Author: Satoshi Nakamoto 2015-08-15 17:43:54
Published on: 2015-08-15T17:43:54+00:00
The recent block size debates through the mailing list have led to the formal release of Bitcoin XT 0.11A. The developer's claim to be following Satoshi Nakamoto's original vision, but he disagrees as he designed Bitcoin in such a way that modifications to consensus rules would be difficult without near unanimous agreement. This fork is violating the "original vision" they claimed to honour. Satoshi acknowledges that a lot has changed since he designed Bitcoin, and new knowledge has been gained that contradicts some of his early opinions. He didn't anticipate pooled mining and its effect on network security. Making Bitcoin a competitive monetary system while preserving its security properties is not an easy problem, and we should take more time to come up with a robust solution. Satoshi warns that if two developers can succeed in redefining what "Bitcoin" is, in the face of widespread technical criticism and through populist tactics, then he will have no choice but to declare Bitcoin a failed project. Bitcoin was meant to be both technically and socially robust, and this present situation has been disappointing to watch unfold.
Updated on: 2023-06-10T19:52:44.321435+00:00