The bitcoin block size debate is the classic example for the term “ running around in circles ”. Those of us who have been following thins know very well that the debate about increasing the block size has been going on for almost a year now and yet we do not have any results to show for it. There have been proposals to solve the issue, most of which were never accepted. This prolonged disagreement in spite of holding several talks, round table conferences etc. shows signs of a much deeper problem with the whole setup.
The CEO and founder of Coinbase , Brian Armstrong offers an insight into the dynamics of the Bitcoin community as observed by him during the recent Satoshi Roundtable Conference . According to him, there is a great divide between all the primary stakeholders of the Bitcoin community and they do not see eye to eye with each other.
The main issue here seems to be the very people who have been working on the bitcoin protocol, followed by the growth-hungry bitcoin companies and the miners caught in between wondering whose side to pick. Brian Armstrong, in his blog post , mentions that the Bitcoin Core developers are the ones who are currently hampering the block size increase and bitcoin scalability.
Mike Hearn had recently created a controversy by calling bitcoin a failed experiment and the Bitcoin community is not working the way they were supposed to work. He predicted the whole Bitcoin Network to collapse in the coming days if it continues. Comparing his notes with that of Brian Armstrong’s it is impossible to ignore the role of core development team in the dysfunctional community relationship. A handful of people are holding the whole bitcoin at ransom because they are not interested in working on […]
