Damus
dustygrooves · 1w
I thought bip110 was a soft fork
Majestic Entity profile picture
@dustygrooves it is a permanent fork that will split off from bitcoin and be incompatible with bitcoin. The term "soft-fork" is totally negated by the planned forked chain split.

The reason why is because bip110 nodes will reject most valid bitcoin blocks. And there are at least two ways in which BIP110 transactions will be incompatible with Bitcoin. One is due to coins on BIP110 having a shared history with BIP110-mined coins which would be unrecognized on Bitcoin. Another is when transactions end up being mined on BIP110 instead of Bitcoin. Even if a transaction would otherwise be valid on both chains, these are two scenarios where it that cross-chain compatibility would break. Not debating at all here, just stating facts.