G’day Folks,
If you’re a Bitcoin nerd like me, the resolution of the BIP110 chain-split that occurred over the weekend was fascinating to watch.
I’m not going to get into the politics of the soft fork itself. Instead, I want to focus on the fork logic and mechanics which led to this chain-split, and why the BIP110 chain has now stalled out with only two blocks mined.
Bitcoin doesn’t experience soft forks very often, and I believe this was an invaluable lesson in how the network resists proposals for change by default.
I’ll then follow up with a classic market update, which is long overdue given the events of recent weeks.
Given how much has happened, it’s frankly astounding how little has happened with respect to volatility and price.
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