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Author Topic: [2016-05-06] Reuters: Bitcoin has a governance problem, no matter who created it  (Read 335 times)
pawel7777
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May 06, 2016, 09:43:15 PM
 #1


Bitcoin has a governance problem, no matter who created it

http://uk.reuters.com/article/uk-bitcoin-governance-idUKKCN0XX1WH

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As one would-be father of bitcoin falls by the wayside, squabbling among the web-based currency's lead developers is exposing a fundamental flaw: it must evolve to meet growing demand, but may lack a governance structure to achieve this.

The latest bickering erupted after Australian entrepreneur Craig Wright promised to prove he was the mysterious creator of bitcoin - which allows users to move money across the world quickly and anonymously - but then said on Thursday he could not provide further evidence to back this up.

Wright stopped short of reneging on his claim to be Satoshi Nakamoto, assumed to be a pseudonym for the person or people who launched the digital cryptocurrency in 2009. However, he apologised for damaging the reputations of bitcoin experts who had believed him.

Many members of the bitcoin community reckon this is all a distraction and agree with Wright when he said that the identity of Nakamoto "doesn't, and shouldn't, matter".
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May 06, 2016, 10:01:37 PM
 #2

I think Satoshi remaining a mystery is actually good news for Bitcoin, the whole decentralization project is better this way, plus it adds some novelty to it. Having a guy that can be judged and morally investigated is not something that would benefit BTC.

On the other hand, I think it will always remain in the shadows, its bad image continues, this may seem like something innocent but it's not, no serious company can really align with Bitcoin and all its baggage that's the sad truth.
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May 07, 2016, 07:05:09 PM
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The Bitcoin protocol has been designed to govern itself. So even if the real Satoshi were to show up, there isn't much administrative work left to do, maybe he will correct the 21M btc limit though...

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May 07, 2016, 07:18:29 PM
 #4

Press is failing to understand btc again and again , it governs it self , and that concept is not yet understood.
but that will come because bitcoin does not give a F*ck if the press understands  it.


 
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