Bitcoin bulls Michael Saylor, Adam Back slam BIP-110 Ordinals proposal
Bitcoin bulls Michael Saylor and Adam Back oppose BIP-110, a proposed fork limiting Ordinals inscriptions on the network. They argue the temporary restriction risks invalidating transactions and contradicts Bitcoin's decentralization ethos. BIP-110 needs 55% node support to activate but currently has minimal backing. Ordinals activity has declined sharply from 2023 peaks, reducing urgency for protocol changes.
Key takeaways
- 1BIP-110 requires 55% node support to activate but only secured 1% backing in the last validation period, making activation unlikely.
- 2Michael Saylor and Adam Back oppose BIP-110, citing risks of invalidating transactions and compromising Bitcoin's decentralization principles.
- 3Ordinals inscriptions have plummeted to under 10,000 daily from 400,000 peak in August 2023, reducing urgency for protocol restrictions.
Coins in this story
Why it matters
This debate reflects fundamental disagreements about Bitcoin's future between developers and major holders, with implications for network governance and protocol changes affecting India's growing Bitcoin investor base seeking clarity on network stability and censorship-resistance.
Related stories
Empery Digital shares rise after selling Bitcoin treasury to fund AI data center project
The sales come months after a major Empery shareholder demanded the firm ditch its Bitcoin treasury strategy and force the resignation of its CEO and board....
Trump’s crypto disclosure exposes an institutional problem that markets price in real time
Trump's latest financial disclosure reveals substantial crypto-related revenue from token licensing and World Liberty Financial ventures. The disclosure highlights a governance issue: crypto assets respond faster to policy signals than traditional businesses, compressing investment, regulation, and branded products into one domain. When presidential power overlaps with personal crypto gains, markets price in potential conflicts in real time.
Bitcoin’s $64K rebound has 3 days before its next big challenge threatens to derail momentum
July 14 will show whether one day of ETF inflows can outlast firm yields and restrained leverage. The post Bitcoin’s $64K rebound has 3 days before its next big challenge threatens to derail momentum appeared first on CryptoSlate....