Bitcoin is under attack, but every attempt that doesn’t kill it make it stronger.
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The one who wants to see bitcoin failed, can buy developers with the infinite money to change the code of bitcoin and allow users to put non-monetary data in the blockchain so that it becomes harder to run full node and then it becomes more centralized.
Remedy is also on the way. The proposed changes (BIP-110) are altering the consenses of the valid block to minimize non-monetary data. At the moment, more than 20 percent of nodes have applied these changes. Miners think that they have power to control the network but they don’t. If there are less mining power for the new changes, network will adjust itself and eventually BIP-110 will be effective from latest by Sept 2026.
If people are sincere with this money, only 55% need to give signal for the changes in their mined blocks and then this will be smooth transition.
Why I am calling it a attack? Because the way Bitcoin Core v30 was published without wider consenses, It looks like it was a plan to make environment for chaos. But from this chaos comes an opportunity. Save your time and energy in Bitcoin, and don’t watch the price everyday unless you are buying.
For ordinary people, there is nothing to worry about, except keep your bitcoin in your own custody (hardware wallet or mobile phone [small amount only]).
Thank you for taking time to read. Stay tuned.
