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Willem Dafoe Shines as a Postal Worker and Poet in the Luminous Late Fame

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Willem Dafoe Shines as a Postal Worker and Poet in the Luminous Late Fame
Willem Dafoe in ‘Late Fame’ —Courtesy of Magnolia Pictures

How many lives can be packed into one? If we live long enough, most of us reinvent ourselves several times over, by switching careers, changing partners, having children, moving to a new place. What constitutes the essence of us, even when we can no longer identify ourselves as the thing we used to be?

That’s one of the questions Kent Jones’ intimate, wry little picture Late Fame tangles with. Willem Dafoe plays Ed Saxberger, a seventy-ish New York City postal worker who used to be, or may still be, a poet: In 1979 he published a reasonably well-received book of poetry—a pretty admirable feat by itself—but now he’s just a guy. By day he sorts letters; in the evenings he wanders down to his local watering hole to hang out with his geezer pals, MTA workers and the like, guys who do everyday jobs just like he does. As far as they’re concerned, there’s nothing fancy or special about him. He’s not just a regular, he’s regular.

For Saxberger, there’s nothing sad about that; it’s just the texture of his life. But one day, he’s alerted to the presence of a wiry, nervous-looking, well-dressed young man who’s been hanging around his modest but by no means depressive apartment building. Saxberger approaches him amiably. The kid introduces himself as Wilson Meyers—he’s played, with clean-cut bonhomie, by Edmund Donovan—and begins to gush over Saxberger’s single book, which he unearthed, he says breathlessly, at “Foyles on Charing Cross Road,” an unnecessary bit of information that telegraphs nearly all you need to know about this guy. Meyers tells Saxberger that he’s part of “an artistic community” of poets and intellectuals who gather occasionally at a local speakeasy, and they’re all huge fans of his work. Would he join them sometime? Unsure what, exactly, this crew might want from him, Saxberger at first demurs; then he relents.

A scene Late Fame —Courtesy of Magnolia Pictures

The members of this group call themselves “The Enthusiasm Society,” refer to one another by last names only, and claim to loathe internet influencers. They’re mostly aimless and obviously well-off guys in their twenties and early thirties, fellows who clearly think it’s bourgeois to work and luckily don’t have to. Saxberger appears amused by their callow pretensions—they’re obviously hoping that hanging out with him will somehow turn them into poets too—but he does wonder, and eventually asks: “Are there any women in your group?” There is one, they assure him, though he’s not prepared for the bewitching creature who eventually swans in. Gloria (Greta Lee), a performer in every sense of the word, seems to have dropped in from another century. Her sentences tumble out in breathy, peacock-feather bouquets; she favors swirling capes and flirtatious, oddball cloches. She invites Saxberger to one of her intimate cabaret performances—she slinks through “Surabaya Johnny” with molten eroticism—and he watches in awe. She’s both unbearable in her excessive theatricality and unavoidably captivating. Saxberger is a goner. But then he also wonders, years after having given up writing, if he may still be a poet after all.

And that’s the central rib of Late Fame, which was adapted from a long lost and only recently published 1895 novella by Arthur Schnitzler. What makes a poet? Is it the act of writing, or a subterranean, unextinguishable quality that lives in the soul? Late Fame is Jones’ second fiction feature—his debut was the gentle-spirited 2018 drama Diane, starring Mary Kay Place—and though it’s deeply observant about what it takes, and what it costs, to be an artist, it also has the light touch of a comedy. Characters who begin as types gradually emerge as people: Donovan’s Meyers is the kind of spoiled rich kid who proves how easy it is to be a dilettante when you’ve got daddy’s dollars behind you—and still, there’s something sad about the way he grabs greedily at others’ gifts, because he knows what’s lacking in himself. Dafoe is terrific as Saxberger, a guy who’s made peace with what his life has become, only to find himself rattled by the idea that maybe he hasn’t. A scene in which he tries to introduce his bar pals to his old poetry cuts deep: they laugh because they can’t see him as anyone but their drinking buddy (though it’s also pointed out that he no longer drinks alcohol, for reasons we can intuit). Dafoe’s face, a map of scarred-over disappointments, shows him reckoning with a brutal truth: he’ll have to learn to live with the fact that these people he truly cares about can never truly understand him.

