13 July 2026

BIP-110’s supporters are right that Ordinals, inscriptions, and arbitrary data are poor uses of Bitcoin block space. But turning that objection into a consensus rule creates a much larger problem: deciding which fee-paying transactions Bitcoin users should be permitted to make.

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Bitcoin news and bitcoin regulation update. Today I cover Michael Saylor and Adam Back pushing back against BIP-110 as miner support sits near zero, Strategy raising its cash reserve without buying bitcoin, and new stablecoin scrutiny across Thailand and China. I also look at SBI’s new yen stablecoin lending product and the risks hiding behind its advertised 3% yield.Topics for today:Saylor and Back Reject BIP-110BIP-110 Miner Support Nears ZeroStrategy Builds $3 Billion ReserveThailand Expands USDT SurveillanceChina Targets Mixers and Privacy CoinsSBI Launches Yen Stablecoin LendingCircle P Vendor of the Day: Oshi Artisan pecan butter, date bars and chocolates Website: https://www.oshigood.us/shop nostr Profile: https://primal.net/p/nprofile1qqswp94gnm4epqsgjkndl4lnd8krzdj5u4mzuppdtxksdymkty63g7gdurlfcToday’s Articles covering bitcoin news, bitcoin regulation, and financial news:https://cointelegraph.com/news/bitcoin-leaders-michael-saylor-and-adam-back-rebuff-bip-110-proposalhttps://www.coindesk.com/tech/2026/07/12/bitcoin-s-bip-110-fork-deadline-nears-with-miner-support-at-zerohttps://www.theblock.co/post/408004/strategy-sells-467-million-in-mstr-shares-makes-no-bitcoin-purchases-as-usd-reserve-hits-3-billionhttps://cointelegraph.com/news/thailand-targets-stablecoins-in-latest-laundering-crackdownhttps://decrypt.co/373374/chinese-prosecutors-float-treating-crypto-mixer-privacy-coin-use-as-sign-of-money-launderinghttps://cointelegraph.com/news/sbi-stablecoin-lending-service-3-yield-japan Get Your Free Comfrey Owner’s Manual Here:https://www.bitcoinandshow.com/the-comfrey-owners-manual-is-here/Help a Brother Out With 5 Star Reviews:Apple Podcasts: https://podcasts.apple.com/us/podcast/bitcoin-and-bitcoin-economic-news/id1438789088Spotify Podcasts: https://open.spotify.com/show/1dsTluNHIPNsXVRghpqxhYAmazon Music: https://music.amazon.com/podcasts/9ef7d5b6-9137-439d-94eb-8071ec6bf890/bitcoin-and-bitcoin-economic-newsYouTube Music: https://music.youtube.com/playlist?list=PLWaKxaQF5Q5WiTq80SBYs_7iLDtleV0rZFind the Bitcoin And Podcast on every podcast app here:https://episodes.fm/1438789088Find me on nostrnpub1vwymuey3u7mf860ndrkw3r7dz30s0srg6tqmhtjzg7umtm6rn5eq2qzugd (npub)6389be6491e7b693e9f368ece88fcd145f07c068d2c1bbae4247b9b5ef439d32 (Hex)Twitter:https://twitter.com/DavidB84567StackerNews:stacker.news/NunyaBidnessPodcasting 2.0:fountain.fm/show/eK5XaSb3UaLRavU3lYrIApple Podcasts:tinyurl.com/unm35bjh Mastodon:https://noauthority.social/@NunyaBidnessSupport Bitcoin And . . . on Patreon: patreon.com/BitcoinAndPodcastFind Lightning Network Channel partners here:https://t.me/+bj-7w_ePsANlOGEx (Nodestrich)https://t.me/plebnet (Plebnet)Music by:Flutey Funk Kevin MacLeod (incompetech.com)Licensed under Creative Commons: By Attribution 3.0 Licensecreativecommons.org/licenses/by/3.0/

I do not like Ordinals. I do not like inscriptions. I think stuffing arbitrary images, token metadata, and other junk into Bitcoin transactions is stupid, unproductive, and a waste of block space. So BIP-110 begins with a complaint I can understand. The problem is that it takes a legitimate irritation and proposes a cure that is worse than the disease.

BIP-110 would temporarily impose consensus-level restrictions on several methods used to place arbitrary data inside Bitcoin transactions. Its stated purpose is to refocus Bitcoin on being permissionless money rather than a general-purpose data-storage system. The restrictions are intended to last about one year, and the proposal’s authors say known monetary uses would remain unaffected.

But Bitcoin being permissionless means something even when people use it in ways I dislike. You cannot claim Bitcoin is censorship-resistant and then begin writing consensus rules that determine which properly constructed, fee-paying transactions are morally acceptable. A miner can refuse a transaction. A node operator can run whatever software he wants. But trying to make one faction’s transaction policy binding on the wider network is a very different proposition.

That is where BIP-110 stops being an argument about spam and becomes an argument about control. Supporters see inscriptions as an abuse of block space. Critics see the proposal as an attempt to police other people’s transactions. Adam Back has made that objection directly, while Michael Saylor has argued that the proposed intervention may be more dangerous to Bitcoin than the spam it is supposed to stop.

The word “temporary” bugs me. What exactly is a temporary consensus restriction supposed to accomplish? After one year, do the old rules return and inscriptions resume? Does the restriction get extended? Does another political fight begin over what remains prohibited? Calling the fork temporary does not answer the underlying question. It merely delays the next argument while establishing the precedent that Bitcoin’s transaction rules can be tightened to suppress an unpopular use.

The current support numbers do not suggest that the network is eager to take that step. Miner signaling has remained below one percent and recently stood at zero, far short of the proposal’s 55 percent threshold. Nodes enforcing the rules without broad miner participation would not clean up Bitcoin for everyone. They would risk separating themselves onto a minority chain.

That does not mean the proposal can be ignored. Bitcoin’s block-size war taught us how quickly a technical disagreement can become a political campaign filled with deadlines, declarations, pressure, and fear. People who lived through that fight should know better than to manufacture another consensus confrontation without overwhelming support. BIP-110 may be aimed at transactions I consider ridiculous, but Bitcoin’s refusal to ask permission is more important than my opinion about how somebody else uses block space. That is the larger principle, and it is the one BIP-110 gets wrong.


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  1. Bitcoin BIP-110
  2. BIP-110 soft fork
  3. Bitcoin Ordinals debate
  4. Bitcoin transaction censorship
  5. BIP-110 miner support