There Is No Hard Fork Option
Being a well regarded bip110 knotzi, ofc I run an economically insignificant node, as any bitcoin beginner would, yet Im amazed at how many bip110 public figures are talking about a possible PoW hard fork, if bip110 fails to become part of consensus.
However, it brings me great pain to say, for all my other bip110 node runners: hard forks leading to new coins are not an option, in any case, that can lead to that new coin replacing fiat & becoming new global monetary standard.
Emergency hard forks have happened in bitcoin history (that didnt lead to lasting chain splits with new coins)…however they were done to quickly & concisely resolve clear & present bugs. Bugs, in this context, being those flaws that both coretards & knotzis would consider critical. Bugs affecting consensus that virtually all bitcoiners would agree need solving in 1 way for 1 outcome, where there would not be any disagreement on fixing them based on ideology.
Likewise, historical hard forks (based on ideology) that lead to new coins (& thus different chains), have clearly not delivered on their own promise(s) of being Bitcoin 2.0. We can see this not only on their ticker/chart (over at least several years) via exchanges, but also at the grassroots adoption level, where they also fail hard on medium of exchange & nearly non-existent as a unit of account.
So Im writing all this to say…if bip110 clearly fails to become part of consensus (to me meaning at 110 blocks post activation height it is not the longest chain), then I wont be falling back to running a core node, nor will I be a part of a hard fork movement. That will just be the end of it: my journey with bitcoin. Many OG bitcoiners have opined for years about how we only have 1 shot at bitcoin replacing fiat. This uasf, & many possible more that work to support bitcoin as money (as the only designated use case), have to all succeed, at every step along the way, or else it will not reach its full potential & become decentralized money for all. It can become many other things instead (some wonderful, some not), but money it will not.
Any outcome that is not money, is not why I am here. I am not here for store of value. I am not here for digital gold. I am here for hope. I am here for fix the money, fix the world. If the collective decides Bitcoin is not here for all that, I must go elsewhere to see what kind of v4v impact I can offer to the world.
There is a quote I like to say to myself, during times of intensity, that I hope & pray will stay with me for as long as Im here in this world:
Courage under fire
Grace in victory
Alchemy in defeat
Tonight, on the eve of this culture war, I make peace with all possible outcomes. Whoever you are, whatever you do…I hope you find what you’re looking for.
Thank you,
4sigma
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