Michael Saylor · Bitcoin · Strategy · CoinDesk
Bitcoin's biggest advocate, Michael Saylor, says new plan to clean up the blockchain is 'a bad idea'
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Michael Saylor, executive chairman and co-founder of Strategy, has come out swinging against a new proposal to clean up Bitcoin’s ‘spam,’ arguing that it could fundamentally alter how the world’s largest blockchain operates.
Key facts
- Saylor, whose firm holds 843,775 BTC, worth $54.31 billion as of Sunday, and is the world’s largest publicly listed bitcoin treasury firm, calls this mechanism "too aggressive," warning that it
- One of the most debated parts of BIP 110 is that it changes how upgrades get approved
- BIP 110 could create a "chilling effect" on developers and innovation, he explained, adding that if today’s target is data storage, tomorrow’s target could be privacy tools, novel custody solutions
- Michael Saylor, executive chairman and co-founder of Strategy, has come out swinging against a new proposal to clean up Bitcoin’s ‘spam,’ arguing that it could fundamentally alter how the world’s
Summary
Michael Saylor is warning that Bitcoin Improvement Proposal 110 (BIP-110), which would temporarily restrict the arbitrary storage of data on the blockchain, threatens Bitcoin’s core principles and neutrality. The proposal would introduce a one-year soft fork with new consensus limits on data and a lower 55% miner-signaling threshold, a change Saylor says risks network splits and market uncertainty. Saylor argues that fee markets and relay policies, not consensus changes, should address so-called spam, warning that BIP 110 could restrict innovation, weaken miner incentives and undermine Bitcoin’s role as an open, permissionless financial system.