93: Manufactured Bitcoin Crisis

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I'm still running Knots, but I'm deliberately not signaling for BIP-110. I have a Bitaxe solo mining with Datum Gateway, but won't be moving a large amount of my hashrate to Ocean at least until after all this settlles down. If spam is as much of an issue as Luke and Mechanic state, why does the majority of the network not agree with them? Either fix the spam issue permanently, or let it be. A temporary soft fork is just an unnecessary way for them to feel like they got a win after they lost the fight against Core v30.

Do you think it is reasonable to use Bitcoin as a more long term savings account, like for things one to five years in the future? I am a college student, and currently every time I put money in savings, I put half of it in a standard savings account (stable with very little interest) and half into Bitcoin. I use the short-term savings account for things like saving for a new computer or other big purchases in a few months to a year or two, or in case I suddenly need money, and the Bitcoin more as savings I want to build up. Is it reasonable to expect Bitcoin to have increased within two to three years, so I can take some money out for a purchase or expenses but still keep a significant amount to build on further? Or should my timeline be longer, like 5 to 10 years? A 50% contribution is a lot if I should not use it for that long, and other standard investments also have long timelines so there doesn't seem to be a good medium-term option if Bitcoin isn't it.

The bear market getting you down? BIP110 doing your head in? Well here’s just what you need, all of you! A Bitcoin meetup in New Zealand. We run these really relaxed and friendly meetups, called Bitkiwi, three times a year and all Bitcoiners are welcome. We often have overseas Bitcoiners come along too. The next one is real soon, we’ll let you off Chris cos I know you’re at Planet Nix. But next time. Everyone welcome! https://kiwibitcoinguide.org/home/bitkiwi-meetups/bitkiwi-x…

BIP-110 is unnecessary and could lead to censorship- the market should be allowed to determine what Bitcoin is best suitable for which is store of value/ money- Kratter has gone off the deep end! I stopped running Knots as well

This BIP110 stuff makes me sick and is why I returned to core a while back. Q: where are Jack Mallers, Jack Dorsey, & Michael Saylor on this? Can they not help counter this stupidity with their reach & influence? What about the other treasury companies that have a vested interest here and big microphones?

When a thing has a trillion dollar cap , it won’t keep having hyper growth. 126K pretty much should of been expected. Growth slows every cycle, stop promoting we will randomly have 2013 growth again, it’s silly.

We had a bear cycle bottom of 15K November 2022 & topped at 126K in late 2025. We topped the last quarter of year after having, same time we topped all previous cycles , we do have a 4 year cycle, denying this is silly. All of u keep saying it’s dead but it’s not ,

Deflation or inflation, Bitcoin go up no matter what!!!!! Just price skip talk on every bitcoin podcast, so tired & boring. Just hey no matter what Bitcoin go up, never any critical talk ever

Great show as always. I think you should start using a soundbite from Fleetwood Mac's The Chain whenever you play a highly regarded clip like Mr. Wonderful's comment. I'll enjoy laughing at their far left curve takes, and it's a great song. Might help these institutions learn that "you would never break the chain (never break the chain)."

Thanks for the BIP110 rundown. It's funny, the Bankless guys are responsible for me selling all my ETH and going Bitcoin only. I was trying to understand the "industry", and their promotions of garbage taught me a valuable lesson.

The majority of money will not leave banks for 3% yield on stable coins. Wouldn’t they be giving up FDIC insurance? I don’t think 3% is worth that risk. Thanks for the value.

I am running BIP110. And you made an argument against it that made me reconsider. The argument was that BIP110 changes Bitcoin because it allows a minority to force their opinion on the majority. After thinking about it, I do not come to the same conclusion. I don’t think that BIP110 changes anything with respect to this risk. And opposing BIP110 doesn't mitigate that risk. This is a feature of Nakamoto consensus that exists today and will continue to exist regardless of which way BIP110 is resolved. If this risk didn’t already exist today, BIP110 couldn’t leverage it. There are two ways (that I’m aware of) to reject BIP110: 1. Almost all miners refuse to mine BIP110 blocks 2. Those opposing BIP110 exercise a URSF: user rejected soft fork. This effectively splits the chain. If BIP110 is rejected, those will remain the only ways to reject a different minority driven soft fork in Bitcoin. Heck if BIP110 becomes the only type of blocks that miners mine, those will also remain the only ways to reject a different minority driven soft fork in Bitcoin. So opposing BIP110 doesn't mitigate the risk that a minority can control the direction in Bitcoin. That will continue to exist regardless of which side wins. So I’m going to continue to run BIP110 because I think it does mitigate some significant risks for Bitcoin. But I’m willing to have my mind changed. BTW Intransigent minorities are a feature of complex systems not just Bitcoin. Taleb wrote about them in his book Skin in the Game. Here's the relevant chapter discussing it: https://medium.com/incerto/the-most-intolerant-wins-the-dic…

Cheap foods like Doritos and coke decreasing prices seems to be evidence that government subsidizing illegal benefits were boosting prices

10,001

Interested to hear your thoughts around the Q2/26 timeframe for bitcoin awareness, adoption, and USD price. Several big events then... Taxes being paid (returns to the plebs), Warsh confirmation hearings and maybe Fed pump, election campaigns in full swing, maybe Alito being replaced, maybe market clarity being passed... So much. So much. Keep up the fire, brother.

New TWiB: My take on BIP-110, and some revealing clips. Plus I explore what it means for Bitcoin if we enter a deflationary trend, and a lot more!