Saylor Sounds Alarm Over BIP-110 Threat to Bitcoin Integrity
Michael Saylor has sounded the alarm about a potential threat to Bitcoin's integrity. He warns that misguided protocol changes, specifically those tied to BIP-110, could harm the network from within.
Saylor argues that bad ideas driving iatrogenic protocol changes are the single greatest danger to Bitcoin. He uses the term 'iatrogenic' to describe harm caused by treatment itself, which he believes is a fitting description for the risks associated with BIP-110.
The proposal in question aims to restrict non-monetary data in Bitcoin transactions through a temporary one-year soft fork. This would target Ordinals inscriptions, BRC-20 tokens, and large OP_RETURN payloads that critics say bloat the blockchain and raise costs for node operators.
However, Adam Back, CEO of Blockstream, has taken an opposing view. He warns that consensus-level restrictions could damage Bitcoin's credibility as a store of value and set a precedent for future transaction censorship.