#asknostr #bip110
nostr:nevent1qqsr8l7y8gsens6gmctxl3xpza2vqcanywj6me4ujl3z3kqt2qx9gnq8z3tcp
It could work but it's not guaranteed and the chances are super low. Think of it this way:
As of today, all the BTC SHA256 nodes accept both transactions that are valid in the #BIP110 and non BIP110 chain.
All the BTC SHA256 nodes enforcing BIP110 accept only transactions that are compliant with the mempool filters of BIP110 and also they accept only blocks that implement the mandatory signaling on a chain that requires the signaling since the split.
The BIP110 chain has been adding new blocks with BIP110 signals only and those blocks have been very few since the split. The "normal" SHA256 chain has been adding many blocks since the split though, so there have been many new confirmed UTXO.
So it's 29th August today and you send your BTC from the CEX to your hardware wallet, this will happen:
The CEX's BTC node will propagate a UTXO based on previous UTXO to send BTC to your address. Note that CEX will have many UTXO constantly, since they transact often.
Chances are, their UTXO is based on UTXOs that were not mined on the BIP110 chain since the split but are only present on the "normal" chain.
In other words, if that UTXO today uses UTXOs that were not mined on the BIP110 chain since the split, the transaction won't be valid on the BIP110 chain because there is no such UTXO since the split.
In the rare case that the CEX uses an UTXO that was present *before* the BIP110 chain split that happened earlier this month and they create a new UTXO to your address, then that transaction could also be seen as valid on both chains and nodes + miners could pick it up on both sides of the chains, including it in their blocks, effectively doing the same transaction on both chains. When the recipient address is controlled by your own private keys, it's the best case, you have effectively ensured your coins on both chains. Considering that the chains are quite different since the split, valid UTXOs from a CEX are very unlikely.
What would be the best case instead?
Ideally, you would have all your BTC in self custody *before* the chain split that happened earlier this month. Then you stop transacting and wait for the blake2b coin to have their own node software etc., this should be the case by 1st September. By that point, both chains will be confirmed to be completely different and transactions created by HODLers by then will be based on data valid only on one chain but not the other. This is also the best scenario for dumping one coin and keeping the other.
I hope this helps a bit.
As of today, all the BTC SHA256 nodes accept both transactions that are valid in the #BIP110 and non BIP110 chain.
All the BTC SHA256 nodes enforcing BIP110 accept only transactions that are compliant with the mempool filters of BIP110 and also they accept only blocks that implement the mandatory signaling on a chain that requires the signaling since the split.
The BIP110 chain has been adding new blocks with BIP110 signals only and those blocks have been very few since the split. The "normal" SHA256 chain has been adding many blocks since the split though, so there have been many new confirmed UTXO.
So it's 29th August today and you send your BTC from the CEX to your hardware wallet, this will happen:
The CEX's BTC node will propagate a UTXO based on previous UTXO to send BTC to your address. Note that CEX will have many UTXO constantly, since they transact often.
Chances are, their UTXO is based on UTXOs that were not mined on the BIP110 chain since the split but are only present on the "normal" chain.
In other words, if that UTXO today uses UTXOs that were not mined on the BIP110 chain since the split, the transaction won't be valid on the BIP110 chain because there is no such UTXO since the split.
In the rare case that the CEX uses an UTXO that was present *before* the BIP110 chain split that happened earlier this month and they create a new UTXO to your address, then that transaction could also be seen as valid on both chains and nodes + miners could pick it up on both sides of the chains, including it in their blocks, effectively doing the same transaction on both chains. When the recipient address is controlled by your own private keys, it's the best case, you have effectively ensured your coins on both chains. Considering that the chains are quite different since the split, valid UTXOs from a CEX are very unlikely.
What would be the best case instead?
Ideally, you would have all your BTC in self custody *before* the chain split that happened earlier this month. Then you stop transacting and wait for the blake2b coin to have their own node software etc., this should be the case by 1st September. By that point, both chains will be confirmed to be completely different and transactions created by HODLers by then will be based on data valid only on one chain but not the other. This is also the best scenario for dumping one coin and keeping the other.
I hope this helps a bit.
11❤️1