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ICYMI: I just published new work for @BitcoinMagazine.
In it, @AaronvanW and I detail the full history of the first major debate over the direction of the software.
Here are 14 things about #Bitcoin
's code I learned while writing this piece 
https://bitcoinmagazine.com/articles/the-battle-for-p2sh-the-untold-story-of-the-first-bitcoin-war
In it, @AaronvanW and I detail the full history of the first major debate over the direction of the software.
Here are 14 things about #Bitcoin
's code I learned while writing this piece https://bitcoinmagazine.com/articles/the-battle-for-p2sh-the-untold-story-of-the-first-bitcoin-war
2/ If you’re not familiar, some fast facts on #P2SH:
+ It was first soft fork lead by Satoshi's successor @gavinandresen
+ Together w/ BIP11, it made #multisig usable (making #BTC more secure)
+ It was activated in April 2012 when 55% of miners signaled support
+ It was first soft fork lead by Satoshi's successor @gavinandresen
+ Together w/ BIP11, it made #multisig usable (making #BTC
more secure)+ It was activated in April 2012 when 55% of miners signaled support
3/ Timelines for soft forks in #Bitcoin 's early days were aggressively short by modern standards.
OP_EVAL (BIP12) went from idea to (near) activation in about 3 months.
P2SH (BIP16) went from idea to activation in just under 3 months. Back then, this was considered long!
's early days were aggressively short by modern standards.OP_EVAL (BIP12) went from idea to (near) activation in about 3 months.
P2SH (BIP16) went from idea to activation in just under 3 months. Back then, this was considered long!
4/ Though based on prior ideas, #P2SH was ideated over only a few days.
It was the resulting compromise of one meeting (in which it wasn't discussed) and another (where everyone agreed to enact it).
Both were in January and the first activation date was set for February 1!
It was the resulting compromise of one meeting (in which it wasn't discussed) and another (where everyone agreed to enact it).
Both were in January and the first activation date was set for February 1!
5/ #P2SH failed twice to activate and reached its signaling threshold (55%) on the third attempt.
Miners on the non-upgraded part of the network produced invalid blocks for months, and so developers reasoned a 95% threshold (the % required for SegWit) would be more secure.
Miners on the non-upgraded part of the network produced invalid blocks for months, and so developers reasoned a 95% threshold (the % required for SegWit) would be more secure.
6/ Prior to #P2SH, it can't be said #Bitcoin had much of a developer team, even if it was still open-source.
Satoshi merged all the changes himself, and if you wanted to contribute you basically had to email him directly or post on the Bitcoin Forum with a special message.
had much of a developer team, even if it was still open-source. Satoshi merged all the changes himself, and if you wanted to contribute you basically had to email him directly or post on the Bitcoin Forum with a special message.
7/ Multi-sig wallets (what we use to store #BTC in something like a @CasaHODL wallet) were always part of #Bitcoin and were added to the protocol by Satoshi.
This shows Satoshi foresaw we'd need extra security to guard bitcoins as they became more and more valuable.
in something like a @CasaHODL wallet) were always part of #Bitcoin and were added to the protocol by Satoshi. This shows Satoshi foresaw we'd need extra security to guard bitcoins as they became more and more valuable.
8/ #Mulitsig was one of many commands in the code that, while included by Satoshi, had been deactivated.
Fearing the consequences of advanced commands, they were designated "non-standard," which meant they weren't broadcast to peers on the network by default.
Fearing the consequences of advanced commands, they were designated "non-standard," which meant they weren't broadcast to peers on the network by default.
9/ This meant that from 2009 to 2011, you'd had to have been a miner (easier back then) capable of adjusting your own software to send a #multisig transaction (still hard).
I’d be curious to see if anyone can find evidence if someone ever successfully did!
I’d be curious to see if anyone can find evidence if someone ever successfully did!
10/ It was @gavinandresen who discovered new features could be added on #Bitcoin by repurposing old placeholder features that Satoshi had included in earlier clients.
When Greg Maxwell heard the news, he said it "blew his mind."
by repurposing old placeholder features that Satoshi had included in earlier clients. When Greg Maxwell heard the news, he said it "blew his mind."
11/ There were 10 placeholder opcodes included in the #Bitcoin software by Satoshi to be used at a later date for any reason.
I’d be curious for any reading on NO-OP codes and if Bitcoin developers ever expect any will be used again for any reason.
software by Satoshi to be used at a later date for any reason. I’d be curious for any reading on NO-OP codes and if Bitcoin developers ever expect any will be used again for any reason.
12/ By late 2011, GPU mining had already turned #Bitcoin mining into an arms race.
With #P2SH, it became obvious that this had broken Satoshi's original model (one CPU, one vote) for the balance of power between the network stakeholders and that it was impacting governance.
mining into an arms race. With #P2SH, it became obvious that this had broken Satoshi's original model (one CPU, one vote) for the balance of power between the network stakeholders and that it was impacting governance.
13/ As of early 2012, three mining pools – DeepBit, Slush Pool and BTC Guild – were already the entire #Bitcoin hash power.
@slush_pool is still active, but I'm not sure what became of DeepBit or BTC Guild. (Would be curious to be sent any interesting links).
hash power. @slush_pool is still active, but I'm not sure what became of DeepBit or BTC Guild. (Would be curious to be sent any interesting links).
14/ Even back then, some developers were uncomfortable with the idea large mining pools were playing a role in activating forks.
Greg Maxwell has perhaps the most enduring line on this, calling it a "fucked up situation where bitcoin is no longer decentralized.”
Greg Maxwell has perhaps the most enduring line on this, calling it a "fucked up situation where bitcoin is no longer decentralized.”
15/ As always, it's hard to condense the nuance of history into tweets.
If you'd like to read the full story of how the first major upgrade on #Bitcoin came to be, check out the article on @BitcoinMagazine below 
https://bitcoinmagazine.com/articles/the-battle-for-p2sh-the-untold-story-of-the-first-bitcoin-war
If you'd like to read the full story of how the first major upgrade on #Bitcoin
came to be, check out the article on @BitcoinMagazine below https://bitcoinmagazine.com/articles/the-battle-for-p2sh-the-untold-story-of-the-first-bitcoin-war
If reading isn't your thing, you can also hear me discuss my work on Bitcoin's history on Noded with @bitstein and @pierre_rochard
Lower your time preference below https://soundcloud.com/noded-bitcoin-podcast/noded-0730-with-pete-rizzo
Lower your time preference below https://soundcloud.com/noded-bitcoin-podcast/noded-0730-with-pete-rizzo
@mpmcsweeney noted anti-reader
