Aaron van Wirdum on nostr

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I'm trying to see what they are so upset about, and the only thing that makes sense is they don't want miners who dump the new coins because that presumably makes it harder to push the price higher. ...

Aaron van Wirdum @Aaron van Wirdum 1790122364

They claim they're battling mining centralization but yes I think that's the real motivation behind this.

DZC · 2d

Ah, ok. I see it now. They're not just extending the coin maturity, they're redefining what kind of mining is allowed completely... With as many forks as needed on the go? 🙄 https://blossom.primal...

Aaron van Wirdum @Aaron van Wirdum 1790069270

The plan has three stages.

1. Freeze coinbase rewards for 45 days.
2. If no “unintended side effects”, extend coinbase freeze for full year.
3. By the end of that year only allow DATUM-mined block rewards to be spent… somehow.

1 & 2 are to disincentivize “opportunistic shitcoin miners” that just want to mine and sell the coins for profit… or something.

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DZC · 1d

Thanks for the info. Once you've started changing consensus rules once, you can't stop it there, I'm afraid. 😳

Scrotus · 1d

I'm trying to see what they are so upset about, and the only thing that makes sense is they don't want miners who dump the new coins because that presumably makes it harder to push the price higher.

Aaron van Wirdum · 2d

Aaron van Wirdum @Aaron van Wirdum 1790063926

So yeah it looks like the new rules are being enforced by a majority of miners, which means that any blocks that don't enforce these rules keep getting wiped out, and there is no chain split.

Will be interesting to see if the coinbase freeze gets extended in the upcoming 45 days, given that this was pretty explicitely targeted at "bad actor" AlphaPool... who now helped ensure Luke's soft fork is the majority chain.

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Aaron van Wirdum · 2d

For anyone still interested in this clown show... nostr:nprofile1qqs0m40g76hqmwqhhc9hrk3qfxxpsp5k3k9xgk24nsjf7v305u6xffcwac93l tried to push through a soft fork on Bitcoin-jr with ~one day notice, to...

Aaron van Wirdum @Aaron van Wirdum 1790057187

The chain with the new rules is currently ahead, which means the blocks on the old rules were wiped out. In other words, no split currently.

Interestingly, the new chain is ahead because AlphaPool is mining on it. This is the exact pool they consider a bad actor and is why this soft fork was rolled put in the first place...

...and this pool won't even be able to spend these block rewards, perhaps ever!

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Aaron van Wirdum · 2d

So yeah it looks like the new rules are being enforced by a majority of miners, which means that any blocks that don't enforce these rules keep getting wiped out, and there is no chain split. Will be interesting to see if the coinbase freeze gets extended in the upcoming 45 days, given that this wa...

Aaron van Wirdum

@Aaron van Wirdum 1790054735

For anyone still interested in this clown show...

@Luke Dashjr tried to push through a soft fork on Bitcoin-jr with ~one day notice, to freeze newly generated block rewards.

The rules just went into effect, and now that blockchain has split between upgraded and non-upgraded nodes.

Whether the split is temporary or permanent (Bitcoin-jr v. Bitcoin-jr Classic) remains to be seen.

To watch it unfold live, grab some popcorn and tune into this fork observer vibe coded by @zender 🟨⬛ bitcoinomad: https://lukecoin.zndtoshi.com/