Pinned Tweet
BREAKING: New Bitcoin Fork
I am helping create a **new Bitcoin Hardfork** -- dropping this August, called "eCash".
- Your coins will split. For example, if you have 4.19 BTC, then you will get 4.19 eCash.
- You may sell your eCash -- or keep it. Or ignore it!
Vegas:
- Yes, I will be in Vegas next week.
- No, I won't mention this, on stage -- (that would be rude).
Our L1 Node...
- is a near-copy of Bitcoin Core.
- is Sha256d mined.
- forks via a one-time difficulty-reset -- to its minimum value. (So, mining will be crazy at first.)
- Yes, we will change the seed nodes, the name, the network magic, etc.
Codewise, the L1 will remain compatible with Bitcoin Core:
- We will continue to merge their changes (even the bad ones).
- The L1 will activate Bip300/301 via CUSF -- the core untouched soft fork. So, no lines of code will be changed, on the L1.
- The activation client will be published periodically (link below).
- We will do several bug bounty contests this summer.
- The client will be frozen 30 days prior to the fork.
Yes, there will be Drivechains:
- We have 7 in developement right now.
- Users can also submit their own.
- Drivechain is a vision of "competing L2s" -- this avoids the "dev capture" problem.
- These L2s are all Merged Mined. Miners automatically get free $.
- Our L2s are already capable of planetary scale, and onboarding 8 billion users.
- We also have a zCash-like L2, with strong privacy.
- Other L2s: Truthcoin (Prediction Markets), CoinShift (Decentralized Exchange), BitAssets (NFT etc), BitNames (Identity), Photon (Quantum Resistant).
Unlike BCH (the 2017 fork):
- There is no "Bitcoin" in the name. New name, new brand.
- You are getting advanced warning (4 months).
- We are replaying all txns (at first). We will release a coin-splitter tool.
- This is a permanent & sustainable fix to Bitcoin's problems (instead of a 1 MB to 8 MB temporary fix).
- Back in 2017, the BTC tech stack was strong, and expectations for Lightning were strong. Today, it is the reverse.
Video to follow.
I am helping create a **new Bitcoin Hardfork** -- dropping this August, called "eCash".
- Your coins will split. For example, if you have 4.19 BTC, then you will get 4.19 eCash.
- You may sell your eCash -- or keep it. Or ignore it!
Vegas:
- Yes, I will be in Vegas next week.
- No, I won't mention this, on stage -- (that would be rude).
Our L1 Node...
- is a near-copy of Bitcoin Core.
- is Sha256d mined.
- forks via a one-time difficulty-reset -- to its minimum value. (So, mining will be crazy at first.)
- Yes, we will change the seed nodes, the name, the network magic, etc.
Codewise, the L1 will remain compatible with Bitcoin Core:
- We will continue to merge their changes (even the bad ones).
- The L1 will activate Bip300/301 via CUSF -- the core untouched soft fork. So, no lines of code will be changed, on the L1.
- The activation client will be published periodically (link below).
- We will do several bug bounty contests this summer.
- The client will be frozen 30 days prior to the fork.
Yes, there will be Drivechains:
- We have 7 in developement right now.
- Users can also submit their own.
- Drivechain is a vision of "competing L2s" -- this avoids the "dev capture" problem.
- These L2s are all Merged Mined. Miners automatically get free $.
- Our L2s are already capable of planetary scale, and onboarding 8 billion users.
- We also have a zCash-like L2, with strong privacy.
- Other L2s: Truthcoin (Prediction Markets), CoinShift (Decentralized Exchange), BitAssets (NFT etc), BitNames (Identity), Photon (Quantum Resistant).
Unlike BCH (the 2017 fork):
- There is no "Bitcoin" in the name. New name, new brand.
- You are getting advanced warning (4 months).
- We are replaying all txns (at first). We will release a coin-splitter tool.
- This is a permanent & sustainable fix to Bitcoin's problems (instead of a 1 MB to 8 MB temporary fix).
- Back in 2017, the BTC tech stack was strong, and expectations for Lightning were strong. Today, it is the reverse.
Video to follow.