Greta Lee and Willem Dafoe in Late Fame —Courtesy of Magnolia Pictures

But Lee’s performance may be the secret key to Late Fame. Gloria is a user, a poseur extraordinaire; her fluttery flamboyance, rooted in insecurity, summons another Gloria, the one from Sunset Blvd. And yet she’s the only member of the Enthusiasm Society who has ever taken a risk—as well as, clearly, the only one with any true artistic gift. As Lee plays her, she shifts seamlessly from hypertheatrical creation to fragile human being. And though other members of the group desire her, only Saxberger—intoxicated with her even though he knows it’s hopeless—sees the truth of her. Late Fame is all about the bitter, beautiful reality that no one is ever who they used to be. How could we be, if we’re doing the work of becoming? Is Saxberger still a poet, even when he finds it impossible to write new verse? What he and only he sees in Gloria is a new kind of poem, written on the wind if not on paper, but real even so.

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New XRP Ledger proposals target $530 million in tokenized Wall Street assets

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Tokenized real-world assets issued on the XRP Ledger. (Shaurya Malwa/CoinDesk)

There is already money on the chain for the feature to serve. Onchain data aggregator RWA.xyz tracks about $1.38 billion of distributed real-world assets on XRPL, including $845.7 million of RLUSD. Ondo accounts for another $212.6 million, followed by VERT Capital at $116.1 million and Archax at $55.4 million. Societe Generale sits further down the table at $11.6 million.

Tokenized real-world assets issued on the XRP Ledger. (Shaurya Malwa/CoinDesk)

That leaves more than $530 million of tracked tokenized assets outside RLUSD, though the market remains concentrated in a handful of issuers.

Confidential Transfers stays narrow in its first version. Holders have to opt into the encrypted format, and it currently works for direct MPT payments between accounts. It does not cover trades on XRPL’s built-in exchange, escrow or checks.

The other five are aimed at the same audience. Batch can package as many as eight transactions together, including an all-or-nothing mode where every step succeeds or none does. Sponsor lets one account cover another’s fees and reserve requirements, removing the need for a new user to hold XRP before transacting.

Permission Delegation lets an account authorize another party to submit only specified transaction types, giving a fund administrator limited authority without handing over full control. Dynamic MPT lets issuers change certain properties of a token after issuance.

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BitMEX, Hayes Sued Over 623 BTC Liquidation Claims as Exchange Winds Down

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BitMEX, Hayes Sued Over 623 BTC Liquidation Claims as Exchange Winds Down


BitMEX and its co-founders, including Arthur Hayes, were sued in a proposed class action accusing the exchange of keeping customer collateral seized in liquidations and running an internal trading desk with access to confidential position data. The complaint was filed July 23 in the Southern… Read the full story at The Defiant

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Stock Market Today: Dow Slides 464 Points; Chip Firm Surges, Microsoft Surpasses Buy Zone

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Stock Market Today: Dow Slides 464 Points; Chip Firm Surges, Microsoft Surpasses Buy Zone

The Dow Jones Industrial Average surrendered the most among major equity indexes Thursday, during which shares of memory-chip makers Sandisk (SNDK) and Western Digital (WDC) tumbled after their respective earnings reports. However, among the two data-storage leaders, the former was tracking a 4% weekly gain while the latter slumped 17%. The Dow gave up 464 points, or nearly 0.9%, to…

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Bitcoin Trailed a $2.7 Trillion Gold and Silver Rally: Is the Yen to Blame?

