Episode Details

A new Bitcoin chain split off Saturday under BIP-110, aiming to ban non-financial transactions like images to reduce network congestion and fees—but it’s barely moving, with only two blocks in eight hours. Just 2.5% of miners signaled support, far short of the 51% needed for the split to activate. Critics argue users should be free to use transaction space as they wish, not dictated by miners. The new chain’s extreme slowness stems from inherited mining difficulty and a tiny miner base, which will take nearly 350 days to reach the next difficulty adjustment—compared to just 14 days on the main chain. With replay attacks possible and confirmations taking hours, trading on this new chain is practically useless, leaving sellers stuck.

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