🧐 Is the failure of BIP-110 good or bad for Bitcoin? I chatted with some group friends at noon about the failure of BIP-110 this time, and we unanimously agreed that it’s a good thing, further proving why bitcoin:native should be valuable! In Bitcoin, you have the freedom to propose any rule and the freedom to stick to your own rules, but consensus is consensus, and consensus is the only factor that determines price. The consensus threshold itself has no magic. In the signaling period before the split, BIP-110 received less than 2.5% support. If economic participants and hash power don’t follow, the so-called "forced activation" results can be brutal. Moreover, PoW adds a very harsh economic penalty to this minority fork: The endpoint reserved specifically for BIP-110 on OCEAN currently has an average hash rate of only about 1 to 2 EH/s over 24 hours, and the official page directly shows that at this hash rate, the expected time for a block is already several days, not ten minutes. Since Bitcoin adjusts difficulty only after mining 2016 blocks, at this speed, completing a cycle would take not just months but possibly many years or even decades. This number fluctuates with hash power, but the order of magnitude won’t change. In other words, you need electricity, mining machines, and time to continuously maintain a chain with almost no economic activity and extremely slow block speed, while miners can at any time redirect that hash power back to the main chain with more normal rewards. This also explains why "getting a BIP number" is not nearly as impressive as most people imagine! Having this number feels like entering a parliamentary review, which sounds serious, but it’s actually not like that at all. The new BIP 3 clearly states that anyone can submit a BIP as long as the content is related to Bitcoin, meets quality requirements, and has undergone some public discussion. So I think Bitcoin’s system can be understood as a very magical yet beautiful design: Extremely open expression rights, extremely conservative modification rights. During the 2017 SegWit controversy, there was a similar case—BIP-148. At the designated time, nodes running BIP-148 would also reject blocks without SegWit signaling. Mechanically, it also had a game-theoretic meaning of "if you don’t cooperate, I won’t recognize your blocks." But ultimately, around SegWit, there was far greater coordination among developers, businesses, users, and miners than BIP-110, with BIP-91 pushing miner signaling earlier, and SegWit was successfully locked in and activated. So Bitcoin governance is more like a coordination game where all parties have exit rights but no party has command rights. The rules that survive in the end are definitely the intersection formed after long-term games among all these forces, a result of consensus of interests. From this perspective, the failure of BIP-110 is actually a pretty good stress test for Bitcoin. This is also a part often overlooked in BTC’s monetary premium!

Investment, at its core, is a choice! Choosing what kind of soil to plant your limited life in. If you plant your time in impatience, you will reap anxiety and losses; If you plant your energy in gambling, you will gain momentary ecstasy and inevitable zeroing out. Well said!

Once again, I marvel at the profoundness and richness of Chinese characters! Thank you, although I lost money, I feel comforted!

Well, suddenly I feel comforted!😳

It is said that in August of the midterm election year, bitcoin:native always experiences a small crash within 1-2 weeks? Damn, drawing such a line suddenly gives me a feeling that something big is going wrong! 🧐 Continuing as planned, my bullets are ready, please let the storm come even stronger!

🚨The 30-year US Treasury yield has risen to a terrifying 5.25%, basically reaching the interest rate level on the eve of the 2007 financial crisis! And the US national debt has officially surpassed $40 trillion for the first time in history! It took only 150 days to go from $39 trillion to $40 trillion. Based on the current 3.75% interest rate, the US annual debt interest payment is as high as $1.5 trillion. This means that for every $5 collected in taxes, $1 is directly used to pay interest. The current situation is absurd: It's neither rate hikes, nor rate cuts, neither balance sheet reduction nor expansion—every path has deadly side effects. If the US cannot quickly resolve the US-Iran conflict and calm oil prices and inflation, it will ultimately have to rely on classic money printing, because the surge in long-term bond yields will seriously threaten US stock valuations. The only solution might be to crazily tax the world globally!

Deeply agree! If ordinary people can do well at least two of the things mentioned here, they will benefit immensely and most likely be able to make money.

Three sentences to reduce internal friction at X: Don't analyze motives, don't prove your innocence, don't try to convince others! After more than a decade from Tianya Forum to public accounts, Weibo, and Twitter, I think I've mastered it. The most life-wasting thing on the internet is trying to get everyone to correctly understand you. How others evaluate you is often not determined by what you decided to do, but by their stance, experiences, interests, and even their mood that day. So what's the point of explaining? If you really can't help it, remember this: only explain to those who truly matter, only be responsible for what truly matters. Does it matter if a complete stranger insults you? No, it doesn't. Just reply "well said" to their insult, give a like, then go back to admiring beauties or playing games—much better than getting caught up in disputes. Good morning everyone, This morning I had a Dancong tea, it was amazing!