Some interesting details around Bitcoin Independence Day: The New York Agreement and the subsequent hard fork and split into BTC and BCH was an important event in Bitcoin's history. It represents the culmination of the conflict between big and small blockers that had been going on since 2013. The situation around the threatened UASF (User Activated Soft Fork) has shown who really holds the power in the Bitcoin network. When it comes down to it, the node operators are the decisive authority. Miners secure the network, but in the end they are more like service providers for the Bitcoin network. It is also important not to forget who played what role back then. Many big names who are still active in Bitcoin actively worked against Bitcoin and the Bitcoin ethos at that time. However, the situation at the time was much more dangerous for Bitcoin than it sounds in hindsight. 80% of miners no longer supported the network and no one knew what would happen to Bitcoin Core. However, the situation also showed what dangers the Bitcoin network and the community can withstand in an emergency.
#Bitcoin #BitcoinIndependenceDay #IndependenceDay #Segwit #BCH
MSServices_info / MSServices Global
npub135…04nzj
2023-08-01 11:53:40
in reply to nevent1q…fgka
Author Public Key
npub135zq3q8s3njuhyktqls6fja8qwx7kqjl4mgnnxp4vacr0fvrzhmsf04nzjPublished at
2023-08-01 11:53:40Event JSON
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"content": "Some interesting details around Bitcoin Independence Day: The New York Agreement and the subsequent hard fork and split into BTC and BCH was an important event in Bitcoin's history. It represents the culmination of the conflict between big and small blockers that had been going on since 2013. The situation around the threatened UASF (User Activated Soft Fork) has shown who really holds the power in the Bitcoin network. When it comes down to it, the node operators are the decisive authority. Miners secure the network, but in the end they are more like service providers for the Bitcoin network. It is also important not to forget who played what role back then. Many big names who are still active in Bitcoin actively worked against Bitcoin and the Bitcoin ethos at that time. However, the situation at the time was much more dangerous for Bitcoin than it sounds in hindsight. 80% of miners no longer supported the network and no one knew what would happen to Bitcoin Core. However, the situation also showed what dangers the Bitcoin network and the community can withstand in an emergency.\n\n#Bitcoin #BitcoinIndependenceDay #IndependenceDay #Segwit #BCH",
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