Saylor Sounds Alarm on Internal Threats to Bitcoin

Bitcoin's co-founder Michael Saylor has issued a warning about potential threats to the cryptocurrency. According to him, the main danger does not come from external factors, but rather from internal disagreements within the community.

Saylor emphasizes that Bitcoin's consensus rules serve as a kind of constitution for the network, guaranteeing ownership, scarcity, fairness of settlements, and balance among participants. He criticizes proposals to change these rules, including BIP-110, covenant mechanisms, and increasing block sizes, which he believes could lead to censorship, create new security risks, and give certain factions excessive influence.

He also stresses the importance of the fee market for miners, warning that destroying it would deprive the network of the support it needs from those who ensure its security. Saylor predicts that Bitcoin has the potential to grow 100-fold and become the foundation of the global capital market, but cautions against making hasty or erroneous changes to the rules.