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Source: coindesk.com ·
Binance Pool represents 11% of Bitcoin’s mining hashrate. Adding it to the “yes” column pushes mining pool support for Taproot to about 91%.
Alejandro DeLaTorre - @bitentrepreneur
2 weeks ago
RT @CoinDesk: Now that the mining pool run by @Binance says it supports Taproot, all major mining pools say they support the upgrade. @bitentrepreneur
Report by @AlyssaHertig
https://t.co/8FnGIWTeIf
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Erik Voorhees - @ErikVoorhees
2 weeks ago
All Major Mining Pools Now Support Taproot, Bitcoin’s Biggest Upgrade in Years https://t.co/juz4ptPB85 via @coindesk
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31
gicigil960
2 weeks ago
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1
koxibi1742
2 weeks ago
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1
coinfeeds-bot
Redditor for 2 months. 2 weeks ago
tldr; Binance Pool, the mining pool run by one of crypto’s biggest exchanges, is the only one with over 10% of the Bitcoin hashrate that hasn’t said “yes” to the Taproot upgrade. The addition of Binance Pool to the ‘yes’ column means that all the major pools are now on board.
This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
2
Fosforus
2 weeks ago
As I understand it, it's a big improvement to privacy for anyone using scripts, smart contracts or multisig transactions. It makes them look indistinguishable from 'regular' transactions.
For a fuller explanation:
[https://themoneymongers.com/bitcoin-taproot/](https://themoneymongers.com/bitcoin-taproot/)
[https://bitcoinmagazine.com/articles/taproot-coming-what-it-and-how-it-will-benefit-bitcoin](https://bitcoinmagazine.com/articles/taproot-coming-what-it-and-how-it-will-benefit-bitcoin)
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coinfeeds-bot
redditor for 3 months 2 weeks ago
tldr; Binance Pool, the mining pool run by one of crypto’s biggest exchanges, is the only one with over 10% of the Bitcoin hashrate that hasn’t said “yes” to the Taproot upgrade. The addition of Binance Pool to the ‘yes’ column means that all the major pools are now on board.
This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
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varikonniemi
2 weeks ago
Now just the overly conservative dev team needs to agree on the most expedited, fast activation plan. Why not next major release of bitcoin core?
3
varikonniemi
2 weeks ago
segwit was a pretty damaging civil war that set back progress for at least a year. One faction should not be able to veto progress abusing the conservatist attitude.
Do you think that forked client UASF should be needed to tip the balance, or could the incentive come from core? Do we even have a core that advocates for progressg, or must changes come from unofficial rebels and the civil war it encourages?
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flammablegopher
2 weeks ago
The developers are not politicians. They don't have the power to force change and they should never have that power/responsibility.
If there is going to be some bullshit like Segwit2X again, it will be up to the community to defend Bitcoin. Thankfully we have set a strong precedent with the absolute win that was the UASF (Bip148).
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varikonniemi
2 weeks ago
i agree completely. Therefore the very version that included support for segwit should have had UASF config option baked in, so the users can make the decision with the miners, not rely and giving veto power to miners alone.
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flammablegopher
2 weeks ago
We will do another UASF if it becomes necessary. This is what the community demonstrated in 2016/2017.
As long as the miners play ball and don't block upgrades for their personal gain, it should be best to work with them in good faith.
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varikonniemi
2 weeks ago
Absolutely, but the tools for alternative outcomes should come built in, if they become needed.
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flammablegopher
2 weeks ago
Maybe you have a point, but what kind of tools are you thinking about? Do you want to change the upgrade process?
For Taproot they want to use [BIP8](https://taprootactivation.com/) vs the [BIP9](https://bitcoinmagazine.com/articles/bip-8-bip-9-or-modern-soft-fork-activation-how-bitcoin-could-upgrade-next) process that was used for Segwit.
*The main idea behind BIP 8 is that — assuming of course that users upgrade — miners can’t block the soft fork and therefore can’t use this leverage to their benefit.*
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varikonniemi
2 weeks ago
well as i said, have a config option hidden somewhere deep in bitcoin core that makes it work like the UASF fork did. Talking about what happened. I have not yet looked into what the suggestions or consensus on the process for next upgrade is.
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flammablegopher
2 weeks ago
Read the article in the second link I posted earlier. It explains the difference, and why we are using BIP8 this time around. I think this change is basically what you are proposing btw.
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Rrdro
2 weeks ago
To be fair a fork happened and the market chose the 1mb chain. I did not agree with Bitcoin Core at the time. I still don't agree that we need the limit but the market has decided so here we are.
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vattenj
2 weeks ago
Market consists of mainly ignorant miners who do not care about the technical details of the code. And once the code is on the wrong track, it will drag all those ignorant miners with it. There is no solution to this "ignorant majority" problem, so there will always be politics
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friendsofbitcoin
2 weeks ago
Sorry you have been misinformed. Bitcoin got rid of the 1MB limit in 2017 and replaced it with 4 million units of weight. this essentially doubles the capacity when most transactions are segwit. Most blocks these days are over 1MB. The reason people now consider bcash a scam is because their proponents keep using dishonest marketing using terms like "1MB chain". The market did not choose a 1MB chain. The market chose to have the limit at ~3.7MB
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Rrdro
2 weeks ago
Well that ever be increased further? Why can't we have Segwit and larger blocks.
0
friendsofbitcoin
2 weeks ago
segwit create larger blocks.
Bitcoin is scaling in many ways, including onchain and future plans as well. look at the scaling roadmap
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iC0rraxX
6 days ago
Hey /u/friendsofbitcoin, sorry to bother you. Where can I find some info related to the scaling roadmap?
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varikonniemi
2 weeks ago
ask the users, everyone can sign a message with the balance they have, and let the stake speak. Not miners that of course vote for the option that naively interpreted allows them more income.
another layer of voting is let the official client support both, and let users set config option what they signal, not force them to forked client if they want segwit
the conservative hands off attitude is what made a month-long debacle into years long.
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lurker1325
2 weeks ago
The users already spoke. They sold bcash and bought bitcoin.
If I recall, segwit was implemented as a soft fork. The users weren't forced to run a new client.
It wasn't the conservative hands-off attitude that drew out the "debacle", it was bitmain holding back bitcoin to retain their [ASICBoost edge](https://www.reddit.com/r/Bitcoin/comments/67n5uz/eli5_what_is_asicboost_and_why_was_it_a_disaster/).
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varikonniemi
2 weeks ago
indeed, as it was a soft fork the activation should have been quick and not dependent on miners with veto right. Users spoke, a civil war happened, and in the end users and the community won.
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TheGreatMuffin
2 weeks ago
> Why not next major release of bitcoin core?
As I understand it, it'll be included in the next one (0.21), which should be coming out in the next few weeks/days, but the activation method is another topic and not decided yet.
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minimally__invasive
redditor for 3 months 2 weeks ago
What are the different options, do you know? (or do you know where I can read up about it?)
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TheGreatMuffin
2 weeks ago
I'm not sure if there have been developments since the linked post, but this is a pretty good overview of the options: https://old.reddit.com/r/Bitcoin/comments/hqzp14/technical_the_path_to_taproot_activation/
Also, a survey of a dozen bitcoin devs from a few months ago: http://www.erisian.com.au/wordpress/2020/10/26/activating-soft-forks-in-bitcoin
Not sure if there any current infos at the moment in an article/post form.
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