Bitcoin nearly split in two. On BIP110 activation day, a chain split actually happened — and almost nobody noticed. Coinjoined Chris (Seedor, Bitsurance) joins me to break down what BIP110 really was, why it was dead on arrival with under 6% real node support and near-zero hashrate, and what it teaches us about how consensus in Bitcoin actually gets decided. We go deep on fake pubkeys, OP_RETURN limits, relay policy vs consensus, the OP_RETURN spam wars since 2023, mining pool centralization, and why the "economic node" — not one-node-one-vote — is what really matters. If you mine Bitcoin but never think about what your hashrate is actually securing, this one's for you.
👤 Guest: Coinjoined Chris
X: https://x.com/coinjoined
Seedor (seed backup / self-custody): https://seedor.io
Bitsurance (Bitcoin insurance): https://bitsurance.eu
Timestamps:
0:00 Intro & who is Chris?
3:22 The origins: NFTs, JPEGs & 2023 fee spikes
5:34 Information theory & fake pubkeys
7:30 UTXO bloat & node centralization
13:18 Counterparty & what a node actually does
17:35 Consensus rules vs relay policy
22:43 DoS protection & who sets node defaults
24:14 Sponsor: Altair Technology
24:51 OP_RETURN limits & node implementations
28:16 2023 spam onslaught & the push to change consensus
32:11 The "garbage can" argument & the anti-spam steelman
34:52 The bell curve & what consensus really is
37:25 Signaling: node counts, sockpuppets & prediction markets
39:47 BIP444 → BIP110: cramming in the changes
44:15 Does the market even understand consensus?
48:12 Under 6% support & why capital isn't your voice
52:36 Ossification & the golden-rock debate
53:44 Sponsor: Luxor
55:59 BIP110 mechanics & what "activation" means
59:37 Cooldowns, "longest chain" vs most chain work
1:03:05 Activation day: the network splits live
1:06:28 Roughnecks & the block race that stalled
1:09:05 Pool power, centralization & OFAC censorship
1:11:38 Stratum V2, Foundry & why miners don't care
1:14:41 The economic node: not one-node-one-vote
1:17:35 What we learned & what's next (BIP54)
🛠 Sponsored by:
Altair Technology — ASIC hardware, replacement parts & mining infrastructure
Code: HASHRATEUP
https://altairtech.io/aff/125/
Luxor — Mining software, firmware & hashrate tools
https://luxor.tech/
📊 HashrateUp Hardware Deals: https://t.me/hashrateup
📩 Free 5-Day Bitcoin Mining Course: https://hashrateup.com/newsletter-sign-up/
#BitcoinMining #BIP110 #ChainSplit #BitcoinConsensus #SoftFork #OPRETURN #Ordinals #NakamotoConsensus #MiningPools #Bitcoin #HashrateUp