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Gold (XAU) and Silver (XAG) Price Performances. Source: TradingView

Gold and silver just posted their strongest week of 2026. Bitcoin (BTC) sat it out.

Gold climbed roughly 7% on the week. Silver did about twice as well. Bitcoin managed 0.7% in a day.

The Gold and Silver Rally Left Bitcoin Behind

Gold headed for its best week since January, Reuters reported. Spot gold was up about 6% on the week by Friday afternoon in London, then pushed higher into the New York session.

By late Friday, gold traded near $4,323 an ounce and silver near $64. Both marked multi-week highs.

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Gold (XAU) and Silver (XAG) Price Performances. Source: TradingView
Gold (XAU) and Silver (XAG) Price Performances. Source: TradingView

Bitcoin was the laggard. It gained 0.7% over 24 hours, leaving Bitcoin near $65,000 with a market value around $1.31 trillion.

Research account Bull Theory put the combined gain for the two metals at roughly $2.7 trillion. That estimate values all the gold and silver ever mined. Treat it as rough scale, not a hard number.

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The check is straightforward. The World Gold Council counts 219,891 tonnes of gold above ground at the end of 2025. At $4,323 an ounce, that is worth about $30 trillion. A 7% week therefore adds close to $2 trillion in gold alone.

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Japan’s Yen Buying Squeezed the Carry Trade

Japan and the United States bought yen together on July 31. It was their first joint purchase of the currency since 1998.

The scale has changed beyond recognition. New York Fed records show Washington spent $833 million on June 17, 1998, split evenly between the Federal Reserve and the Treasury. Market estimates put this week’s two-day operation as high as $85 billion.

Bank of Japan flow data pointed to roughly $59 billion on the first session alone. Japan’s Ministry of Finance confirms the official total on Aug. 31.

Washington also sold euros instead of dollars to fund its share. The European Central Bank found out afterwards.

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It worked, at least briefly. The yen had touched 163.99 per dollar, its weakest since 1986. It then firmed to 155.23, a gain of more than 5%.

“We will not hesitate to participate in further joint intervention,” Treasury Secretary Scott Bessent signalled there may be more.

Why a Stronger Yen Usually Hurts Crypto

The link runs through borrowing. For years, traders borrowed yen cheaply because Japanese rates sat near zero. They then bought higher-returning assets elsewhere, including Bitcoin. That trade is called the carry trade.

A stronger yen makes those loans more expensive to repay. Traders sell assets to cover them. That is the theory, and it has form.

August 2024 is the case study. The BIS found that a Bank of Japan hike and weak US jobs data triggered a violent unwind. On Aug. 5 that year, Japan’s TOPIX fell 12% in a single day. The S&P 500 dropped 3%. Wall Street’s fear gauge spiked above 60.

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The BIS also sized the trade. Bank loans outside Japan reached ¥40 trillion, near $250 billion, by March 2024. Broader cross-border claims topped $500 billion.

So the yen just strengthened more than 5% in two sessions, and Bitcoin barely flinched. That is the puzzle. BeInCrypto has previously tracked how Bitcoin fell after Japan’s past rate hikes, which makes the calm response more striking.

One explanation comes from Apollo Global Management. It says the yen carry trade rule that tied the currency to interest rate gaps has broken down. If that link is weaker, the squeeze bites less.

Cheaper Oil and a Fed Hold Favored Metals

The simpler answer may be that metals had their own catalysts.

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Brent crude fell more than 10% on the week after the United States and Iran agreed a two-week ceasefire. Cheaper energy cooled inflation worries.

Traders responded by cutting the odds of a September US rate increase to 55%, down from 63% a week earlier, according to Reuters. The Fed had already held rates at 3.50% to 3.75% on July 29. That Fed rate hold split the committee 9 to 3.

Lower rate expectations tend to help gold, which pays no interest. Metals captured that shift. Crypto did not.