397
390
2,817
8,647,269
Paul Sztorc retweeted
our glorious leader @Truthcoin joins the stream
Fork day: eCrash-out x.com/i/broadcasts/2…
2
2
10
645
Paul Sztorc retweeted
bitcoin forks today and every coin gets a twin.
block 973,728. when i checked it was 5 blocks away, around 19:40 paris time.
paul sztorc (@Truthcoin, the drivechains guy) calls it ecash, ticker ecx.
he says it's the permanent fix for what bitcoin won't ship.
i read his whole faq ere's what holds up:
1. every btc address at the fork gets the same amount of ecx. 1 $btc = 1 ECX. no claim form, no registration.
2. not "21m airdropped". it copies what exists, roughly 20.1m.
3. satoshi's ~1.1m early coins: 600k ecx stay there, ~500k get moved by 232 hard-coded transactions to investors and dev funding. his words: "we gift satoshi 600,000 ecash".
4. replay protection is opt-in. move your btc without splitting and the ecx follows it.
5. big exchanges: mostly silence. bitflyer said no. coinw and gmo coin plan to distribute.
6. drivechains: 7 in development, none live on day one. miners have to switch them on.
the fork drill from 2017:
no rush, there's no claim deadline.
a seed that still guards btc never goes into new software.
wait for the splitter and for other people to test it first.
my stack is small enough that the safety manual weighs more than the airdrop.
and it's ecash.com, not e.cash. that one is a different coin, also called ecash.
crypto ran out of names before it ran out of forks.
block 973,728. when i checked it was 5 blocks away, around 19:40 paris time.
paul sztorc (@Truthcoin, the drivechains guy) calls it ecash, ticker ecx.
he says it's the permanent fix for what bitcoin won't ship.
i read his whole faq ere's what holds up:
1. every btc address at the fork gets the same amount of ecx. 1 $btc = 1 ECX. no claim form, no registration.
2. not "21m airdropped". it copies what exists, roughly 20.1m.
3. satoshi's ~1.1m early coins: 600k ecx stay there, ~500k get moved by 232 hard-coded transactions to investors and dev funding. his words: "we gift satoshi 600,000 ecash".
4. replay protection is opt-in. move your btc without splitting and the ecx follows it.
5. big exchanges: mostly silence. bitflyer said no. coinw and gmo coin plan to distribute.
6. drivechains: 7 in development, none live on day one. miners have to switch them on.
the fork drill from 2017:
no rush, there's no claim deadline.
a seed that still guards btc never goes into new software.
wait for the splitter and for other people to test it first.
my stack is small enough that the safety manual weighs more than the airdrop.
and it's ecash.com, not e.cash. that one is a different coin, also called ecash.
crypto ran out of names before it ran out of forks.
3
2
17
663
Paul Sztorc retweeted
₿ Has Bitcoin become too resistant to change?
@LayerTwoLabs CEO Paul Sztorc (@Truthcoin) argues that Bitcoin's culture shifted after the block size wars, making it increasingly difficult to discuss unresolved technical problems.
Watch now 👇
youtu.be/1u6VJBHH3F8
@LayerTwoLabs CEO Paul Sztorc (@Truthcoin) argues that Bitcoin's culture shifted after the block size wars, making it increasingly difficult to discuss unresolved technical problems.
Watch now 👇
youtu.be/1u6VJBHH3F8
1
4
12
356
Paul Sztorc retweeted
🎙️ NEW episode is live!
Dylan Grabowski sits down with Paul Sztorc (@Truthcoin), CEO of @LayerTwoLabs & founder of eCash, to discuss:
₿ Bitcoin's resistance to change
⛓️ Drivechain & L2s
⚡ The security budget
🌐 Why he launched eCash
📺 Watch now:
youtu.be/1u6VJBHH3F8
Dylan Grabowski sits down with Paul Sztorc (@Truthcoin), CEO of @LayerTwoLabs & founder of eCash, to discuss:
₿ Bitcoin's resistance to change
⛓️ Drivechain & L2s
⚡ The security budget
🌐 Why he launched eCash
📺 Watch now:
youtu.be/1u6VJBHH3F8
3
4
16
798
Paul Sztorc retweeted
Bitcoin airdrop season is back: if you haven't claimed yet BTC Blake2b is still trading ~$300 (snapshot block 961632 - ty @LukeDashjr) and eCash is about to drop (block 973727) - enjoy!
0
1
8
440
Paul Sztorc retweeted
When I first started researching Bitcoin years ago, I spent a lot of time following discussion in this thread:
bitcointalk.org/index.php?topi….
