Nakamoto Chairman: “BIP-110 failure” constitutes extremely positive news for Bitcoin, governance structure once again validated.

Golden Finance reported that on July 4, David Bailey, Chairman of Bitcoin Treasury Company Nakamoto and Chairman of Bitcoin Magazine, stated that the so-called "BIP-110" long-term controversy event ultimately failed, which is "extremely bullish" for Bitcoin in terms of results, and he believes this further validates the network's ability to resist attacks and splits.

David Bailey stated that this event is seen as a multi-year "governance layer conflict attempt," involving multiple factors such as mining pool competition, client fork proposals, UASF (User-Activated Soft Fork) mobilization, node consensus manipulation controversies, and large-scale information warfare campaigns centered around social media and the developer community. Even in a highly complex coordination and dissemination environment, the relevant factions still failed to gain significant hashrate support, accounting for "even less than 1%," indicating that miners and economic participants did not deviate from mainstream social consensus.

David Bailey stated that this process validated the core characteristics 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. At the same time, he emphasized that similar events in history (such as BIP148) have already proven that miners struggle to break away from social consensus, and this event further reinforces that conclusion. However, he also pointed out that this event exposed vulnerabilities in information coordination at the core development collaboration layer of Bitcoin, which currently relies too heavily on social media and public communication mechanisms, making it susceptible to information manipulation and the "amplification effect of AI-generated content," thereby significantly increasing community collaboration costs.

David Bailey also mentioned that this controversy consumed a great deal of the community's time and attention resources, and called for greater industry participation in the Bitcoin Improvement Proposal (BIP) governance process to avoid getting stuck in inefficient debates. The Bitcoin network demonstrated strong resistance to splitting in this event, emphasizing that "technological rationality will ultimately prevail."