Two dates now matter. US jobs data lands first. The Bank of Japan then meets in September. It held at 1% in July, and Governor Kazuo Ueda warned that inflation risks point upward.

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The post Bitcoin Trailed a $2.7 Trillion Gold and Silver Rally: Is the Yen to Blame? appeared first on BeInCrypto.

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Samsung Says Wallet Will Add Stablecoin Support

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Samsung Says Wallet Will Add Stablecoin Support


Samsung Wallet will support stablecoins, Samsung product manager Lee Dinham said at the company's Galaxy Unpacked event in London on July 22, the electronics giant's first direct commitment to the asset class. "Samsung Wallet will expand beyond cash and savings. It will embrace new forms of digital… Read the full story at The Defiant

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July Jobs Report Sends Fed Expectations Into Chaos, Can Crypto Capitalize?

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Interest Rate Probabilities for September. Source: CME FedWatch Tool

The July jobs report shows up to 23,000 lost jobs instead of gaining the 80,000 forecast, and revisions erased another 103,000. Federal Reserve rate bets flipped within minutes of Friday’s release.

Bitcoin (BTC) climbed on the news. The unemployment rate fell to 4.1%, but for an uncomfortable reason. People stopped looking for work.

July Jobs Report Revisions Deepen the Shock

The headline number was bad. The fine print was worse. The Bureau of Labor Statistics report cut May’s gain to 63,000 and June’s to just 20,000. That quiet markdown wiped out 103,000 jobs.

Hiring was already thin before July. Payrolls averaged gains of just 34,000 a month over the past year. July snapped even that weak streak.

Moreover, the losses were not spread evenly. Local government education shed 50,000 jobs. Retail and finance also cut staff. Health care added 22,000 positions, and little else grew.

The falling jobless rate hides the real story. Fewer Americans are working or even looking. Participation has dropped 0.7 percentage point since January, reaching 61.4%.

Paychecks tell a similar tale. Wages grew 3.2% over the past year, while June’s inflation ran at 3.5%. In real terms, the average worker is falling behind

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“The U.S. economy “unexpectedly” lost 23K jobs in July, while June’s gain was revised down to a mere 20K. The unemployment rate slipped a bit because more people left the labor force, as the participation rate fell to 61.4%, the lowest in 50 years excluding COVID. Stagflation!” Economist Peter Schiff argued the mix points to something worse than a slowdown.

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Fed Bets Flip, and Crypto Smells Opportunity

Rate markets moved fast. CME Group’s FedWatch tool now gives a September hold 55.9% odds, against 44.1% for a hike. One week ago, the hold camp sat at just 33%.

Interest Rate Probabilities for September. Source: CME FedWatch Tool
Interest Rate Probabilities for September. Source: CME FedWatch Tool

The swing matters because the Fed is split. It held rates at 3.50% to 3.75% in late July, yet three Fed officials dissented and pushed for a hike.

Unemployment hit a two-year low only because fewer people searched for work.

Against this backdrop, the general perception is that this was a messy read for policymakers.

“Take our government workers, world cup, jobs rose 100,000,” Kevin Hassett said in an interview.

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For crypto, the math is simple. Fewer hikes mean less pressure on risk assets. Bitcoin, trading near $65,172, rose 0.7% in 24 hours, per BeInCrypto Markets data.

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Bitcoin has also run this play before. A weak print sparked June’s jobs report rally, which faded once hawkish Fed talk returned. The token likewise lagged a metals rally that gave gold its best week of 2026, leaving room to catch up if yields keep sliding.

Everything now rides on one date. The July Consumer Price Index (CPI) lands on Wednesday, August 12. A cool number locks in the dovish shift. A hot one revives hike bets before the Fed’s September 15 to 16 meeting, where fresh economic projections are also due.

The post July Jobs Report Sends Fed Expectations Into Chaos, Can Crypto Capitalize? appeared first on BeInCrypto.