"The thread is beginning to show something I find frightening. There exists no generally accepted model or even set of rules for Bitcoin in the future. A portion of people claim that removing the transaction limit will do no harm, the others use it as the last argument why Bitcoin will not enter the failure scenario described."
Still, 15 years later, many people in Bitcoin have not digested the problems there, let alone agreed upon a solution.
The basic problem is that Bitcoin ultimately needs high total transaction fee revenue. However, we can't reliably get those fees from large L1 block sizes because (A) Node costs will be huge (important read: truthcoin.info/blog/measuring…) and because too-large fixed block sizes lead to the Bitcointalk "disturbingly low difficulty equilibrium". Yet, to be competitive with other payment networks, (B) marginal L1 transaction fees must be low. The typical user needs to be able to transact cheaply when they want to.
The only way to have high total fees with a small block size is to have high average fees. To have high average fees and low marginal L1 fees, we need some transactions "overpaying" a *lot* for blockspace.
But the current design of Bitcoin L2s does not allocate the "overpayment" properly. In fact, the Lightning Network (and competitors within and to the Bitcoin ecosystem) compete with L1 block space for fees, guaranteeing that fees are generally low via substitution, and don't remit *any* fees to L1. To make matters worse, LN itself depends on stable and low L1 fees for the justice transaction. If dishonest users try to steal, or if miners try to censor, or if attackers deliberately attack (arxiv.org/pdf/2208.01908), many LN channels need to close all at once. So while LN is functioning normally and relaying thousands of transactions, L1 miners get nothing and Bitcoin's security is entirely subsidy-driven. When does the "overpayment" to L1 miners happen? Well, exactly when LN is under attack and needs to settle!
(And in general, any L2 that hides tx fees from miners can be attacked in this way, since they all need to settle on L1 one way or another truthcoin.info/blog/all-world…)
In the long-run, knowledge of this instability means that users won't want to use systems that depend on a fragile assumption about blockspace availability, especially if it's competing with miner revenue. And yet, remember, typical transaction fees on Bitcoin will need to be low or will push people to other L1s.
So again, we need marginal L1 fees to be low so "justice-like" transactions can happen when they need to, but average fees to be very high because L1 block size must be small--we want cheap L1 nodes.
How can we make it so marginal fees are low but average fees are high? Who would overpay indefinitely for blockspace inclusion?
The only solution I'm aware of ends up looking like merge-mined sidechains. Miners decide on the effective total (L1 + L2) blocksize via allowing merge-mined sidechains that pass on their *total* fees via small periodic L1 commitment transactions, leaving plenty of room for low-cost L1 space for other commitments or justice transactions. We get high average L1 fees from a few L2 commitment transactions passing on virtually all fees from each sidechain, and miners (who are paid) do a trivial amount of extra work managing withdrawals and activations of new sidechains, while L1 nodes can freely ignore all activity.
Not to mention that virtually any blockchain protocol can be implemented as an L2: privacy, prediction markets, bitdns, smart contracting, property registries, stablecoins, etc. *All* of which benefits the L1's security and allows the native asset to behave like digital gold forever.
After ~10 years of developing and debating the idea with mainstream Bitcoiners, Paul and fans of Drivechain finally decided to test this out as a fork of Bitcoin called Ecash, which is very exciting.
There will be challenges and things we learn along the way, but the broader Bitcoin community needs this experiment, needs to put their money where their mouth is, and will benefit from confronting these difficult governance, scalability, and sustainability questions. And obviously, just like the split last month, every Bitcoiner gets free ECX for every BTC they have, so be grateful!
bitcointalk.org/index.php?topi….
"The thread is beginning to show something I find frightening. There exists no generally accepted model or even set of rules for Bitcoin in the future. A portion of people claim that removing the transaction limit will do no harm, the others use it as the last argument why Bitcoin will not enter the failure scenario described."
Still, 15 years later, many people in Bitcoin have not digested the problems there, let alone agreed upon a solution.
The basic problem is that Bitcoin ultimately needs high total transaction fee revenue. However, we can't reliably get those fees from large L1 block sizes because (A) Node costs will be huge (important read: truthcoin.info/blog/measuring…) and because too-large fixed block sizes lead to the Bitcointalk "disturbingly low difficulty equilibrium". Yet, to be competitive with other payment networks, (B) marginal L1 transaction fees must be low. The typical user needs to be able to transact cheaply when they want to.
The only way to have high total fees with a small block size is to have high average fees. To have high average fees and low marginal L1 fees, we need some transactions "overpaying" a *lot* for blockspace.
