Bitcoin's Consensus Rules Under Fire: Michael Saylor Sounds Alarm

Bitcoin's future challenges have been weighed in by Michael Saylor, founder of Strategy. According to him, the biggest challenge facing Bitcoin is the internal erosion of its consensus rules.

Saylor equated Bitcoin's consensus rules to a constitution, emphasizing that any modifications undermine the protocol's neutrality and increase security risks. He specifically mentioned proposals like BIP-110 as examples of such modifications.

Saylor believes these changes would weaken the scarcity of block space and potentially compromise the security of the network. To mitigate this, he advocates for keeping Bitcoin's base layer simple, neutral, scarce, and secure, reserving innovation for secondary layers and application layers.