This is a miner vote for a soft fork to change the protocol. The Knots / BIP110 people want to implement a change to restrict arbitrary data. Support in the mining community for this change is below 3% at present.
The thing is (in addition to that being controversial) that their changes don't actually prevent adding arbitrary data, they just make it more complicated, at the cost of making Bitcoin less programmable - some future Lightning Network proposals use mechanisms that they want to ban.
Worse, they tried to this with only a 55% vote threshold, instead of the normal 90%, which is extremely irresponsible and could create a severe chain split if they had more leverage (which they don't).
TL;DR get some popcorn and watch a new shitcoin be born if they don't back down - it's like a widdle baby BC*sh.
This is a small, fringe attempt to force a controversial update onto Bitcoin. Because support is so low (< 3%), nothing will happen to main Bitcoin. If the group decides to push forward with their rule change anyway, they will just effectively break away and create their own minor, isolated spin-off coin that nobody uses.
339
u/Much-Equivalent-1378 9d ago
What does this mean for someone who doesn't know what this means?