Bitcoin Mechanic says the rejection of BIP110 on Saturday "shattered a long-standing belief that Bitcoin's anti-fragility and hard-monetary properties would continue thanks to its decentralized network of nodes."
He argues that mining pools acted as "a small cartel of centralized pool operators clearly acting on behalf of industry players who operated behind closed doors" to kill BIP110, while supporters "operated in public" using "neutral metrics that everyone had access to."
His core concern is that "Proof of Work is completely pointless if the criteria for what constitutes validity is decided by the ones doing the work."
He says he's now running a stalled Knots node at block 931,633 and is open to a hard fork with a new proof-of-work algorithm, stating "the only defense the network would have would be to hard-fork to a new Proof-of-Work algorithm."
He closes by saying he has "no desire to attempt to call this new chain Bitcoin" and that captured Bitcoin "becomes a tool for the sickest of purposes."
TFTC
npub1sk…6jraw
2026-08-11 19:53:32 UTC
Author Public Key
npub1sk7mtp67zy7uex2f3dr5vdjynzpwu9dpc7q4f2c8cpjmguee6eeq56jrawPublished at
2026-08-11 19:53:32 UTCEvent JSON
{
"id": "8e07b0dba0131ef63bfb54cc535edefa1e17b9b3f4fbc2460ed8cad478a05dc5",
"pubkey": "85bdb5875e113dcc99498b474636449882ee15a1c78154ab07c065b47339d672",
"created_at": 1786478012,
"kind": 1,
"tags": [],
"content": "Bitcoin Mechanic says the rejection of BIP110 on Saturday \"shattered a long-standing belief that Bitcoin's anti-fragility and hard-monetary properties would continue thanks to its decentralized network of nodes.\"\n\nHe argues that mining pools acted as \"a small cartel of centralized pool operators clearly acting on behalf of industry players who operated behind closed doors\" to kill BIP110, while supporters \"operated in public\" using \"neutral metrics that everyone had access to.\"\n\nHis core concern is that \"Proof of Work is completely pointless if the criteria for what constitutes validity is decided by the ones doing the work.\"\n\nHe says he's now running a stalled Knots node at block 931,633 and is open to a hard fork with a new proof-of-work algorithm, stating \"the only defense the network would have would be to hard-fork to a new Proof-of-Work algorithm.\"\n\nHe closes by saying he has \"no desire to attempt to call this new chain Bitcoin\" and that captured Bitcoin \"becomes a tool for the sickest of purposes.\"",
"sig": "cd71a5789153e4edc6abdea3d719ffb2076e2d74356566d188123d015ef3e8670390979c16857aacf0af4a1870f8c3532f1798fa7b70dcda3ba20d3f8d4083ac"
}