Bitcoin bulls Michael Saylor, Adam Back slam BIP-110 Ordinals proposal
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- Michael Saylor and Adam Back publicly criticized BIP-110, framing it as a threat to Bitcoin’s decentralization and cypherpunk ethos of permissionless, censorship-resistant money
- BIP-110, introduced by pseudonymous developer Dathon Ohm and supported by Luke Dashjr, requires 55% node validation across a block period to activate but gained support in only 1% of blocks during period 475
- Luke Dashjr and BIP-110 proponents argue Ordinals-driven blockchain bloat poses a serious threat, necessitating a temporary one-year limit to preserve network functionality
- Adam Back described BIP-110 as a 'quest to police other people,' emphasizing that Bitcoin’s design should prevent imposition of views on others, even in response to congestion concerns
- Ordinals activity has declined sharply, with fewer than 10,000 daily inscriptions over the past month compared to over 400,000 at its peak in August 2023, reducing immediate pressure on block space
Why it matters: With only 1% of blocks signaling support, BIP-110 faces steep adoption hurdles, and the vocal opposition from influential figures like Saylor and Back could deter miner and node operator consensus. The debate centers on whether short-term network strain justifies a governance mechanism that risks centralizing control.
