Jason Hughes is the VP of development and engineering at Ocean Mining:
There’s been a lot of misleading information about this whole thing, especially in the context of mining. Few quick key bullet points to briefly counter some hyperbole from proponents:(The fact that I feel the need to point out that last part is actually kind of sad…)
- BIP110 is NOT inevitable. It CAN fail.
- BIP110 can and will cause a chain split/fork in a minority hashrate situation.
- BIP110 is NOT without risk to miners choosing to adopt it.
- Miners not supporting BIP110 are not suddenly mining “invalid” blocks just because a proposal that isn’t yet adopted simply exists.
- You’re not a bad person or evil simply because you don’t like or support BIP110.
Apparently Hughes wrote up an education piece for miners about how to deal with a potential split, but never published it. Until now.
Summarizing my doc a bit, my personal suggestion to miners is this:
- Signal if you support BIP110
- Do not signal if you don’t support BIP110 or don’t care
- Either way, monitor the network on/around/before block 961632.
- If you continue to see non-signaling blocks from major pools you can be reasonably certain they’re not going to suddenly decide later to throw away millions of dollars worth of revenue to backtrack and signal for BIP110.
- If they do by some chance start to signal for BIP110, you should monitor that and consider switching as required to stay on the heaviest chain.
It is my feeling that Hughes does a very nice job of addressing some of the weird stances taken by supporters of BIP 110. For instance:
“But Jason! If you don’t upgrade to the latest consensus rules, you’re insecure! You’ll lose funds! You’ll mine invalid blocks! You’ll [insert additional hyperbole here]!”
This would be true of a consensus change that has, well, consensus. While BIP110 has made a valiant effort to gain that consensus, it has yet to have any measurable majority at what is now arguably the 11th hour. Not in nodes, not in hashrate, not in the social layers (consensus.health has a cool visual there where you'll find me in the middle).
Overall, the post has a very "the emperor is naked" feel to me. When will the bitcoiners who have fallen for BIP 110 wake up and realize it's a non issue?
when this becomes a moral debate about neutral money is really sad
I'm glad Hughes aired his thoughts. He seemed reasonable when I heard him speak at bitcoin++ last year and I was curious how he was getting on in the epicenter of BIP110.
Next week in Miami should be interesting. I'm sure Mechanic will be connected at the hip with Luke as usual but not sure about the other Ocean guys that are usually in attendance.
Sometimes when these Bitcoiners set their stall out, it costs them too much in hubris? If that's the right term
Look at some of the peeps that deleted their X accounts and said Nostr only
Odell has swallowed his pride and gone back to using both and credit to him for having the balls to admit when wrong
Some of these bip110ers with the # in their handle have pinned their colours to the mast, climbing up the pole to remove them is a step too far
We saw the same with bcash and the sv'ers
https://twiiit.com/wk057/status/2077444826232955365