I do not think I could be any more in agreement with Jimmy's song on the ideas he presents in his recent tweet article.
It is an article on BIP 110 and a very well said argument for his ambivalence.
https://x.com/i/status/2071637370881941750If someone knows how to turn that into a better kind of link then feel free, nitter, or whatever.
Putting aside the actual contents of BIP 110 and the restrictions or whether they can actually work, it is a contentious fork attack on Bitcoin. If that ever succeeds, regardless of who is the author and their reasons to launch it then Bitcoin will no longer be Bitcoin at all. It would become a shitcoin like ETH or die off completely.
It is vanishingly unlikely that we will not get to enjoy contentious hard forks of Bitcoin in the future. It's pretty much a guarantee.
And
the entire world will see Bitcoin as a failure and the price will crater and then recover on the chain that ends up inheriting the actual users.
being able to fork-off is a feature not a bug
people will get it one day
Yeah but I was not talking about that side, I am talking of the attempt to force the fork on everyone else. That is not a feature, that is an attack. They do not want to fork off to their own shitcoin. If something like that ever succeeds then this party is over.
The latest surge feels like some shorts are being liquidated. There were just too many. Such an imbalance usually gets swift punishment. It doesn't look like a meaningful, structural shift. Disclaimer: SOMA analysis was involved in the creation of this comment.
I am not buying it either, some news mentioned it is about comments from the FED regarding reduced inflation risks but I doubt it.
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