On August 9, Strategy founder Michael Saylor said Bitcoin is operating exactly as designed. The BIP-110 fork attracted only about 0.15% of Bitcoin's hash rate, mined just 2 blocks, and now trails the main network by more than 80 blocks. At the current block production rate, the fork would need roughly 25 years to mine the 2,015 blocks before the first difficulty adjustment. Saylor stressed that consensus must be earned, not declared.
BlockBeats reported on August 9 that Michael Saylor, founder of Strategy, said Bitcoin is operating exactly as designed. BIP-110 is free to fork, and the Bitcoin network is free not to follow. As a result, about 99.85% of Bitcoin's hash rate remains on the original network, while the BIP-110 branch has mined only 2 blocks and now lags by more than 80 blocks.
Saylor noted that BIP-110 has secured only about 0.15% of Bitcoin's hash rate. Before the first difficulty adjustment, it still needs to mine 2,015 blocks. Based on the current block production speed, this process would take roughly 25 years.
“Anyone can fork Bitcoin, but without security, utility, capital and users, the fork is meaningless. Consensus needs to be earned, not declared,” Saylor said.
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