Blockstream's CEO Adam Back Says Bitcoin Rejected A Contested Upgrade And Won't ...
tradingview.com
A contested Bitcoin upgrade's fate may rest not on community enthusiasm but on whether miners can be made to act against their own short-term interest.
Game TheoryCollective Action ProblemPrincipal-Agent ProblemMechanism Design
Theory Briefing
- Blockstream CEO Adam Back says Bitcoin rejected BIP-110, framing it as the network holding the line against a disputed change.
- BIP-110 supporters argue miner game theory — not broad support — is what actually decides an upgrade's fate.
- The split reveals a core tension: whether Bitcoin governance is driven by community consensus or by miners calculating their own payoffs.
- Bitcoin Mechanic and other BIP-110 backers suggest a proposal can succeed even without majority enthusiasm if miner incentives align.