. For example, if you have 4.19 BTC, then you will get 4.19 eCash.
- You may sell your eCash -- or keep it. Or ignore it!

Vegas:

- Yes, I will be in Vegas next week.
- No, I won't mention this, on stage -- (that would be rude).

Our L1 Node...

- is a near-copy of Bitcoin Core.
- is Sha256d mined.
- forks via a one-time difficulty-reset -- to its minimum value. (So, mining will be crazy at first.)
- Yes, we will change the seed nodes, the name, the network magic, etc.

Codewise, the L1 will remain compatible with Bitcoin Core:

- We will continue to merge their changes (even the bad ones).
- The L1 will activate Bip300/301 via CUSF -- the core untouched soft fork. So, no lines of code will be changed, on the L1.
- The activation client will be published periodically (link below).
- We will do several bug bounty contests this summer.
- The client will be frozen 30 days prior to the fork.

Yes, there will be Drivechains:

- We have 7 in developement right now.
- Users can also submit their own.
- Drivechain is a vision of "competing L2s" -- this avoids the "dev capture" problem.
- These L2s are all Merged Mined. Miners automatically get free $.
- Our L2s are already capable of planetary scale, and onboarding 8 billion users.
- We also have a zCash-like L2, with strong privacy.
- Other L2s: Truthcoin (Prediction Markets), CoinShift (Decentralized Exchange), BitAssets (NFT etc), BitNames (Identity), Photon (Quantum Resistant).

Unlike BCH (the 2017 fork):

- There is no "Bitcoin" in the name. New name, new brand.
- You are getting advanced warning (4 months).
- We are replaying all txns (at first). We will release a coin-splitter tool.
- This is a permanent & sustainable fix to Bitcoin's problems (instead of a 1 MB to 8 MB temporary fix).
- Back in 2017, the BTC tech stack was strong, and expectations for Lightning were strong. Today, it is the reverse.

Video to follow.

[Senator Mak🖖 @Unbankt]

$1M Bitcoin in 2027

Everyone thinks @saylor and ETFs get us there. I think it’s @Truthcoin and the @eCashCom $BTC hard fork.

I sat with Paul Sztorc who made me realise eCash could be one of the most important forks in bitcoins history, stimulating our greatest bullrun ever.

The tldr is in August if you hold bitcoin you get the equivalent in eCash.

Now eCash on its own merit is already interesting. It’s led by Paul Sztorc who has spent years campaigning to improve bitcoins mechanical utility. He’s a certified legit Bitcoin OG who wants to add functional layers on-top of Bitcoin to enable Bitcoin to be the rails for the broader world of commerce.
He plans to achieve this with side chains that are sort of like L2s on Bitcoin. Imagine if Bitcoin had smart contracts and $btc was the currency for all apps in the world. 🤔so technically it’s already very compelling. You will get that for free just by owning Bitcoin.

But that’s not all. Paul has figured out a way to finance new forks. I believe this will trigger a new season of fork innovations. Basically fork wars 2.0 only this time it’s based around experimentation and innovation instead of outright kill Bitcoin.

Institutions have been all the craze recently but they have never been the source of crypto's biggest expansions.

The people who built this industry were.
The Cryptographers, the hackers, the builders and the cypherpunks.

Everyone is focusing on @MicroStrategy selling Bitcoin, meanwhile the upcoming eCash hard fork from @truthcoin is being wildly underestimated.

Technically, the idea of improving bitcoins mechanical utility is appealing but the event itself is also financially dramatic inducing a huge wealth effect for a whole new generation of Bitcoin holders and it may remind the market who actually drives innovation in this industry.

Every major crypto boom began when a small group of weird, intelligent, highly-convicted people challenged the status quo and built something new.

And while everyone thinks the next bull market comes from Wall Street, I think much more poetically it comes from the same place every other one did: The real Bitcoiners.

