Lebanese Hodl
· 3w
The argument by BIP-110ers that Bitcoin is now a centralized “stock” or “digital credit” is complete non sense. Their fork failed because of no consensus. Plain and simple.
You can use Bitco...
The new idea of a flag day regardless of signalling is what failed. Not surprised there, especially with only 2.6% block signalling, that was just too weak to even be thinking about a flag day yet. Still, this whole effort proves in my mind that mining has gotten way too centralized. We are in dangerous territory. But kudos to Roughneck mining for finding 2 blocks and to Ocean more generally for working to solve this policy/consensus centralization problem. Birds of a feather. I hate the non-monetary stuff that has crept in and don't want it in blocks I have to store nor in the UTXO set I have to keep in memory.
But I saw evidence that at least some miners (not AntPool) went offline as hashrate took a nose dive and were "thinking about it", ala prisoners dilemma, but ultimately none of the big miners flipped. I think history will show that it almost worked, if truth comes out about who was talking to who... or should I say, who colluded with who.