
Renaud Cuny
@CunyRenaud
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Decoding Bitcoin, one block at a time https://t.co/rQwHcBeDxe - Running Knots
Joined April 2022
π¨ Bitcoin Core v30 creates legal risks that most stakeholders don't understand yet. 18% of nodes already switched to Knots. The network is defending itself. Here's what's happening π https://t.co/nkABKiMLfc
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When 22% of your network rebels against a software update, you have a governance problem.
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Bitcoin recent price dip brought price close to production cost. With hashrate now at ~1.1 ZH/s, will new miners keep coming online?
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Bitcoin Core v30 crossed a line. Removing the 83-byte OP_RETURN limit is moral surrender. Now 21% of nodes run Knots. A soft fork might be coming. More importantly, the community is already here. https://t.co/7G6Ew1R6gw
#Bitcoin
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Earlier this year, @_MattHill_ warned of a potential soft fork in the absence of a satisfactory resolution to the policy debate. This is seeming more likely by the day. Node runners should pay attention. https://t.co/Rft5pk5Xxb
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Bitcoin price now: - Around production cost (electricity + hw) - Very close to long term trend support. - sentiment: Extreme Fear π¨ Historically these have been good times to buy. Will price hold the support floor level $103K? Iβd say yes. Letβs see.
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- Fear & Greed at 28: Fearπ° - Bitcoin network doing very well though: hashrate near ATHπ€·ββοΈ Whoβs buying the dip?
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Bitcoin node update: Day 4 of Core v30 π Core v30: - Monday: 266 nodes - Today: 837 nodes Bitcoin Core overall surge: - Last week: ~75K nodes - Today: 91,673 nodes Knots: Stable at ~14K What's driving the Core surge?
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π 64% of Bitcoin listening nodes run over Tor (~15K). How does Knots perform there? β’ Knots v29.1 is the #1 client on Torπ₯ β’ Knots share among Tor nodes -> 27% data source: https://t.co/Num1ZxiFH4
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What triggered the Core jump? Data source: @LukeDashjr comprehensive node tracker Charts:
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Bitcoin node data showing two very different patterns π Knots (orange): Steady organic growth over 5 months - May: ~3,000 nodes - Now: 13,955 nodes Core (blue): Flat for months, then sudden spike in early Oct - Sept: ~75K-78K nodes - Oct: 85K+ nodes (+~10K in days)
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Core trend on the other hand has been declining slowly, except in the last few weeks which begs the question: Whoβs suddenly feeling the urge to setup Core nodes? π€
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Steady increase of Knots node in the last 6 months. Adding 600-700 new nodes/month.
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Context: Yesterday saw the LARGEST liquidation event in crypto history - ~$10B in positions wiped out - 1.5M traders liquidated - BTC crashed from $117k β $102k (briefly) - Now battling back around $113k Saturday volume = market still digesting the shock
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Bitcoin spot volume at ~$200B today π Potentially 2nd highest day in BTC history. What's wild: It's Saturday and volume is STILL elevated after yesterday's Trump tariff selloff. Cascade liquidations continuing or something else?
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Knots above 21% the same day core v30 is released π A sign? Knots becoming the new Bitcoin reference implementation
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