This was my learning curve too. View quoted note →

Apparently, Siacoin used to be worth about 100x more eight years ago. That means a huge pile of BLAKE2b-compatible ASICs were eventually left sitting on shelves, collecting dust. Then Bitcoin (BLAKE2b) went live. Suddenly, those Chinese miners discovered that their old bricks could be profitable again by mining Bitcoin. So they flooded our network looking to make a quick buck. There was just one problem: they didn’t use tools to build their own block templates. They didn’t run their own nodes. They simply took the path of least resistance, because that’s considered common sense in virtually every shitcoin mining operation. Imagine their confusion when they joined the party with AlphaPool on Stratum V1 and Bitcoiners immediately started pointing guns at them for attacking the network. They were probably thinking: “WTF, guys? We’re just trying to mine. What the hell is wrong with you?” And therein lies the problem: they didn’t understand what this chain was trying to achieve. The entire point of Bitcoin BLAKE2b is to decentralise mining. So to Bitcoiners, thousands of machines arriving through a few Stratum V1 pools looked like an attack on a young and vulnerable network. To the Sia miners, it was simply a once-in-a-lifetime opportunity to turn obsolete hardware into an absurdly profitable mining operation. Some YouTube channels were reporting ROI in HOURS. Not years. Not months. Not weeks. HOURS. Classic Tower of Babel. Same network. Completely different mental models. “If someone is pointing a loaded gun at your face, you don’t need to wait for them to pull the trigger before defending yourself.” Fortunately, the situation is slowly starting to resolve. The pool operators eventually understood the problem and put server-side caps in place, limiting how much of the network any individual pool can control. They’re also learning about DATUM, and one by one they’re starting to work on their own DATUM endpoints. Now comes the harder part: educating the tidal wave of new miners about why they MUST build their own templates with their own nodes. The language barrier is an obvious problem. We need educators with a good command of Mandarin and Cantonese to step up and start educating these miners. If you know such plebs, let me know. Or go directly to the Knots Discord and help get the message across. I’m looking forward to working with our newfound wayward friends from China. But they need to learn, and learn fast, that this is Bitcoin. We play by different rules. We will try to educate them. If education fails, we will expel them. Make no mistake about our priorities. We are separating money from the State. We need no freeloaders.

I don’t watch sports but I’ll be watching what happens in less than 4 hours here:

AlphaPool BLAKE2b

See how the suits ruined World of Warcraft just as they are in the process of ruining Bitcoin (SHA-256d). You will recognise lots of familiar patterns, I’m sure.

PSA

NonKYC.io is the third exchange to list Bitcoin (BLAKE2b). Unfortunately, they currently list us as Bitcoin BIP110, a name we have never used. This appears to be the result of fraudulent emails from an individual calling himself Nathan, who has been falsely representing himself as part of the “official Bitcoin BLAKE2b team.” There is no official Bitcoin BLAKE2b team, and bitcoinbip110.org is not an official Bitcoin BLAKE2b website. Please treat information coming from this source with extreme caution. More importantly, two of the three exchanges currently listing Bitcoin (BLAKE2b) have already adopted XBT. We’d like NonKYC to correct the listing and follow the emerging standard by using XBT consistently across its spot market, API and market data. If you’re on X, please tag @nonkyc_exchange under this post and ask them to correct the listing. If enough people bring this to their attention, we should be able to get the mistake cleared up. Official NonKYC account:

X (formerly Twitter)

NonKyc.io (@nonkyc_exchange) on X

NonKyc Exchange https://t.co/pB2GqYUF5b = Deposit, Trade, and Withdraw. Not your keys, Not your Coins, we don't beg for liquidity ! https://t....

Remember when Coretards used Luke getting robbed as evidence of incompetence? How the tables have turned. Coldcard 💀 BTCPay Server 💀 Boltz 💀 Liquid 💀 The Ls just keep coming. By that same logic, almost everyone in the vicinity of Poolcoin must be incompetent. 🤔

There’s an aggressive attack happening on another front, likely carried out by Udi. Exchanges that have listed Bitcoin (BLAKE2b) are being contacted by someone impersonating the “official team” behind the project, while directing them to this fraudulent site:

Bitcoin BIP110

Bitcoin BIP110 | Network Reference

Independent technical reference for Bitcoin BIP110, covering the BIP 110 chain split, BLAKE2b mainnet status, network identity, technical data, and...

Be advised that this is a bad actor’s site and exercise caution if you choose to access it. I’d also encourage BLAKE2b Bitcoiners to spread the word and make sure potential exchanges know that these people are not affiliated with the project and are attempting to deceive them. See their demands:

While there seems to be a mining attack against Bitcoin (BLAKE2b) by AlphaPool, likely with Udi or Antpool behind it, mitigations are being deployed as we speak. And there’s also a nice surprise: