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What Bitcoin Did

Why BIP110 Won’t Change Bitcoin | Mr Hodl & Wicked

6/4/2026 · 72 min · transcript via whisper

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Key topics

BIP110 lacks genuine consensus and meaningful support compared to SegWit, which had 90–95% threshold and near-unanimous ecosystem backing. BIP110's 55% threshold is described as an attack vector, not a legitimate upgrade path.

The distinction between user-activated soft forks (UASF): BIP148 in 2017 succeeded because network was under genuine duress from Bitmain (empty blocks, fee pressure, censorship), justifying emergency action. BIP110 has no equivalent crisis and minimal real adoption.

Node counts are inflated through Sybil attacks; running a non-validating node that doesn't accept transactions or serve the network is a net negative, not a consensus signal. Real node support for BIP110 is negligible.

Miners, not pool operators or node runners, control hash rate. Attempts to coerce US-based mining pools via legal pressure is a threat to Bitcoin's decentralization; miners holding Bitcoin would rationally refuse to support what they see as an attack.

Arbitrary data on Bitcoin (JPEGs, ordinals) should be addressed by fee markets and user choice, not protocol changes that set a dangerous precedent for future censorship.

The economic majority—not developers, miners, or nodes alone—ultimately defines Bitcoin's rules. A forked chain without majority support is not Bitcoin, even if proponents claim otherwise.

Market & price signals

None discussed.

Actionable insights

If BIP110 reaches the mandatory signaling period (block 906132), watch for a potential chain split in early August. The legacy chain will gain a permanent one-block lead; BIP110 will fall behind rapidly and likely fail within days, proving consensus cannot be manufactured by a vocal minority.

Do not conflate different historical events: SegWit had overwhelming evidence of consensus (95% threshold, exchanges, miners, developers all aligned), extreme network stress (fees, censorship), and a flag day. BIP110 has none of these. Fee markets will resolve spam concerns without protocol changes.

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