Who Really Controls Bitcoin? | Bitcoin Mechanic
By Danny Knowles
Aired May 26, 2026 · 1h 32m · Last boosted Jun 6, 2026
Chapters
Show Notes
“Whoever blinks first wins.” Mechanic joins me to discuss the controversial BIP110 proposal, the fight over spam and inscriptions, and whether Bitcoin users can force a consensus change without support from the major mining pools. We get into miner power, node enforcement, UASF game theory, soft forks, and whether Bitcoin is drifting away from its original purpose as money. Mechanic argues that Bitcoin’s strength comes from ordinary users enforcing the rules, not corporations, exchanges, or miners. THANKS TO OUR SPONSORS: ANCHORWATCH BLOCKWARE LEDN BITKEY ...
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Thx for the deep insight into upcoming dynamics!
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Hearing a lot about how this will work because everyone is dumber than Mechanic. Yawn. Also don't think we missed that he said he wishes he had unilateral power. Have fun playing with your BLV's.
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Okay, this is a very interesting point. We still do not fully know how Bitcoin ultimately behaves in upgrades involving consensus, because these dynamics only become fully visible during real conflict situations. However, the Blocksize Wars already gave us important insight into how Bitcoin behaves under pressure. It is often said that changing Bitcoin consensus rules is extremely difficult. In theory, that is true.…
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I don't like bip110 and think most of bip110 arguments are strictly left curve. But I agree the game theory is kind of on your side. Do I think this is reckless? YES. Do I like jpegs enough to actively fight for them? NO. Will I run knots on my LN node? I will have to research that now ....
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