Bip110 intended for community yet Bitcoin holdings decline, Tone Vays notes

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Jose Antonio Gastelum

24.07.2026

Bip110 intended for community yet Bitcoin holdings decline, Tone Vays notes — Bip110 intent questioned amid Bitcoin sales

Tone Vays, bitcoin analyst, derivatives trader & event producer, is questioning the intent and impact of #Bip110. Vays points out that proponents promoting the protocol as being "for the Plebs by the Plebs" are not actually buying Bitcoin, but instead appear to be selling their holdings.

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Vays has previously drawn a line between Bitcoin and other digital assets, noting that SPX market participants view Bitcoin as distinct from cryptocurrencies. He has also stated that Bitcoin miners typically reject proof-of-work changes without broad consensus. These past comments show his longstanding position on network governance and market perception.

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