Nostr notes by ryangrote

I was a BIP-110 supporter and I’m returning to the legacy ...

2026-08-10T19:05:26Z

In reply to nevent1q…5g5a
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I was a BIP-110 supporter and I’m returning to the legacy chain.

I would have liked the miners to flip the bit to signal for BIP-110 but it’s not worth it at this point. Here’s why:

BIP-110 didn’t fail because bitcoin is captured. It failed because there wasn’t enough support for BIP-110.

Less than 20% of nodes were running it. Much less hashrate was supporting it.

I want to try to draw a parallel to the physical world:
If the people of the Midwest decide they want to tighten the rules for the entire USA, why would the USA make that change if they don’t feel the need to.

The people of the Midwest say “We’re going to enforce these rules across the country and we think you should too.”

The rest of the country says, “How are you going to enforce that?”

The Midwest says, “Well, we’re all going to enforce it in the Midwest and about 15% of us have guns.”

The country says, “How are you going to enforce that if you only make up 20% of the entire USA and only 15% of you have guns?”

The Midwest says, “Just watch, everyone else will enforce it, so you should too.”

My point is that if you want to make a change, you have to make some sacrifice. In the physical world people make sacrifices for change by putting themselves at risk both physically and financially. Not enough BIP-110 supporters really put any skin in the game.

They ran BIP-110 nodes but they didn’t have enough conviction to put enough money into buying hashrate and mining bitcoin to actually enforce it.

Back to my analogy, it would be like the Midwest saying, “We’re not going to spend any money on guns because we think the rest of the country who owns guns will enforce our rule, even though they said they won’t.”

It doesn’t mean miners are completely in control of bitcoin. Less than 20% of nodes were running BIP-110 and miners ignored it. It was the more conservative thing to do.

If 55% of nodes were running BIP-110, I don’t think miners would ignore it, even if hashrate was initially low.

The whole BIP-110 movement was really about resisting centralization. It wasn’t about spam. It was that high rates of spam and arbitrary data would make noderunning more difficult and lead to centralization.

At this point, now that BIP 110 is the minority chain, they're much more centralized than the legacy chain. the whole point of BIP 110 was to stop centralization and now BIP 110 is more centralized.

BIP-110’s loss was like Thomas Massie’s loss. The one with ...

2026-08-09T00:56:03Z

BIP-110’s loss was like Thomas Massie’s loss.

The one with the best interest of the people lost to the side with more money.

I've stopped stressing about whether BIP-110 wins or not. I ...

2026-08-05T01:23:39Z

I've stopped stressing about whether BIP-110 wins or not.

I used to believe Bitcoin would slowly fail if BIP-110 doesn't succed.

I hear people say: "If miners ignore it, that means miners control Bitcoin and Bitcoin isn't what we think it is."

I don't think that's true.

If less than ~20% actually want BIP-110 and miners ignore it, the protocol will just stay aligned with the majority.

That doesn't mean nodes don't matter. It would be a different story if 60% of nodes were running it. I don't think miners would ignore that.

So if BIP-110 fails, that doesn't mean Bitcoin is broken.

It means not enough node runners cared enough to try to make this change.

I'm going to keep running BIP-110 on my node. I'm even renting hashrate for it.

I hope it succeeds, but if it doesn't I'm not giving up on Bitcoin.

Here’s a theory on why all the stolen funds are being ...

2026-08-04T17:40:00Z

In reply to nevent1q…fg0x
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Here’s a theory on why all the stolen funds are being consolidated… The U.S. government is going to find the “thief” (patsy) and sweep all the stolen funds to the Strategic Bitcoin Reserve. If they reimburse the victims, it’ll be with a USD stablecoin based on the value of the BTC when funds were stolen.

It seems like several people have lost money in the coldcard hack ...

2026-08-02T18:19:50Z

It seems like several people have lost money in the coldcard hack because they were traveling and couldn’t access it. I think more people should be talking about the importance of memorizing their seed phrase. I used to think it was overkill but I decided to focus on memorizing 6 words per week for 4 weeks. Then I set a reminder to go through the full 24-word seed phrase in my head one day per week. Unfortunately I’m going to have to do it over again because my seed was generated on an mk4 but at least I could move it before getting drained.

Here are the only two questions you need to consider to determine ...

2026-02-23T23:52:10Z

Here are the only two questions you need to consider to determine if you should support BIP-110:

Is Bitcoin a strictly monetary protocol whose consensus rules may exclude non‑monetary uses when they threaten node decentralization?

If yes, support BIP-110

Is Bitcoin a neutral data protocol where any fee‑paying use is equally legitimate at the consensus level?

If yes, that’s a Shitcoin.

The Monte Carlo simulation and mainnet testing data both point in ...

2026-02-23T00:16:05Z

In reply to nevent1q…44xs
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The Monte Carlo simulation and mainnet testing data both point in the same direction: limiting non-monetary data in Bitcoin transactions produces measurably better long-term outcomes for node decentralization, blockchain sustainability, and network credibility as a monetary system.

Nostr event nevent1qqs0fvtte28d2j6yqqfjpvlxx94uwtc6jux9cu0jvp9t3n2t28lww9gzyz4j8d0my83f39m3f3qw44dhdrzlj9ly6mm6afaphvjt7acnaejtsz96qsz

2026-02-23T00:14:50Z