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Trezor user says life savings stolen via Google phishing ad

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Trezor user says life savings stolen via Google phishing ad

A crypto user claims he lost his life savings after a sponsored Google result impersonating Trezor directed him to a phishing website.

Summary

  • David said a sponsored Google result led him to a fake Trezor website.
  • The phishing page was hosted on Google Sites and allegedly requested wallet recovery information.
  • Trezor reported an increase in phishing websites appearing in sponsored search results.
  • Similar Google ad campaigns were previously linked to more than $1 million in crypto losses.

Trezor user reports losing his life savings

A crypto user identified as David, who posts on X under the account @ReallyBadDay99, claimed on Aug. 7 that he lost his life savings after searching Google for “Trezor wallet.”

“Hey @Trezor, just lost my life savings. Top sponsored Google result for ‘Trezor wallet’ is a phishing site!” David wrote.

The sponsored result allegedly directed him to a page hosted on Google Sites that impersonated the hardware-wallet provider. David said the phishing operation was collecting funds through an address he shared with on-chain investigators ZachXBT and CertiK.

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He also claimed the address was “vacuuming up millions.” However, the value of David’s loss, the total amount allegedly stolen from other users, and the address’s connection to the phishing website had not been independently verified at the time of publication.

A wallet recovery phrase gives its holder control over the associated cryptocurrency. If a victim enters the phrase on a fraudulent website, an attacker can restore the wallet on another device and transfer its assets without access to the original hardware wallet.

Blockchain transactions are generally irreversible, leaving victims with few options after funds have been transferred.

Trezor warns of sponsored phishing results

Trezor issued a broader warning hours after David published his claim, saying it was seeing an increase in phishing websites impersonating the company.

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The hardware-wallet provider said some of the fraudulent websites were appearing in sponsored search results and could look highly convincing. It warned that entering a wallet backup on one of those pages could result in stolen funds.

“Never enter your wallet backup on a website or share it with anyone,” Trezor said in its Aug. 7 X post.

Trezor also told customers not to assume that a sponsored search result is legitimate. Users should verify that they are visiting the company’s official website before downloading Trezor Suite or entering information connected to their wallets.

The company’s post did not confirm David’s loss, identify the operators of the reported phishing page or estimate how much the campaign may have stolen. Trezor also did not say whether the specific Google Sites page identified in David’s post had been removed.

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Google ads remain a recurring crypto attack vector

Sponsored search results have become a repeated delivery method for crypto phishing campaigns. Attackers purchase advertisements tied to wallet, exchange, and decentralized finance search terms, allowing fraudulent pages to appear above legitimate websites.

As previously reported by crypto.news, fake Uniswap advertisements promoted through Google search reportedly helped scammers steal at least $400,000 from several users in May.

Security Alliance data cited in that report connected malicious Google advertisements to approximately $1.27 million in losses between March 13 and March 30. The organization said it had blocked more than 356 malicious advertising links over the previous year.

The reported Trezor page being hosted on Google Sites also reflects a tactic in which attackers use trusted online services to make fraudulent pages appear safer. Google acknowledged in a June fraud advisory that scammers were abusing reputable cloud platforms to host phishing content and bypass security filters.

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The continued use of Google’s advertising and hosting infrastructure makes the threat relevant to U.S. cryptocurrency holders who depend on search results to access wallet services. No U.S. regulator or law-enforcement agency had publicly announced an investigation into David’s reported loss at the time of publication.

Trezor users have faced similar phishing attempts

Crypto.news reported in February that scammers mailed fake Trezor and Ledger letters containing QR codes linked to phishing websites.

Those pages requested 12-, 20- or 24-word recovery phrases under the pretext of verifying wallet ownership. Although the delivery method differed, the campaign also relied on impersonating a trusted hardware-wallet provider and persuading users to disclose their backups.