But the current design of Bitcoin L2s does not allocate the "overpayment" properly. In fact, the Lightning Network (and competitors within and to the Bitcoin ecosystem) compete with L1 block space for fees, guaranteeing that fees are generally low via substitution, and don't remit *any* fees to L1. To make matters worse, LN itself depends on stable and low L1 fees for the justice transaction. If dishonest users try to steal, or if miners try to censor, or if attackers deliberately attack (arxiv.org/pdf/2208.01908), many LN channels need to close all at once. So while LN is functioning normally and relaying thousands of transactions, L1 miners get nothing and Bitcoin's security is entirely subsidy-driven. When does the "overpayment" to L1 miners happen? Well, exactly when LN is under attack and needs to settle!
(And in general, any L2 that hides tx fees from miners can be attacked in this way, since they all need to settle on L1 one way or another truthcoin.info/blog/all-world…)
In the long-run, knowledge of this instability means that users won't want to use systems that depend on a fragile assumption about blockspace availability, especially if it's competing with miner revenue. And yet, remember, typical transaction fees on Bitcoin will need to be low or will push people to other L1s.
So again, we need marginal L1 fees to be low so "justice-like" transactions can happen when they need to, but average fees to be very high because L1 block size must be small--we want cheap L1 nodes.
How can we make it so marginal fees are low but average fees are high? Who would overpay indefinitely for blockspace inclusion?
The only solution I'm aware of ends up looking like merge-mined sidechains. Miners decide on the effective total (L1 + L2) blocksize via allowing merge-mined sidechains that pass on their *total* fees via small periodic L1 commitment transactions, leaving plenty of room for low-cost L1 space for other commitments or justice transactions. We get high average L1 fees from a few L2 commitment transactions passing on virtually all fees from each sidechain, and miners (who are paid) do a trivial amount of extra work managing withdrawals and activations of new sidechains, while L1 nodes can freely ignore all activity.
Not to mention that virtually any blockchain protocol can be implemented as an L2: privacy, prediction markets, bitdns, smart contracting, property registries, stablecoins, etc. *All* of which benefits the L1's security and allows the native asset to behave like digital gold forever.
After ~10 years of developing and debating the idea with mainstream Bitcoiners, Paul and fans of Drivechain finally decided to test this out as a fork of Bitcoin called Ecash, which is very exciting.
There will be challenges and things we learn along the way, but the broader Bitcoin community needs this experiment, needs to put their money where their mouth is, and will benefit from confronting these difficult governance, scalability, and sustainability questions. And obviously, just like the split last month, every Bitcoiner gets free ECX for every BTC they have, so be grateful!
REMINDER: New Bitcoin Hardfork **Oct 31** !
- After two successful test networks (Aug 23, Sept 20), the real network is ready to go.
- Full node software available NOW.
- Pre-trading (via a wrapped token) is LIVE.
Details below...
1
4
13
471
Exchange PSA: Split your coins asap, otherwise you will probably lose some/all ECX, to transaction replay !
The split guide: eCash.com/split
Those exchanges that are slow to implement replay protection, are facing a potential nightmare.
Of course, given that...
- I explained this >6 months ago
- There were two whole, live, test networks to practice on
- There was already one big delay
...I'm not sure how much sympathy we should have.
If you don't care about your ECX, then I can't force you to care! It's your net worth that will go down, not mine.
Roughly 30 hours to go!
The split guide: eCash.com/split
Those exchanges that are slow to implement replay protection, are facing a potential nightmare.
Of course, given that...
- I explained this >6 months ago
- There were two whole, live, test networks to practice on
- There was already one big delay
...I'm not sure how much sympathy we should have.
If you don't care about your ECX, then I can't force you to care! It's your net worth that will go down, not mine.
Roughly 30 hours to go!
12
23
88
7,197
Paul Sztorc retweeted
Paul Sztorc (@Truthcoin) is creating a new Bitcoin hardfork called eCash (ECX) on October 29th
Will ECX be listed on a major exchange by the end of the year?
beta.predyx.com/market/ecash-b…
Will ECX be listed on a major exchange by the end of the year?
beta.predyx.com/market/ecash-b…
6
10
29
1,086
Pretrading on ECX
View the split guide on eCash.com/split for how to safely split your BTC into (BTC + ECX)
View the split guide on eCash.com/split for how to safely split your BTC into (BTC + ECX)
Wrapped eCash (WECX) on the Solana network has been listed on SideShift.
