Bitcoin is the new Bitcoin, Blockstream co-founder says

By February 10, 2019Bitcoin Business
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Bitcoin is the new Bitcoin, Blockstream co-founder says

Bitcoin maximalist and Blockstream co-founder, Matt Corallo believes that Bitcoin will be the only one, as how it was in the first place.

Speaking in a Coinscrum conference in London, Matt Corallo, the co-founder of Blockstream, expressed his excitement over the increase in diversity of the Bitcoin network.

He defended his maximalist stance towards the oldest cryptocurrency by saying, “We’ve got more experience in Bitcoin setting precedent about how things get changed. We’re more cautious. As a developer, I can’t unilaterally change the rules. I think that gives it legs over other coins.”

Although he admitted for being a fan of privacy coins, like Monero and Mimblewimble, he expressed his concern that one day all Bitcoin wallets would be “thrown away”, something that’s likely caused by what he referred as “other coins”.

“My biggest concern was we were going to wake up one day, there was going to be a remote execution of the wallet and everyone’s Bitcoin key was going to be on a Pastebin (anonymous text published online),” he said.

Corallo went on by commenting the “blooming” of the Lightning Network, “Everyone’s super excited about Lightning, even in this bear market. Obviously, it’s still early—there’s still a lot of user experience challenges.”

He believes that the LN will grow big in the future, particularly when engineers are finally able to solve the technical issues, although, he still thinks that it won’t reach everyone in the planet.

“You’re not going to have a billion lightning nodes. That’s not realistic. There is a limit and Lightning isn’t going to reach every human on the planet, at least not in custodial form,” he said as quoted by Decrypt.

Regardless of the existing issues and current state of development, Corallo, who earned the nickname “the bastard child of Satoshi” in the conference keeps his maximalist view of the largest cryptocurrency, while also trying to “convince” everyone to pick the same stance as his at the same time.

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Speaking in a Coinscrum conference in […]

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