Saylor: BIP-110 Lacks Economic Consensus, Despite Node Adoption

Michael Saylor, Executive Chairman of Strategy Inc., has expressed his opposition to Bitcoin Improvement Proposal 110 (BIP-110), stating that it lacks meaningful economic consensus. Despite claims of support from node adoption, Saylor argues that less than 1% of Bitcoin's economic weight has adopted BIP-110.

Saylor emphasizes that 'Bitcoin is not one node, one vote,' pointing out that reachable node counts represent software endpoints, not economic actors. He notes that a hobbyist node running on a personal computer is not economically equivalent to nodes operated by major exchanges, custodians, wallets, or payment applications serving millions of users.

Saylor claims that more than 99% of Bitcoin's economic weight has not adopted BIP-110 and that no major exchange, custodian, ETF platform, wallet, or payment network has been identified as enforcing the proposal. He previously described BIP-110 as a 'Bitcoin Iatrogenic Proposal,' suggesting it could unintentionally damage Bitcoin's core principles.