Bitcoin with drivechains.
Forks at block 973,728 (est. 29 Oct, 16:33 UTC).
Holders can unwrap WECX to ECX after Oct 31.
Shift now → sideshift.ai/btc/wecx
6
12
45
3,598
I loved the movie
But it would be cool if Nathan released the "Billy cut" (insert joke here), ie the supposedly different version of the film he would have released if Billy was going to profit from it
If those two versions of the film are exactly the same, then what difference does it make if they profited or not? Apparently none.
But it would be cool if Nathan released the "Billy cut" (insert joke here), ie the supposedly different version of the film he would have released if Billy was going to profit from it
If those two versions of the film are exactly the same, then what difference does it make if they profited or not? Apparently none.
Nathan Fielder Made a Dishonest Movie
His Elizabeth Holmes documentary, You Can See Everything, is a deeply unethical piece of filmmaking.
One can imagine that the victims of Holmes' Theranos scam will find You Can See Everything a frustrating film to watch. At the end of the day, this woman defrauded them of hundreds of millions of dollars. Her precise motives for doing so probably aren't all that interesting to them.
reason.com/2026/10/26/nat… via @reason
0
0
5
1,497
Paul Sztorc retweeted
Why did @Truthcoin turn against Bitcoin maximalism?
Paul joined the @CRYPTO101Pod to discuss that plus:
• The problems with Lightning
• Why Bitcoin needs better Layer 2 solutions
• Sidechain security and the Liquid exploit
• Drivechains and the future of Bitcoin fork
Full episode: youtube.com/watch?v=j17Ngj…
Paul joined the @CRYPTO101Pod to discuss that plus:
• The problems with Lightning
• Why Bitcoin needs better Layer 2 solutions
• Sidechain security and the Liquid exploit
• Drivechains and the future of Bitcoin fork
Full episode: youtube.com/watch?v=j17Ngj…
3
8
32
1,359
A page on how to split your coins (and sell one or the other): eCash.com/split
@sova40a @BTCdrivechains @Truthcoin You have to use the coin splitting feature from ecash.com
But maybe you can wait until Ledger adds support for ECX 🤷🏻♂️
4
4
30
3,004
3 Days Remaining!!
BREAKING: New Bitcoin Fork
I am helping create a **new Bitcoin Hardfork** -- dropping this August, called "eCash".
- Your coins will split. For example, if you have 4.19 BTC, then you will get 4.19 eCash.
- You may sell your eCash -- or keep it. Or ignore it!
Vegas:
- Yes, I will be in Vegas next week.
- No, I won't mention this, on stage -- (that would be rude).
Our L1 Node...
- is a near-copy of Bitcoin Core.
- is Sha256d mined.
- forks via a one-time difficulty-reset -- to its minimum value. (So, mining will be crazy at first.)
- Yes, we will change the seed nodes, the name, the network magic, etc.
Codewise, the L1 will remain compatible with Bitcoin Core:
- We will continue to merge their changes (even the bad ones).
- The L1 will activate Bip300/301 via CUSF -- the core untouched soft fork. So, no lines of code will be changed, on the L1.
- The activation client will be published periodically (link below).
- We will do several bug bounty contests this summer.
- The client will be frozen 30 days prior to the fork.
Yes, there will be Drivechains:
- We have 7 in developement right now.
- Users can also submit their own.
- Drivechain is a vision of "competing L2s" -- this avoids the "dev capture" problem.
- These L2s are all Merged Mined. Miners automatically get free $.
- Our L2s are already capable of planetary scale, and onboarding 8 billion users.
- We also have a zCash-like L2, with strong privacy.
- Other L2s: Truthcoin (Prediction Markets), CoinShift (Decentralized Exchange), BitAssets (NFT etc), BitNames (Identity), Photon (Quantum Resistant).
Unlike BCH (the 2017 fork):
- There is no "Bitcoin" in the name. New name, new brand.
- You are getting advanced warning (4 months).
- We are replaying all txns (at first). We will release a coin-splitter tool.
- This is a permanent & sustainable fix to Bitcoin's problems (instead of a 1 MB to 8 MB temporary fix).
- Back in 2017, the BTC tech stack was strong, and expectations for Lightning were strong. Today, it is the reverse.
Video to follow.
5
14
64
4,370