Trezor advises customers to bookmark its official website and obtain Trezor Suite only through verified company channels. Anyone who entered a recovery phrase on a suspicious page should treat the wallet as compromised and move any remaining assets to a new wallet created with a fresh backup.

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Trump earned over $1 billion through cryptocurrency; this is how an ordinary investor can earn $17,700

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Trump earned over $1 billion through cryptocurrency; this is how an ordinary investor can earn $17,700 - 3

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

SHRMiner highlights growing interest in cloud mining as digital asset markets evolve, offering users access to mining services without specialized hardware.

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Summary

  • Trump’s crypto pivot highlights the industry’s growing influence as SHRMiner promotes accessible cloud mining.
  • SHRMiner has launched a free cloud mining service, offering crypto holders a way to access mining without owning physical equipment.
  • Cloud mining is gaining traction in 2026 as SHRMiner targets BTC holders with automated mining and passive-income services.

Trump publicly criticized Bitcoin in 2021 but rapidly shifted his stance during the campaign, proposing to make the United States the “global cryptocurrency capital.”

After returning to the White House, he signed an executive order supporting the development of the digital asset industry. Meanwhile, reports indicate that Trump and his associated businesses have generated over $1 billion in gains through cryptocurrency.

As we enter 2026, cloud mining is emerging as a new area of ​​interest amidst the continued development of computing infrastructure and digital asset markets. For the average investor, the question arises: how can one generate $17,700 in passive income — or even more — despite constant market volatility?

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Cloud mining, represented by platforms like SHRMiner, is rapidly gaining market attention. By providing rentable computing power services and earning mining rewards, it allows users to access the complete cloud mining process and earn passive BTC income without purchasing expensive equipment or specialized skills.

Recently, SHRMiner, a UK-based cloud mining platform, officially launched a new “free cloud mining service.” This service is designed for holders of mainstream cryptocurrencies such as BTC, XRP, DOGE, LTC, and EHT, providing users with a new opportunity to participate in cryptocurrency mining without any entry barriers.

How to earn passive income from BTC through SHEMiner cloud mining

Start earning returns in just three simple steps:

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1. Register an account

By visiting the official SHRMiner website, users can register for a free account in less than two minutes and receive a $15 sign-up bonus; this bonus allows them to quickly experience the platform’s services and earn a daily return of $0.60 from a complimentary trial contract.

2. Select a cloud mining plan

Choose a cloud mining plan that suits specific needs and budget. The platform offers flexible plans ranging from $100 to $200,000 to meet the investment goals of different users.

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3. Start earning returns

After purchasing a contract, earnings are automatically settled within 24 hours without requiring additional management or action; users can withdraw their earnings to their cryptocurrency wallet addresses at any time or reinvest the profits to benefit from the compounding effect.

The primary advantage of this model is that it significantly lowers the barrier to entry. Users do not need to research specific mining hardware models or hashrate configurations, nor do they need to set up their own system environments; simply by registering an account, depositing assets, and selecting a mining plan, they can start earning returns.

Trump earned over $1 billion through cryptocurrency; this is how an ordinary investor can earn $17,700 - 3

SHRMiner Platform Advantages:

  • Supports daily automatic settlement
  • No additional electricity or maintenance costs required
  • Utilizes advanced ASIC mining hardware, powered by renewable energy sources including hydropower, wind power, and solar power
  • Supports mining for multiple currencies: earn mainstream cryptocurrencies such as BTC, XRP, ETH, DOGE, USDC, USDT, SOL, LTC, and BCH.
  • Equipped with SSL encryption and DDoS protection, a real-time earnings dashboard for easy monitoring of mining performance
  • 100% remote access, fully accessible via the SHRMiner application or browser without hardware requirements, and 24/7 online technical support.
  • Affiliate Program: The Affiliate Program allows users to earn up to 4.5% commission by referring friends, with the opportunity to earn an additional bonus of up to 30,000.

