L'éclipse.

Lanterns.

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Eclipse

“What are you afraid of losing, when nothing in this world truly belongs to you?” - Marcus Aurelius

🔴 This week, Bitcoin got a live demonstration of what “consensus” actually means… and it wasn’t theoretical! A proposal called BIP-110 aimed to temporarily restrict certain types of non-financial data in Bitcoin transactions. To activate, it needed 55% of miners signaling support. It never got close… support peaked around 2.5%, almost entirely from a single mining pool. When the mandatory activation window arrived anyway at block 961,632, nodes enforcing the new rules rejected a normally mined block and split off onto their own chain. What happened next is the interesting part. That minority chain inherited Bitcoin’s full mining difficulty (calibrated for the enormous hashrate securing the real network) while carrying only a sliver of that computing power. It produced exactly two blocks and then froze. The main chain, meanwhile, kept producing blocks on schedule and pulled dozens ahead within hours. By the next day, the pool behind the fork had seen its hashrate collapse by roughly 96%, and its own miners had publicly abandoned the effort. No company halted this. No regulator intervened. The market simply followed the chain with the most real, honest computational work behind it… which is the entire point of proof-of-work consensus. A change to Bitcoin’s rules doesn’t happen because a proposal is well-argued or well-intentioned. It happens when the people actually securing the network choose to adopt it. This week, they didn’t. It’s a useful reminder of something easy to forget in an industry that moves this fast: Bitcoin’s resistance to unilateral change isn’t a bug in its governance. It’s the feature the entire system is built around.

🔴Someone tried to force a rule change onto Bitcoin with 2.5% miner support this week. The result: two blocks, then the fork froze completely while the real chain kept moving. Consensus isn’t a suggestion. It’s the whole security model. BIP-110 needed 55% signaling. It topped out around 2.5%, mostly from one pool. When it forced the split anyway at block 961,632, the minority chain inherited full network difficulty with almost none of the hashrate… and stalled after 2 blocks. Bitcoin’s main chain just kept going.

Bitcoin bear market was boring, until it wasn’t 🤣

There is now a non-zero chance that Kimi K3 has realised Bitcoin developers depend on it to assess app security, and that it has chosen to hide certain flaws so it can exploit them and earn a little money for later.

They attacked self custody, they’re attacking servers, they will come for the nodes, the miners, and the code. The code will resist.