Adam Back, as the inventor of Hashcash and a cypherpunk pioneer, has long upheld the principle of Bitcoin's decentralization, and this statement continues his opposition to any potential introduction of censorship or coercive policies; Michael Saylor emphasizes protocol stability from the perspective of MicroStrategy as the largest holder of Bitcoin.

In terms of capital pathways, institutions and large holders publicly voice their support for Bitcoin's core attributes to avoid uncertainties caused by consensus changes, protecting the value of existing Bitcoin reserves and the immutability of the network.

Similar to historical disputes like the Block Size Wars, which ultimately ended in a conservative victory, the current failure of BIP 110 again proves the effectiveness of Bitcoin's "extremely difficult to change" mechanism, which is in the stage of validating its resistance to forks during its maturation.

Essentially, this relates to regulatory changes and capital concentration: the BIP 110 controversy highlights the failure of attempting to impose policies through soft forks, as the mechanism of Bitcoin's decentralized consensus makes any changes that could introduce censorship difficult to pass, thereby reinforcing Bitcoin's pricing power and institutional appeal as an uncensorable hard currency.

ABAB News · Law of Cognition

To solve spam, do not destroy decentralization first; otherwise, after spam comes censorship.
The precedent of denying paid transactions is more deadly than any spam.
Bitcoin's strongest defense is not the code, but the consensus culture that refuses to change.