Has anyone actually broken down and explained why bip110 is a threat and an attack?
I’d be interested to hear what it technically does.
Login to reply
Replies (22)
A fork, splitting the chain without consensus, is an attack on Bitcoin.
As it stands, this has no chance of gaining consensus and relies on a retarded game theory, which assumes the minority will be able to force everyone else against their will.
Consensus, or they can fork off
A fork, splitting the chain without consensus, is an attack on Bitcoin.
As it stands, this has no chance of gaining consensus and relies on a retarded game theory, which assumes the minority will be able to force everyone else against their will.
Consensus, or they can fork off
Maybe learn some history 🤦♂️
Enjoy the delusion of thinking miners control btc though
It's a threat and attack to people making money with runes and inscriptions, etc
Obituary to your reputation and integrity, Odell..
HIS ONLY DEFENSE I'VE HEARD IS, "LOOK AT WHAT VC AND OTHER PARASITES ARE DOING (ITS WAY WORSE THAN WHAT I'M DOING)"
ZERO CREDIBILITY LEFT, HE IS PART OF THE PROBLEM
Retarded game theory? Is bitcoin not doing what it is supposed to?
since bip110 has nowhere near consensus it will result in a chain split when they activate
the main chain will have blocks mined significantly faster than the bip110 chain
if miners switch to bip110 days, weeks, months after activation it will reverse every bitcoin transaction that happened on the main chain during that period
considering luke calls everyone that doesnt support his fork a pedo, the tactic he will use to try to get miners to switch seems obvious
Well, it was created by cypherpunks...
They claim the plebs own it, but that doesn't seem to be the case.
At least Luke agrees that there is no debate 🫠
Core started this! with their reckless OP_RETURN policy. This is on core.
But it will only reverse "invalid" (relative to BIP-110 consensus rules) tx, most likely spam, not normal tx, correct ?
Its called a shit test. Many are willing to fork the chain over spam. Maybe this is a message to core to get their act together rather than sucking off spammers and bending over to VCs while pleading "there is nothing we can do, we are powerless to spam". It's quite gross.
No
No, that is not what will happen. All mined blocks become invalid. So all transactions in them become unmined. Unless they happen to be mined in the other chain too.
Perfect time for a a large double spend...
Even considering an approach that might cause a reorg is hostile to bitcoin and bitcoiners.
You mean if the majority of the network literally goes back tens of thousands of blocks and has enough hash power to not only get back to the same place but surpass current hash power? What faith you must have in BIP 110 being THAT compelling!
That's not how that works. Nothing gets "unmined" The scenario ODELL is trying to describe is if no one supports BIP110 that chain stops because of so many invalid transactions on the main chain then miners switch completely to BIP110 and mine literally tens of thousands of blocks faster than everyone else can mine a single block on the main chain.
I hope I don't have to describe how improbable that outcome is.
Bip 110 would have the effect of putting spam into the UTXO set, harming node decentralisation, and the strict relay policy of Knots would centralise mining by encouraging miners to use out-of-band systems. It's an attack on all the important aspects of decentralisation, including Luke's desperate attempt to make himself the lead developer
This debate ended in early 2024 when, in response to Mara's Slipstream, the bitcoin network (without asking permission from Core or Knots) relaxed relay policy in order to defend mining decentralisation
BIG THANKS
Bitcoin either maintains censorship resistance, or it doesn’t.
You cannot be a little bit pregnant. Bitcoin cannot be a little bit neutral. It is our money, AND the money of our adversaries.
BIP110 is stupid. Its supporters are very stupid, and they are “here to fix spam.” Think about how big a person’s ego must be in order for them to believe they know how to roll back the chain and pick an alternate outcome based on a censorship campaign they created.
I'm going to do a spaces on twitter later. When are you free