Michael Saylor urges Bitcoin to reject BIP-110 ahead of August signaling test
Foundry USA, which Hashrate Index says has about 23.8% of Bitcoin hashpower, is asking mining customers to vote on whether the pool should signal for the proposal before block 961,632 in early August.
Michael Saylor has intensified opposition to Bitcoin Improvement Proposal 110, a proposed one-year soft fork that would impose seven restrictions on data-heavy or non-financial transactions, while Foundry USA has asked its mining customers to vote on how the pool should signal before the early-August deadline at block 961,632. Saylor argues Bitcoin should remain neutral toward valid, fee-paying transactions and that rule changes should address only demonstrated denial-of-service or validation risks. Supporters say the proposal would curb data-heavy uses such as Ordinals inscriptions, which they argue distort fees and burden node operators. Public monitoring has shown signaling far below the 55% needed for early lock-in, and critics including Saylor and Adam Back warn the measure could invalidate ordinary transactions, freeze user funds, or create a minority chain that may stall.
- BIP-110: A proposed Bitcoin soft fork that would temporarily restrict certain data-heavy or non-financial transactions for one year.
- soft fork: A backward-compatible blockchain rule change adopted by upgraded nodes.
- Ordinals: A method of attaching data such as inscriptions to Bitcoin transactions, central to debates over non-monetary use of the network.