Anyway, the interview is linked below. I highly recommend you watch it and I’ll be writing my thesis that goes over wealth effects, network effects, financial incentives, game theory and how this all spills over into a bitcoin and crypto bullrun like we’ve never seen before.

https://t.co/uqjteFujvJ

[Paul Sztorc @Truthcoin]

https://t.co/88N9F7Kvgn

[Paul Sztorc @Truthcoin]

Or these people I guess

https://t.co/qYlKqQKzRG

https://t.co/lWBNG97T6g

https://t.co/8CEUL1Psok

https://t.co/0SSCLkRf7t

An open invite, every Wednesday at 2 PM

[MacroPulse Weekly @Macropulse98]

@Truthcoin You're a clown if you think this would be successful. All have failed before you, and you will fail as well.

[Paul Sztorc @Truthcoin]

If you are a hater, why not attend?

[Paul Sztorc @Truthcoin]

Twitter Space in 82 mins!

Featuring me!

Bring your questions / complaints

As always, it will be recorded, & uploaded to our new YouTube -- https://t.co/aoKBnwswyl as well as https://t.co/1AroyDvJfK

[Paul Sztorc @Truthcoin]

Or this guy
https://t.co/zAEqEVoiz6

[Calin Culianu @cculianu]

@Truthcoin FYI --

- eCash already exists (XEC)
- Bitcoin Cash has adaptive blocksize now and your summary of what Bitcoin Cash is .. is not accurate.

Bitcoin Cash is the real Bitcoin whatever it is you are forking off of is broken, captured, and hobbled.

[Paul Sztorc @Truthcoin]

@bigbottle44 https://t.co/yetBjAdhxW

Which I think is pretty clever.

It should result in: More ECX education --> higher value for all sol-ecash holders

[Paul Sztorc @Truthcoin]

Twitter Space in 82 mins!

Featuring me!

Bring your questions / complaints

As always, it will be recorded, & uploaded to our new YouTube -- https://t.co/aoKBnwswyl as well as https://t.co/1AroyDvJfK

[Paul Sztorc @Truthcoin]

@XBToshi I was in full agreement, until the end

Hard forking every 6 months is equal to an admin key, is it not?

[Paul Sztorc @Truthcoin]

@freedom_monk Correct

But you cannot attach a *story* to the new chain about how its "coin" is a better investment

[Paul Sztorc @Truthcoin]

https://t.co/Fi7KIxLk6n

[Paul Sztorc @Truthcoin]

@Rob1Ham @udiWertheimer Frankly, we should make a list

of all UTXOs

that do NOT belong to those who are 100.00% committed to privacy

and periodically delete them.

[Paul Sztorc @Truthcoin]

@Rob1Ham @udiWertheimer https://t.co/vGjgymNM2q

[Zack Voell @zackvoell]

"So you spent 6 years buying every local top to be break even on a position you said you will never sell. And now you're selling."

[Paul Sztorc @Truthcoin]

@itsLIRAN The growth is off the chart!!

It's the future

[Paul Sztorc @Truthcoin]

@rusty_twit is one of the:

- smartest
- most experienced
- most principled
- most popular
- most polite

Devs in the whole BTC ecosystem

And after **LEADING** the Blockstream c-lightning project -- one of the **TOP** big brain LN projects -- possibly the tip top...

...he is now (apparently) quitting Lightning, and quitting Bitcoin altogether, to go back to working on Linux.

//That// is how **doomed** and **bad** lightning is.

--

In Bitcoin we say: "don't trust, verify" -- but everyone has been trusting LN, not verifying.

The result will be an FTX or MtGox !

[Rene Pickhardt @renepickhardt]

Today is a sad day for the Lightning Network community as one of our very respected developers is moving on to new ventures.

At the same time, I am delighted that I had the opportunity to collaborate with @rusty_twit and learn so much from him. In any case, I wish him well!

[Paul Sztorc @Truthcoin]

@sesi_the_man yeah nvk is one of the worst Bitcoiners