Author: Ken Friece 2015-08-15 23:57:31
Published on: 2015-08-15T23:57:31+00:00
The concept of conflict of interest is discussed in the context and its relevance to the bitcoin blocksize debate. A conflict of interest occurs when an individual or organization has multiple interests that could corrupt their motivation. Though it does not necessarily imply wrongdoing, it is important to consider the possibility of such conflicts in serious issues like the bitcoin blocksize.Blockstream's Lightning Network effort is structured to avoid any conflict of interest, with all code related to lightning available on Github and no privileged entity. However, some individuals accuse Blockstream of having a conflict of interest in limiting the blocksize to create artificial demand for lightning. They argue that this situation gives Blockstream an advantage since early adopters would be in the best position to capitalize on lightning.Opponents of a reasonable blocksize increase point out that some of the most vocal opponents work for Blockstream, which stands to profit directly from artificially limiting the blocksize. Critics believe that these individuals should either resign from Blockstream or withdraw from the blocksize debate. The longer the debate continues, the more people agree with BIP 100 and Jeff Garzik because core developers are already being influenced by outside forces and should not have complete control of the blocksize.Some miners are voting for 8MB blocks BIP100 style, but they need to realize that they are in direct competition with the Lightning Network and sidechains for fees. Mike Hearn released Bitcoin XT 0.11A, which includes the bigger blocks patch set, as he believes that the Bitcoin Core project has drifted too far from its principles, and a fork is the only way to fix things. However, some developers disagree and believe that the risk of permanent ledger forks far outweighs whatever benefits protocol changes might bring.The context is a series of email threads from the bitcoin-dev mailing list hosted by the Linux Foundation. The list provides a platform for developers to discuss and share ideas related to the development of the Bitcoin network. The emails contain links to the mailing list's subscription page, and the messages are repetitive in nature, with multiple instances of the same message being sent in each email thread.
Updated on: 2023-06-10T19:41:03.195570+00:00