Michael Saylor, co-founder and executive chairman of Strategy, published an essay with 110 arguments against BIP-110, a proposal that aims to change network rules Bitcoin and has been dividing developers, node operators, and miners. The text quickly gained traction in the community, surpassing 840 thousand views.
When releasing the article, Saylor stated that he shares supporters' concern about protecting Bitcoin, but believes the proposed solution may generate more harm than benefits.
Titled "110 Reasons Why BIP 110 Is a Bad Idea", the essay argues that consensus rules should not judge the purpose of valid transactions. According to Saylor, node operators are free to choose which data they want to relay, store, or index, without needing to modify the network protocol.
The executive argues that changes to consensus rules should only occur in the face of proven validation risks or denial-of-service attacks, and not to limit certain uses considered undesirable.
The BIP-110 proposal emerged after changes implemented in Bitcoin Core that removed standard limits related to the OP_RETURN field. The project establishes, for a period of one year, restrictions on the storage of large volumes of data on the blockchain. The client compatible with the proposal is based on Bitcoin Knots, software maintained by Luke Dashjr, chief technology officer of Ocean and one of the main advocates of the initiative.
Among the most commented excerpts from the essay is the phrase: "Bitcoin does not need guardians of purity. It needs guardians of neutrality."
So far, support remains far from what is needed for early activation. Estimates indicate that only between 7% and 15% of nodes run clients compatible with BIP-110, while supporters of the proposal claim that the temporary restrictions would help preserve Bitcoin's monetary use and reduce the network's use for storing non-financial data.
So far, support remains far from what is needed for early activation. Estimates indicate that only between 7% and 15% of nodes run clients compatible with BIP-110, while supporters of the proposal claim that the temporary restrictions would help preserve Bitcoin's monetary use and reduce the network's use for storing non-financial data.
