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Technologist THU JUL 17 · Bitcoin Magazine · Jason Hughes / Ocean Mining VP · guest post
0.6% AND HOLDING — MINERS ON CORE V30 QUIETLY IGNORE THE SPAM-FILTER ASK.
Jason Hughes, VP of Development and Engineering at Ocean Mining, put out the miner-side technical read on BIP-110 on Thursday and it lands cleanly in the Technologist tier. The headline number is 0.6 percent — the share of blocks over the past 60 days that have signaled support for the softfork, against the 90 percent threshold BIP-110 needs to activate. Node counts sit between 7 and 15 percent depending on which crawler you trust, but node availability is not the vote. Miners are. And they are not signaling. Every major mining pool Hughes monitors is running some variant of Bitcoin Core v30, which supports BIP-110 out of the box. They updated their nodes after BIP-110 nodes proliferated. They could flip the signal today. They are choosing not to. Hughes’ framing: “the pools are aware but ignoring.” Mining a BIP-110 signaling block via DATUM on OCEAN carries essentially no marginal cost. Signaling is free. The refusal is deliberate. The Technologist read on the whole exchange: this is what the network’s decentralized signaling layer is supposed to do. Nodes vote on the rules they will enforce. Miners vote on which chain to extend with hashrate. When those two constituencies disagree, protocol change fails — not because anyone rejected it in a coordinated way, but because the signal never arrives. Bitcoin’s constitutional design assumes miners will not signal for a rule change most of the ecosystem cannot agree on. That assumption is being validated in real time at 0.6 percent. Hughes ends pointing at his written notes, published before signaling opened, arguing the softfork was structurally weaker than proponents claimed. He is being proven right one non-signaling block at a time. The cap is still twenty-one million. Tick tock. Next block.
READ THE HUGHES POST →
Jason Hughes · Bitcoin Magazine · thu jul 17 · guest post via Ocean Mining
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