Roundtable_024 - The Aftermath

About this episode

The roundtable is back, but we're missing a familiar face. Mechanic has officially stepped down from Ocean, so it’s just Jeff, Steve and I digging into the aftermath of BIP110, from why the soft fork failed to what Luke and Mechanic’s departure means for Ocean and Bitcoin Core’s influence. We debate whether the real existential risk is block-template centralization, how much BIP110 helped or hurt Knots and Ocean, and why some of us think the strategy overplayed its hand. We close with a wild proposal to pressure Coinbase into proving reserves using their wrapped BTC token, and what true Bitcoin “bank runs” might look like in the future. Chapters (00:00:00) - Introduction (00:04:48) - The BIP-110 aftermath (00:16:13) - Mining decentralization versus spam filtering (00:22:56) - Tapscript, OP_IF, and breaking consensus rules (00:30:31) - The importance of Stratum V2 and block templates (00:53:09) - Mining economics on the BIP 110 fork chain (01:11:29) - The Coldcard incident and state-sponsored attacks (01:31:57) - Force proof of reserves on Coinbase (01:44:32) - The Great Consensus Cleanup (01:58:44) - Ron Paul, stepping stones, a