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Michael Saylor slams BIP-110: ‘Nobody controls Bitcoin, the network has spoken’
['Ishika Kumari', 'Written By', 'Reviewed By', 'Muriuki Lazaro', 'Kelvin Murithi', 'Akashnath S', 'Benjamin Njiri', 'Gladys Makena']
AMBCrypto
In the ongoing debate over BIP-110, Michael Saylor recently claimed that although BIP-110 was permitted to challenge Bitcoin [BTC], it was widely rejected by the larger Bitcoin community.
In this case, the expected support was not fulfilled as Saylor claimed,ADAbout 99.85% of Bitcoin’s hashpower stayed with Bitcoin.
During this time, the BIP-110 branch only generated two blocks and, after reaching 961,632, fell more than 80 blocks behind.
Consensus emerges from the network, and the network has spoken.
Bitcoin’s valuation in relation to network activityThis comes as the NVM Ratio stayed high at press time, hovering around 4.378, indicating strong network activity in relation to valuation.