Blockstream co-founder Adam Back said he understands the concerns of people backing BIP 110 in the Bitcoin community, saying they dislike spam transactions and want to protect the network. Still, he argued the proposal is, in essence, an attempt to monitor other users and would erode Bitcoin’s decentralization, security, and neutrality, putting it at odds with the core spirit of the network.
Michael Saylor reposted Back’s remarks and said there are “110 things more dangerous than spam” for Bitcoin. He argued that BIP 110 would turn a dispute over spam into a consensus change, making some transactions that are currently valid and fee-paid become invalid. In his view, the greater risk is the precedent such a move would set, and attention should stay on what he described as more important threats.
Earlier, Nakamoto Chairman and Bitcoin Magazine Chairman David Bailey said the failure of the long-running “BIP-110” dispute was “extremely bullish” for Bitcoin in outcome terms, adding that it showed the network’s resistance to attacks and splits.
Blockstream co-founder Adam Back commented on the Bitcoin community’s dispute over BIP 110, saying he understands and sympathizes with the concerns of its supporters. In his description, they dislike spam transactions and want to protect the network.
Back said the proposal is essentially an attempt to “monitor other people,” and argued that it would erode Bitcoin’s decentralization, security, and neutrality. He said that puts it in direct conflict with Bitcoin’s core spirit.
Saylor says the precedent is the real risk
Michael Saylor reposted the comments and wrote, “There are 110 things more dangerous to Bitcoin than spam. BIP 110 turns the spam dispute into a consensus change and would make some transactions that are currently valid and have paid fees invalid. That precedent is the real danger, and effort should be focused on the threats that actually matter.”
David Bailey had called the outcome “extremely bullish”
Earlier, Nakamoto Chairman and Bitcoin Magazine Chairman David Bailey said the failure of the long-running “BIP-110” controversy was “extremely bullish” for Bitcoin in terms of the outcome. He also said it further demonstrated the network’s ability to resist attacks and avoid splits.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
