Bitcoin’s real power is that anyone willing to pay fees can write to the ledger. BIP-110’s backers want to change that for data-heavy transactions. The backlash reveals what’s truly at stake.

The BIP 110 proposal would cap arbitrary data on Bitcoin for a year, but Saylor, Adam Back and others say turning a spam dispute into a consensus fight could create a bigger risk…

BIP-110 sought to limit non-financial data on Bitcoin's blockchain but instead reignited debates over censorship and decentralization.