The BIP 110 proposal would cap arbitrary data on Bitcoin for a year, but Michael Saylor, Adam Back and others say turning a spam dispute into a consensus fight could create a bigger risk than the spam itself.
- A controversial proposal known as BIP-110, which would temporarily restrict non-financial data on the Bitcoin blockchain, faces an early August deadline with miner support still below 1%.
- The measure would tighten limits on OP_RETURN and other data-carrying methods for one year, a move backers say would refocus Bitcoin on payments but critics argue improperly censors valid, fee-paying transactions.
- With major figures like Michael Saylor and Adam Back opposing the plan and both miner and node adoption stuck in the low single digits, BIP-110 appears likely to create only a small minority chain rather than a network-wide change.
Adam Back, the Blockstream co-founder whose hashcash design is cited in the bitcoin white paper, made a similar case at greater length, addressed to the newcomers backing the proposal.
"Bitcoin respectfully says no to what you want," he said , adding that their real recourse, if unconvinced, is to group together and fork away, but that "bitcoin won't be joining it."
The support data shows what the broader market really thinks. BIP 110 does not rely on the usual path of overwhelming miner approval, but uses a user-activated soft fork, a mechanism in which nodes enforce a rule whether or not miners agree, set to a 55% miner-signaling threshold rather than the traditional 95%.
Backing is absent even at that significantly lower bar.
Miner signaling has never risen above about 1% in any period and stands at zero in the current one, with no major mining pool behind it, according to the BIP 110 signaling monitor.
Among the nodes that store and relay the chain, adoption sits in the low single digits, carried almost entirely by Bitcoin Knots, an alternative to the dominant Bitcoin Core software.
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Why it matters :
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