TechFlow news, July 4, David Bailey, Chairman and CEO of Nasdaq-listed Bitcoin treasury company Nakamoto, stated that the failure of the so-called "BIP-110" long-term controversy event constitutes "extremely bullish" for Bitcoin in terms of outcome, and believes this further validates the network's resistance to attacks and splits. The event is regarded as a "governance layer conflict attempt" lasting several years, involving multiple games such as mining pool competition, client fork proposals, UASF (User Activated Soft Fork) mobilization, node consensus manipulation controversies, and large-scale information warfare surrounding social media and the developer community.
David Bailey stated that this process validates the core characteristics of Bitcoin's governance structure: final consensus is formed jointly by users, miners, developers, and industry participants, rather than dominated by a single group. Historical similar events (such as BIP148) have proven that miners find it difficult to deviate from consensus, and this event further reinforces this conclusion. The Bitcoin network demonstrated resilient resistance to splits during this event.
