Welcome back to another Crypto Daily 3 at 3.

All right, so let's dive right in.

Today was the two-year anniversary of UASF, the user-activated soft fork.

And so this was a really important moment in the history of Bitcoin,

and I think in the history of crypto networks in general,

that we're going to come back to a lot.

And so I wanted to share a little

bit about this and just how much of the community is talking about this today. So Jameson Lop

said today, Bitcoiners celebrate their divorce from terrible ideas and unacceptable compromises.

The market has validated this path for two years by nearly every metric, every conceivable

metric. Bitcoin Forks offering nearly every metric, every conceivable metric.

Bitcoin Forks offering nearly free transactions, struggle to find anyone who cares. So what was this?

So the UASF, for those who weren't there, it's kind of an interesting thing because on the one hand,

there was a, it was an uncontentious technical upgrade around this idea of Segwit. There was large agreement

within the community that this happened. The question was how it was going to happen, how

it was going to be implemented. And where this really took a turn is that there had been kind

of ongoing and simultaneously block size debates about whether there should increase the size

of Bitcoin blocks, in this case from one megabyte to two megabytes.

And in May of 2017, something called the New York Agreement emerged.

And the New York Agreement was effectively a large group of kind of the biggest businesses

who were touching Bitcoin exchanges, mining operations, et cetera. And they effectively came out with a

proposal to implement Segwit, but to at the same time implement a larger block size. And so the

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