Michael Saylor, executive chairman and co-founder of Strategy, has vehemently opposed a new proposal to clean up Bitcoin’s “spam”, arguing that it could fundamentally change the way the world’s largest blockchain operates.
Bitcoin Improvement Proposal (BIP) 110, which aims to temporarily restrict arbitrary data in order to focus on core financial functions, is a threat to the core principles of the network, Saylor explained in a comprehensive critique published in X titled “110 Reasons Why BIP-110 is a Bad Idea.”
“The proposed treatment is more dangerous than the symptoms,” Professor Thaler said in a recent detailed analysis. “BIP 110 will use consensus to narrow down valid actions, limit future options, complicate deployment, and establish a precedent that cannot be erased later.”
Thaler’s main objection is based on the “no questions asked” nature of money. “Bitcoin’s intent cannot be read,” Thaler wrote. “The network has no way of knowing whether a byte represents an image, proof, contract, metadata, authentication record, or future application,” it claimed.
By banning “spam,” the Protocol would effectively elevate human judgment to Protocol law, effectively upending Bitcoin’s conservatism.
“Too aggressive”
Saylor is the latest Bitcoin executive to speak out on this hotly debated topic within the Bitcoin community.
