Satoshi's coins also frozen?...Saylor speaks out on Bitcoin (BTC) spam and quantum security debate

▲ Michael Saylor, Bitcoin (BTC)/AI generated image

The debate over Bitcoin (BTC) control has expanded to proposals for spam filters and dormant wallet freezing. As Michael Saylor emphasized "consensus among nodes, miners, and holders," the conflict between developers and miners has resurfaced.

According to crypto media outlet U.Today on July 3 (local time), MicroStrategy Chairman Michael Saylor stated his position on who decides the future of Bitcoin via X (formerly Twitter). The post gained attention after being reposted by Blockstream CEO Adam Back.

At the heart of the debate are two technical proposals. One is BIP-110, a transaction spam filter designed to block transaction spam. Some developers are reportedly pushing for this update without miner consent. The other is BIP-361, which aims to forcibly freeze old dormant wallets under the guise of quantum hacking defense. This proposal has sparked controversy as it could include Satoshi Nakamoto's address, which holds 1.1 million BTC.

Saylor is considered the world's largest corporate Bitcoin holder. MicroStrategy holds 847,363 BTC, with an estimated value of $52.6 billion. However, Saylor drew a line, stating that the size of capital does not imply sole decision-making power. He declared, "The future of Bitcoin is shaped by a dynamic consensus among nodes, miners, and holders."

Saylor defined the power held by investors as economic influence. He explained that nodes have transaction verification authority, and miners possess computational power. He emphasized, "Protocol changes prevail when verification, security, and capital are aligned." The gist is that political, legal, and institutional pressures can persuade or pressure participants, but cannot unilaterally determine consensus.

These remarks come at a time when MicroStrategy is facing controversy over $11.5 billion in unrealized losses. U.Today reported that the gap between the average purchase price of $75,646 and the Bitcoin price is the background for these losses. Saylor's message can be summarized as an assertion that even with strong external pressure, Bitcoin's long-term consensus is determined within the protocol rules and the choices of key participants.

[Article Key Summary]

-Michael Saylor stated that the future of Bitcoin is determined by consensus among nodes, miners, and holders.

-The BIP-110 spam filter and BIP-361 dormant wallet freezing proposals are escalating the debate over Bitcoin control.

-MicroStrategy holds 847,363 BTC, but Saylor drew a line, stating that the size of capital does not imply sole decision-making power.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*