jackspirko on Nostr: The supporters of BIP-110 often use BIP-148 (SegWit) as an example of why their ...

The supporters of BIP-110 often use BIP-148 (SegWit) as an example of why their tactic can work.

However, BIP-110 isn't close to the same thing. There is no corporate giant here to rally the troops against. (though they keep trying to create one)

There is no 30%-40% of miners already signaling on the 110 side like there was for 148 a few weeks out.

There is no broad support of users, etc.

The Forgotten Sequel & The Death of SegWit2x

Once SegWit was safely activated, the second half of the NYA (the 2MB hard fork) was scheduled for November 2017.

Because the users had already gotten SegWit without giving up decentralization, support for the corporate hard fork vanished.

Days before the scheduled split, the signers of the NYA realized they were marching into a ghost town with zero economic support and they formally cancelled SegWit2x.

110 is more like that, marching into an economic ghost town.

My gut is most of the 110 supporters don't know any of that.

Here is what actually went down in summary and how 148 and 110 are completely different.

148 was a classic bait and switch. The carrot before the stick. The cartel were offered what they wanted but only if they gave users what we wanted first.

Once the cartel took the carrot, then they got the stick, rejection. Roger Ver and his followers then went off and rewrote the story, claiming the cartel killed the block increase but it was just the market rejecting the larger blocks.

110 is an attempt to employ the stick with no carrot. Ignoring over a year of work that led up to 148 and only using the last month or two as a use case.

110ers think they can bully the market, the miners, the exchanges and the wallet providers, into adopting something with very little real support and have offered nothing in exchange for it. The support is so low I am betting 70-75% of those who hold BTC are not even aware this is even happening.

The bait and switch from 2017 will likely never work again in BTC because people who have real money at stake look at real history at least in their own markets.

The 110 crowd should give that a shot.

You can be mad at what I just wrote but it can all be verified. Many of us were here when this was going on, we were part of it, but every 110er I talk to who showed up in the last 2-5 years has no idea what 148 was and how it went down. Yet they use it as a use case for their current actions.

Note I am not saying all supporters of 110 are class of 2020 or later, just the vast majority and it definitely shows.