Bitcoin’s biggest advocate, Michael Saylor, says new plan to clean up the blockchain is ‘a bad idea’
Michael Saylor argues that a new proposal, BIP-110, to temporarily block “spam” data from the Bitcoin blockchain would undermine the network’s neutrality and create a dangerous precedent for censorship.
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Summary
- Michael Saylor is warning that Bitcoin Improvement Proposal 110 (BIP-110), which would temporarily restrict the arbitrary storage of data on the blockchain, threatens Bitcoin’s core principles and neutrality.
- The proposal would introduce a one-year soft fork with new consensus limits on data and a lower 55% miner-signaling threshold, a change Saylor says risks network splits and market uncertainty.
- Saylor argues that fee markets and relay policies, not consensus changes, should address so-called spam, warning that BIP 110 could restrict innovation, weaken miner incentives and undermine Bitcoin’s role as an open, permissionless financial system.
