DireMunchkin's avatar
DireMunchkin
npub1mxrt...kyq5
Swedish expat, living in Switzerland. Bitcoin class of 2021.
DireMunchkin's avatar
DireMunchkin 5 days ago
I joined the effort to activate BIP-110 on Bitcoin - Unfortunately by now it's obvious that it failed. I'll reconfigure my Knots node to turn off the feature flag for RDTS, then keep running Knots with a restrictive relay policy. That seems like the best that can be done within current consensus. Hopefully this does not strengthen the hand of people who want to turn Bitcoin into Ethereum going forward. I'm somewhat optimistic I can live with this consensus, but it depends on if we are on a slippery slope to centralization and potentially worse changes in the future, like e.g. tail emissions. The optimistic take on it is that BIP-110 was just too much of a wedge issue and Bitcoin consensus has a enormous status quo bias. And that the status quo bias should protect us from hostile changes initiated by big bitcoin. This may very well be the case, but I have more doubts about Bitcoin now than I did a few weeks ago. I haven't despaired yet, but I will start hedging my bets financially more than I did in the past.