Saylor Slams BIP 110, Citing Threat to Bitcoin's Neutral Protocol Rules

Michael Saylor has come out against BIP 110, a proposed set of seven temporary consensus restrictions aimed at reducing arbitrary data stored through Bitcoin transactions. According to Saylor, executive chairman of Strategy, formerly MicroStrategy, the proposal would 'trade neutral protocol rules for a limited and largely symbolic reduction in blockchain data.'

The Reduced Data Temporary Softfork would temporarily cap some script sizes, restrict Taproot control blocks, and prevent spending through undefined witness versions. Its supporters argue that these measures could reduce node costs and keep block space focused on payments.

Saylor agrees with the goal of protecting node operators, preserving affordable transactions, and discouraging Bitcoin's use as a general storage network. However, he argues that BIP 110 uses seven consensus rules to reject valid, fee-paying activity without measuring the costs those transactions impose.

The proposal reached 'Complete' status under BIP 3 on June 25, but Saylor says that this does not resolve the wider precedent. He also objects to bundling all seven restrictions into one package and using a 55% miner-signaling threshold, below the 95% level associated with BIP 9 deployments.