According to ChainCatcher, Michael Saylor, founder of Strategy, said in a post that Bitcoin is operating exactly as designed around the BIP-110 fork. He argued that BIP-110 is free to fork and that Bitcoin's network is equally free to ignore it. According to the figures Saylor shared, roughly 99.85% of Bitcoin's hashrate stayed on the original chain. The BIP-110 branch has managed to mine only two blocks so far and currently trails the original network by more than 80 blocks. Saylor also noted that the fork drew only about 0.15% of Bitcoin's hashrate. Before the first difficulty adjustment, the branch still needs to mine another 2,015 blocks. At the current block speed, he estimated, that process would take about 25 years. He added that a fork without security, utility, capital and users means nothing. Anyone can fork Bitcoin, he said, but consensus has to be earned, not declared.
Michael Saylor, founder of Strategy, said in a post that Bitcoin is operating exactly as designed around the BIP-110 fork. He wrote that BIP-110 is free to fork and that the Bitcoin network is equally free to ignore it.
Roughly 99.85% of Bitcoin's hashrate remains on the original network. The BIP-110 branch has mined just two blocks and now trails by more than 80 blocks. Saylor noted that the fork has only about 0.15% of Bitcoin's hashrate. Before the first difficulty adjustment, the branch would need to mine another 2,015 blocks. At current block production speed, he said, that would take roughly 25 years.
“Anyone can fork Bitcoin, but without security, utility, capital, and users, the fork is meaningless. Consensus has to be earned, not declared,” Saylor wrote.
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