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David Bailey: "BIP-110 Failure" Strengthens Bitcoin Resilience, Consensus Mechanism Withstands Stress Test
Shenchao TechFlow news, on July 4th, David Bailey, Chairman and CEO of Nasdaq-listed Bitcoin treasury company Nakamoto, stated that the failure of the so-called "BIP-110" long-term dispute event is "extremely bullish" for Bitcoin in terms of its outcome, and he believes this further validates the network's resilience against attacks and splits. The event is seen as a multi-year "governance conflict attempt," involving multiple battles such as mining pool competition, client fork proposals, UASF (User Activated Soft Fork) mobilization, node consensus manipulation disputes, and large-scale information warfare around social media and developer communities.
David Bailey stated that this process validates a core characteristic of Bitcoin's governance structure: final consensus is formed jointly by users, miners, developers, and industry participants, rather than being dominated by a single group. Historical similar events (such as BIP148) have already proven that miners struggle to break away from consensus, and this event further strengthens that conclusion. The Bitcoin network has demonstrated strong resistance to splits during this event.