Saylor Sounds Alarm on Bitcoin's Biggest Risk: Changes from Within

Michael Saylor has sounded the alarm about the biggest risk facing Bitcoin. According to him, changes to its consensus rules pose a greater long-term threat than rival cryptocurrencies, governments, or external competition.

Saylor argued that consensus rules protect property rights, scarcity, settlement, and limits on power. He warned that proposals such as BIP-110 could weaken block-space scarcity and miners' fee revenue.

The Strategy Executive Chairman sees Bitcoin's consensus rules as its constitution. He believes that changing these rules to serve one group would infringe on the economic rights of miners, developers, investors, companies, custodians, and other users.