Perspective: The Failure of BIP-110 Viewed as a Bullish Signal for Bitcoin, Network Consensus Mechanism and Governance Resilience Once Again Proven

Odaily Planet Daily News David Bailey, Chairman and CEO of Nasdaq-listed Bitcoin treasury company Nakamoto, stated that the so-called long-term controversy and "governance layer conflict attempt" related to BIP-110 ultimately failed, which he considers "extremely bullish" for Bitcoin and further reinforces the stability of its network consensus.

David Bailey stated that this event is seen as a complex multi-year information warfare process, involving factors such as mining pool competition, alternative clients, UASF mobilization, disputes over node consensus manipulation, and widespread public opinion confrontation on social media. Even in an environment of highly complex information dissemination and community mobilization, the relevant faction still failed to gain significant hashrate support, accounting for "less than 1%," indicating that miners and economic participants generally continue to follow the mainstream social consensus. This outcome validates a core characteristic of Bitcoin's governance structure: network consensus is jointly formed by users, miners, developers, and industry participants, rather than being dominated by a single group. He also noted that historical cases have shown miners find it difficult to deviate from social consensus, and this event further reinforces that conclusion.

However, he also emphasized that this incident exposed the fragility of coordination in information dissemination among Bitcoin core developers. The current over-reliance on public social media platforms for communication makes them more susceptible to information manipulation and content amplification, thereby significantly increasing community coordination costs. This controversy consumed a considerable amount of community time and attention resources, and he believes the industry should participate more actively in the Bitcoin Improvement Proposal (BIP) governance process in the future to enhance collaboration efficiency and reduce wasteful internal friction.

In summary, David Bailey stated that Bitcoin demonstrated strong resistance to fragmentation during this event, emphasizing that "technological rationality and economic consensus will ultimately continue to dominate the direction of network development."