Examples of common contracts:

Contract Name Price Profit Days Principal + Total Return
New User Experience Agreement $100 $4 2 $100+$8
Bitdeer Sealminer A2 Pro $500 $6.25 5 $500.00 + $31.25
Litecoin Miner L9 $1000.00 $13.00 10 $1000.00 + $130
Bitcoin Miner S21 XP Imm $5000.00 $70.00 25 $5000.00 + $1750
Bitcoin Miner S21e XP Hyd $10000.00 $150.00 35 $10000.00 + $5250
ANTSPACE HW5 $50000.00 $900.00 45 $50000.00 + $40500

After purchasing a contract, earnings will be automatically credited to the user’s account within 24 hours. Upon contract expiration, the principal will be returned in full. Users may withdraw the principal or reinvest it to benefit from compound returns, click here for more details regarding the mining contract.

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Unimaginable money-making opportunities

What sets SHRMiner apart is its extraordinary daily passive income; users have the opportunity to earn $10,700 or even more each day, turning the dream of online wealth into reality. Imagine generating substantial income without the need for ongoing investment or complex setups — that is exactly what SHRMiner offers.

Safety and Sustainability

In the mining sector, trust and security are paramount; SHRMiner fully recognizes this and prioritizes user safety above all else. Committed to transparency and legitimacy, SHRMiner ensures investments are protected, allowing users to focus on profitability. All mining facilities utilize clean energy, making this a carbon-conscious cloud mining operation. Renewable energy protects the environment from pollution while providing a powerful energy source.

In short

For those who are looking for ways to generate passive income, cloud mining is an excellent choice. When approached correctly, these opportunities allow them to effortlessly build cryptocurrency wealth on “autopilot” with minimal time investment. At the very least, they are far less time-consuming than any form of active trading. Passive income is the ultimate goal for every investor and trader, and with SHRMiner, maximizing passive income potential is easier than ever.

To learn more about SHRMiner, visit the official website.

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Disclosure: This content is provided by a third party. Neither crypto.news nor the author of this article endorses any product mentioned on this page. Users should conduct their own research before taking any action related to the company.

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Stacks Bitcoin Staking Upgrade Vote Passes With 99%, Muneeb Says

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Stacks Bitcoin Staking Upgrade Vote Passes With 99%, Muneeb Says


The Stacks community approved SIP-045, the Bitcoin Staking upgrade, with more than 99% of votes cast in favor, Stacks co-creator Muneeb Ali said, setting up a hard fork targeted for around July 29 at roughly Bitcoin block 907,740. The upgrade, formally "PoX-5: Bitcoin Staking and Emission Schedule… Read the full story at The Defiant

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You can lose real BTC trying to sell coins from BIP-110 fork

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You can lose real BTC trying to sell coins from BIP-110 fork

Bitcoin developer Kevin Loaec, who flagged the risk on X this week, said large holders could be targeted first. Doing nothing will be a safer option, he stated, as coins that never move cannot be replayed because there is no signed transaction to copy.

How BIP-110 makes this possible

The reason any of this is happening is a proposal called BIP-110, which would keep pictures, text and other non-payment data out of bitcoin transactions for a year.

Changing bitcoin’s rules requires miners to agree, and they register that agreement by marking the blocks they produce. BIP-110 needs 1,109 marked blocks out of a 2,016-block stretch, or 55%. (A block is the batch of transactions miners add to the ledger roughly every ten minutes.)

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That route is closed but the proposal has a second one written into it. From block 961,632, expected this weekend, computers running BIP-110 software will reject any block that does not carry the mark, whether miners agreed or not.

Almost every block being mined right now does not carry it. So those computers will start rejecting the chain that nearly all of bitcoin’s mining power is building.

If some miners continue building a BIP-110-compatible branch while the rest keep mining bitcoin as usual, two competing versions of the transaction history could emerge. It stalls if nobody keeps extending the minority branch, it stalls.

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