Michael Saylor, co-founder of Strategy, published an analytical statement in which he identified internal factions trying to modify the consensus rules as the main threat to the bitcoin network. According to him, the current consensus rules function as the economic constitution of an asset, defining ownership rights, scarcity, and resource allocation mechanisms. Any attempts to rewrite these fundamental principles in the interests of individual groups are seen as a direct encroachment on the economic rights of all ecosystem participants and a risk to the long-term sustainability of the project.

In his address, Saylor criticized a number of technical initiatives, including the BIP-110 proposal, the introduction of covenant mechanisms, and the increase in block size. He argued that such changes could lead to censorship of transactions, complicate consensus rules, and reduce the scarcity of block space. Special attention was paid to the commission market: since the remuneration of miners for creating blocks is regularly reduced, it is the commissions that must ensure the long-term security of the network. According to the expert, the destruction of this market mechanism will deprive validators of the necessary resources at a critical moment, which is equivalent to undermining the security of the entire infrastructure.

Summing up, Saylor expressed confidence that bitcoin has the potential for a hundredfold increase in capitalization and is able to become the foundation of the global capital market. However, the implementation of this scenario requires keeping the basic network layer as simple, neutral, and secure as possible. The expert called for transferring experimental innovations to peripheral levels of the ecosystem, where their implementation is voluntary, and the consequences of possible failures remain localized. Changes to the underlying protocol should be rare, carefully considered, and dictated by objective necessity rather than the ambitions of individual developers.

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The material has been prepared solely for informational purposes and does not constitute financial advice or recommendation.