Bitcoin developer Luke Dashjr has rejected calls to withdraw the controversial upgrade proposal known as BIP 110 within the network. The proposal, which aims to introduce data regulation, was introduced as a temporary compromise setting against the spam pressure caused by non-financial data usage such as Ordinals and Runes.
Focus of BIP 110 debate
Supporters of the proposal argue that adding non-financial data to the chain unnecessarily occupies the network and increases the data storage burden. In this view, this traffic puts additional pressure on Bitcoin’s core transaction function.
Dashjr, which also maintains the Bitcoin Knots software, clearly stated that it would not back down from the offer. Bitcoin Knots is known as one of the alternative client software on the Bitcoin network and is closely watched, especially within the technical community.
While Luke Dashjr stated that Michael Saylor did not make an evaluation about BIP 110, he said that it was too late to cancel the proposal.
Dashjr also warned that the current proposal may not be the final step. He stated that if the Bitcoin Core team makes the necessary adjustments within the next year, there may not be a need for an additional long-term soft fork, otherwise a new follow-up step may come to the fore.
Saylor’s emphasis on stability over change
Strategy Chairman Michael Saylor, in his recently published philosophical text, argued that Bitcoin’s long-term success depends on preserving the principle of immutability. Saylor stated that the biggest evolution for Bitcoin in the next decade will come from fewer exchanges.
Michael Saylor says Bitcoin is not a tech stock, payment company or software platform racing to add new features; He emphasized that his goal is not to move fast and break things, but to move slowly and keep the system intact.
Saylor thinks protocol changes must meet an extremely strong justification threshold to be accepted. This approach has led to a renewed discussion of the balance between technical innovation in Bitcoin and the conservative nature of the network.
Institutional capital and leverage warning
According to Saylor, the growth direction of the Bitcoin network will mainly be determined by large institutional capital flows. He said that the halving tightened the supply, while capital inflows will shape the growth route.
However, Saylor also warned that excessive leverage could increase the risk of “paper Bitcoin”. This statement indicates that the proliferation of financial positions tied to the underlying asset rather than the underlying asset itself may put pressure on the market structure.
