Saylor: Bitcoin's Biggest Challenge Comes from Internal Rule Erosion
Michael Saylor, founder of Strategy, stated that Bitcoin has gained market recognition, but its biggest challenge comes from the erosion of consensus rules internally. He likened consensus rules to a constitution that determines property rights and scarcity, specifically naming proposals like BIP-110 that undermine protocol neutrality and weaken the fee market. Saylor called for maintaining a simple, neutral, scarce, and secure base layer, leaving innovation to the second layer, and urged extreme caution in protocol upgrades.
Source: Public Information
ABAB AI Insight
Michael Saylor's Strategy has long focused on large-scale Bitcoin holdings as its core strategy, having publicly opposed protocol changes multiple times, including a July 2026 article criticizing BIP-110, emphasizing that it would set a precedent for reviewing valid paid transactions. The capital path is to protect the long-term value and scarcity narrative of its substantial Bitcoin assets by defending existing rules, avoiding capital outflow and decreased network security due to governance conflicts, while guiding innovation to the second layer to maintain base layer stability. This is analogous to the 2017 Bitcoin scaling war and block size disputes, as well as governance divergence after multiple Ethereum hard forks, indicating a critical phase of shifting from external competition to internal consensus maintenance. Essentially, this is about capital concentration: once rules can be modified by specific interest groups, protocol governance will shift from technical neutrality to political struggle, leading to a migration of long-term value to more stable assets. ABAB News · Law of Cognition
- Rules are harder to change than code.
- Internal erosion is more fatal than external attacks.
- Simplicity is the ultimate moat of the protocol.