Michael Saylor Calls BIP-110 Bitcoin’s Biggest Self-Inflicted Risk
Michael Saylor believes BIP-110 protocol changes pose the greatest threat to Bitcoin, despite the asset winning the 'narrative war'.Summary
MicroStrategy co-founder Michael Saylor asserts that Bitcoin has achieved global acceptance as digital capital, moving beyond the influence of four-year halving cycles and becoming driven by institutional capital flows. However, he identifies BIP-110, a proposed protocol change, as the biggest risk to Bitcoin's future. BIP-110 aims to modify block selection by allowing miner voting, intending to enhance consensus flexibility and resist mining attacks, but Saylor labels such protocol changes as 'iatrogenic' – harmful. The proposal has deeply divided the Bitcoin community, with proponents arguing it defends Bitcoin as sound money by limiting blockchain bloat from Ordinals and BRC-20 tokens, while opponents, like Adam Back, fear it could damage Bitcoin’s credibility and set a precedent for censorship. The debate is further complicated by a lower-than-usual activation threshold of 55% hash power, and a recent invitation from Bitcoin Conference organizer David Bailey to BIP-110 supporters, which was met with skepticism. The BIP-110 signaling process is ongoing, with a potential activation decision expected later in 2026, representing a fundamental contest over Bitcoin’s future direction.
(Source：BeInCrypto)