Stephan Livera
@stephanlivera
Bitcoin podcaster. Investor & Advisor @ORANJEBTC, @bringinxyz
UAE Media Licence Permit: 8630300
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No URSF was necessary after all.
That shows you how unserious these BIP110'ers were.
Being internet keyboard warriors only gets you so far.
Practical mitigation step if you're on a Coldcard and worried about the security issue - MIGRATE to a strong passphrase setup.
Example, select 7 words randomly from the bip39 word list, use that as your passphrase with a new setup.
Migrate coins from old setup to the new passphrase one.
Make sure you write down your new seed words + 7 word passphrase.
This will give you some breathing room while you think about next steps.
bip39 word list:
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@lyme561 @start9labs No, there are plenty of explanations of why it's a flawed idea. Here's just a recent one I wrote today
The hits keep coming for the BIP110 Karens
Miners don’t want to end up on a minority hashrate chain that has almost no economic weight.
Most miners will just ignore BIP110.
@start9labs No this is misleading, it is not the responsibility of every HODLer to monitor and do a URSF every time some minority wants to ram thru a bad change.
Miners have already read the writing on the wall, and they will mostly ignore BIP110. As they should.
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The real risk of creating a filter regime - @csuwildcat
@gvictor808 @adam3us @csuwildcat Think about multi sig, or L2 protocols that require script. It ends up crippling scripting which arguably pushes more people to custodial instead of self custodial.
The inevitability of data storage on Bitcoin - explained by @csuwildcat
Inconsistency in the BIP110 argument exposed by @csuwildcat
That first clip is actually from my podcast. What she's talking about there is things like improvements to relay that would help L2's like lightning, while being mindful of DoS risks and pinning attack vectors.
Some of that work DID get in and you can see here L2/Lightning developers (@acinq_co @blockstream @lightning and @spiral_xyz ) all speaking positively on her work in how it helped them.
And people who want to see the bit just before/after the clip, see full podcast here
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Undocumented consensus change in the RDTS implementation?
@jakeroque_ Try this, it should help explain
"Bitcoin should remain conservative at the base layer. For me, that means rejecting BIP 110.
Bitcoin does not need guardians of purity.
It needs guardians of neutrality."
If spam hits your node but you don’t even notice, did it really stop Bitcoin from working as money?
Ironically, Bitcoin survived multiple spam waves (SatoshiDice, Counterparty, Coloured Coins, VeriBlock, etc.) before tools like even existed.
Most users happily transacted and barely knew or cared.
The network is more resilient than the panic suggests.
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Luke-logic: release and promote a UASF client with mandatory signalling but pretend it's the rest of the network who are causing a split.
@ric_reich @adam3us read this
Just note though:
1. Pruned nodes can still work for many people (on an existing PC/laptop, so cheap), but with some cut down functionality
2. Yes the chain is growing over time, but the block size limit was set quite conservatively, and generally tech deflation will bring the cost down faster than the chain grows.
3. A big reason for the spike now is more due to AI spiking the costs for things like SSDs
I'd say if you want an archival node with electrum server, the cost is probably more like $450 ish today. But it will come down over time in line with general multi decade trends.
I actually made a bitcoin node cost dashboard to show some of this, see
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BIP110 debate summed up
You ignored the point about how BIP110 only increases the cost 0.4% and most of the spammer protocols are either unaffected, or they can quickly change to keep spamming.
So no, it won't significantly reduce because of BIP110.
If the spammer protocols die off, its cos the fad died anyway. In which case we didn't need BIP110.
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