Michael Saylor Warns Against BIP-110 Bitcoin Fee Censorship Rules As Mining Support Hits 2.64%
Michael Saylor warned against proposals to rewrite Bitcoin’s consensus rules, arguing that changes to the fee market and transaction censorship threaten miner revenue and network security. Mining pool support for the BIP-110 protocol upgrade currently sits at 2.64% as the network approaches block 961,632 on or around Aug. 9.
Saylor outlined specific risks in competing proposals, noting that transaction censorship removes miner discretion, larger block sizes raise bandwidth and validation costs, and new covenants complicate consensus. Because the block reward subsidy halves every 210,000 blocks, he stated that transaction fees must carry more of the security burden, and restricting the fee market would leave miners undercapitalized. Major pools including Foundry USA, Antpool and ViaBTC have not increased their signaling support.
From the sources (16 posts)
@saylorRT @IIICapital: Unpopular opinions: 1. I like self-custody Bitcoin. 2. I like Bitcoin's current consensus rules. 3. Bitcoin's consensus…
@saylorBitcoin has won. Now it must survive victory. Its gravest threat is not an enemy at the gates, but corruption from within: factions that invent pretexts, rewrite the rules, and seize economic rights until freedom becomes permission and law
@saylorBitcoin’s consensus rules are its constitution. They define property, scarcity, settlement, and power. To rewrite them for the convenience of any faction is to attack the economic rights of every participant today and every generation to c
@saylorBitcoin can grow 100-fold and become the foundation of global capital. A single corrupt rule adopted today could rob future generations of markets not yet built, technologies not yet imagined, and economic freedom not yet won.
@saylorStatism wears many uniforms, but its method never changes: manufacture a crisis, suspend neutral rules, seize economic rights, and call theft justice. Civilizations rot from within when factions capture the law. Bitcoin will rot the same w
@saylorSome proposals, like BIP-110, censor valid fee-paying transactions. Others add covenant machinery. Others demand larger blocks. Different instruments, same constitutional offense: a faction rewrites Bitcoin’s rules and imposes its agenda,
@saylorCensorship forbids miners to serve willing buyers. Larger blocks dilute blockspace scarcity and raise bandwidth and validation costs. Covenants permanently complicate consensus and create new attack surfaces. Less freedom. Less scarcity. M
@saylorMiners put capital at risk to secure Bitcoin. Their subsidy halves every 210,000 blocks, so fees must carry more of the security burden. Cripple the fee market, and you starve Bitcoin’s defenders when the network will need them most. That
@saylorThe expropriation does not end with miners. It reaches exchanges, custodians, applications, investors, and holders. It places every builder’s work and every investor’s capital at the mercy of the next faction to capture the rulebook.
@saylorOnce one faction captures consensus, every faction learns it can seize through politics what it could not earn in the market. Protocol warfare becomes permanent. Capital flees, innovation dies, security erodes, and Bitcoin is doomed to 1%
@saylorKeep Bitcoin’s base layer simple, neutral, scarce, and secure. Keep innovation at the edges, where adoption is voluntary and failure is local. Protocol changes must be rare, conservative, and driven by necessity, not ambition. Defend Bitc
@tftc21Saylor declares "Bitcoin has won. Now it must survive victory." "Its gravest threat is not an enemy at the gates, but corruption from within"
@kalshi_cryptoJUST IN: Michael Saylor says "Bitcoin has won and now it must survive victory"
@bitcoinnewsNEW: ⛏️ #Bitcoin's BIP-110 signaling sits at ~2.64% as block 961,632 approaches on or around August 9. Support has climbed from below 1% but major pools like Foundry, Antpool and ViaBTC have not moved. @jamieCrypto has the the full story
@saylorRT @jamesob: Yep, this is why we don't want to rush to add novel crypto to bitcoin on the basis of an invented threat
@cointelegraph🔥 JUST IN: Michael Saylor says Bitcoin has already won, arguing its biggest threat is now internal attempts to rewrite its consensus rules and undermine economic rights.