Michael Saylor defined that it’s mathematically unattainable for BIP-110 to succeed in the 55% volunteer assist threshold within the present Bitcoin mining issue cycle.
In response to information shared by Saylor, a complete of 946 blocks had been generated as much as block quantity 960,561 through the present issue adjustment interval. Solely 24 of those blocks had the BIP-110 assist sign added to the model subject within the block header.
Saylor acknowledged that all the blocks sending alerts had been produced by DATUM miners who share their rewards by means of the OCEAN mining pool, and that no assist alerts got here from miners exterior of OCEAN.
Saylor acknowledged that as a consequence of this case, BIP-110 wouldn’t attain the 55% voluntary assist stage within the cycle in query, arguing that the present alerts couldn’t be thought-about a broad miner consensus.
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What’s BIP-110, and Why Does Saylor Oppose It?
BIP-110 is a proposal that goals to make it harder so as to add pictures, textual content, or different varieties of giant information to the Bitcoin community apart from cash transfers. Merely put, its supporters say, “Bitcoin ought to solely be used for sending cash; pointless information shouldn’t muddle the community.” Michael Saylor opposes this.
As a result of, in response to him, the Bitcoin community shouldn’t resolve which transactions are needed and that are pointless, and the principles shouldn’t be modified on the whim of some individuals. Saylor additionally argues that the excessive assist charges seen don’t replicate actual miner assist, however somewhat that the numbers seem increased than they’re as a result of some software program has automated the signaling course of.
*This isn’t funding recommendation.
