Saylor Sounds Alarm on BIP-110 Protocol Change Threatening Bitcoin Integrity

Michael Saylor, co-founder of Strategy, has sounded the alarm on what he believes is the biggest threat to Bitcoin's integrity - misguided protocol changes. He specifically pointed at BIP-110, a proposal that seeks to restrict non-monetary data in transactions.

BIP-110 aims to address issues like Ordinals inscriptions and large OP_RETURN payloads by introducing a one-year soft fork. However, critics argue that it could lead to censorship and damage Bitcoin's credibility as a store of value.

Adam Back, CEO of Blockstream, has also expressed concerns about the proposal, warning that consensus-level restrictions could harm Bitcoin's strength in innovation and set a precedent for future transaction censorship.