Bitcoin BIP-444 Soft Fork Faces Backlash as F2Pool Opposes
Bitcoin BIP-444 is a proposed temporary soft fork by developer Dathon Ohm to reinstate strict on-chain data caps. It limits OP_RETURN and other arbitrary data to 83 bytes for roughly 1.27 years and warns of “legal or moral consequences” or even a network split if rejected. Proponents, including Luke Dashjr, argue the change is vital to curb blockchain spam, prevent illicit content, lower node costs and protect operators from legal risk. Critics, led by F2Pool co-founder Chun Wang, label it a “bad idea” that could stifle smart contracts, freeze innovation and threaten network stability. Historical miner behavior shows major pools still processing larger OP_RETURN outputs since January 2024, and developer Peter Todd demonstrated the fork’s text can be embedded at higher fees, raising enforcement doubts. As consensus debates intensify, traders should monitor miner support, potential fork risk, network fees and governance shifts.
Bearish
The controversy over Bitcoin BIP-444 introduces uncertainty and potential network risks that may weigh on BTC’s short-term price. F2Pool’s outright opposition, enforcement challenges with OP_RETURN caps, and warnings of legal or moral consequences heighten volatility and reduce confidence. Although the soft fork is pitched as a temporary spam solution, the debate over data limits, smart-contract restrictions and possible chain splits could dampen buying interest. In the long term, network governance clarity and miner consensus could stabilize sentiment, but immediate market reaction is likely cautious to bearish.