The founder of r/BitcoinKnots has denounced the project and come back to Bitcoin. Hopefully many others follow. Bitcoin needs dissenters and debate to stay strong in the long run.

Dialogue from a Chinese mine owner Question: Would you be willing to spend 355 USDC on the NeoxEX exchange to purchase an XBT coin? Answer: No, because the cost of mining XBT in my Chinese mine is only 10 USDC per coin! Question: Then, after mining an XBT coin, it needs to be locked for 45 days before it can be used. Are you willing to bear the cost of these 45 days? Answer: Of course, I can bear the 45-day lock time. Because the electricity cost for mining in my Chinese mine is only 0.03$ per kilowatt-hour. Moreover, I mined a large amount of XBT coins through the SV1 protocol of the mining pool in the early days, and now I am continuously unlocking them. So I can recharge to the NeoxEX exchange to obtain USDC liquidity to cover the cost! #XBT# #BLAKE2B# #BITCOINKNOTS#

The friends from abroad are really wealthy. It only costs 10$ to mine one XBT coin from the Chinese mine. However, you pay a price that is 30 times higher to purchase the XBT coins from the Chinese mine. This is because the electricity cost is only 0.03$. Moreover, all the XBT coins are mined through the SV1 protocol. At that time, we will steal all the USDC liquidity in NeoxEX, causing significant financial losses to everyone! #XBT# #BLAKE2B# #BITCOINKNOTS#

These are all the new block rewards I discovered through local DATUM mining. They are still within the 45-day lock-up period. However, the block rewards I obtained through the previous SV1 protocol have all been unlocked. I don't plan to use the previous block rewards, so I'll just leave them in the wallet! #XBT# #BitcoinKnots# #Blake2b#

The XBT coins purchased by everyone at the NeoxEX exchange were all generated from the block rewards mined by most of the previous Chinese mining facilities using the SV1 protocol. However, the block rewards actually mined using the Bitcoin Knots Node DATUM currently are under a 45-day lock-up period. #XBT# #BLAKE2B# #BitcoinKnots#

The XBT coins being sold and converted into USDC are all previously mined by Chinese mining farms through the SV1 protocol. The 45-day block reward lock has no impact on them, as their SV1 miner rewards are gradually unlocking. As soon as these rewards are unlocked, they are immediately deposited into NeoxEX for sale. Once the full 45-day period ends and all previous SV1 protocol miner block rewards are fully released, a large volume of XBT coins from Chinese mining farms will hit the market. At that point, your USDC will be completely taken over by these Chinese mining farms! #XBT# #BLAKE2B# #BitcoinKnots#

🚨The latest version of Bitcoin Knots now enables BIP-110 by default.🚨 Anyone who runs BIP-110 code will find their node stops working and gets forked off the network in August. As such, I've created a handy countdown timer for us to watch the disaster!