Protocol
The Split Got a Price, and the Price Is the Verdict
Twenty-four hours after the BIP110 faithful walked out with their own chain, an exchange put a number on it — and the number did most of the arguing.
The listing came without ceremony. Aaron van Wirdum: First exchange to list bitcoin-jr (ticker BTCB2) … Currently trading at ~$98 (USDC).
Bitcoin News filled in the microstructure: The BLAKE2b fork is seeing trades around $82 per coin on the Neoxa Exchange, roughly 900x below the price of BTC. … the highest bid at $82 and lowest ask at $190, creating a massive 131.7% spread
. ForrestHODL supplied the historical ruler: When Bitcoin cash launched its exchange value was roughly 8.8% of what Bitcoin was worth. When btc2b launched and was listed it's value was roughly 0.11% that of bitcoins. Incredible.
Dave, filing from the meme desk: Wake up babe, new BIP-110 Shitcoin dropped! $BTCB2
. Even the ticker is unsettled — Tauri put it to a poll, asking plainly, What should be the ticker for Bitcoin-BLAKE2b?
The practical coverage was all warnings. utxo the webmaster, who spent the morning on airdropped coins: I would probably avoid trying to sell them, potentially compromising your real money for some fake dust is truly not worth it. Just let them go to zero
. Bitcoin Well went further on the split-and-swap sites now circulating: Nobody can tell you what those coin-splitting sites do. That is the point.
— because Every one of these sites needs one of two things from you. Send bitcoin to an address it controls, or hand over your keys or seed.
One such swap desk opened anyway, its own operator pleading Please don't be reckless, only small amounts.
, and Leo Wandersleb winced at what comes next: Omg. They will get sent a lot of BTC without replay protection.
Contra, reading the fork's own blocks: 5–17 transactions and 0.00 BTC in fees. That’s not an attack. Thats an empty chain
.
The institutional aftershock landed too. Bitcoin News reported OCEAN's board handed the chair to Barefoot Mining's Bob Burnett — a man who was the first miner to contribute hashrate to the pool and mined OCEAN’s first-ever block
— while Dashjr left following “different visions for the future of Bitcoin mining” and is launching a new mining venture, CONVOY.
Jack Spirko doubted the sequel gets made at all — They are trying to prop it up, but it just can't be done.
— and offered the day's most deflating perspective: Nostr and X are Bitcoin echo chamber bubbles. I just did a trip, talked to three long time coiners on it, not one of them even knew this happened.
Of the man at the center of it, Spirko softened: It is a total shit show. And I actually feel for Luke at this point.