Saylor Slams BIP-110: 'Nobody Controls Bitcoin' Despite Fork Attempt

Michael Saylor has criticized BIP-110, a recent Bitcoin fork that failed to gain significant support from the larger community. Despite its proponents being able to create a modified version of Bitcoin software without permission due to its decentralized design, the fork only generated two blocks and fell behind the main chain by over 80 blocks.

The supporters of BIP-110 would need to mine around 2,015 more blocks at the current rate before they experience their first difficulty adjustment, which could take about 25 years. Saylor argues that this demonstrates Bitcoin's decentralized governance functions as intended, where consensus emerges from the network rather than being controlled by a single entity.

General Partner Dan Held of Asymmetric Financial also expressed similar views, stating that BIP-110 required significant developer time and effort without garnering enough support from the larger community. He claims that some supporters used public pressure, harassment, and personal attacks to sway miners and companies rather than through standard technical discussion and voluntary adoption.