A Fork in the Road
Vinny Lingham
24149

Although I disagree with your view on alts, this is a well written article where you make many good points. The problem, however, is you haven’t provided a solution. Not that you could because if there is a fork attempt it will come from the BTU side, who control the Bitcoin domain, who have a large amount of money to spend, and who have clearly placed a mark in the road which says no to SegWit. Willing them on not to hard fork & support SegWit is falling on deaf ears because they feel they have everything to gain (even if, in reality, they may shoot themselves in the foot).

This has been allowed to happen due to actions on places like Reddit and poorly thought out statements from a number of bitcoin’s better known developers. Everyone has painted themselves into a corner and it needs someone (you?) to get the key players in a room instead of attacking each other on twitter, reddit, or criticising (rather than critiquing and listening to critique) code.

All this has been allowed to happen by the reticence to deal with scaling 3–4 years ago. A can kick would have been the right thing to do. Whilst not an elegant solution, it would have prevented the community splitting — at least for a much longer period. By refusing to even do this, the community ended up pitted against each other. Understanding that bitcoin is different things to different communities is something developers have been blinkered to, believing that technology provides absolute answers. It does not now and nor will it ever.

Bitcoin is going to fail unless we can agree where we’re going. If we can’t agree that, Bitcoin either stalls (which may still work as a store of value) or it splits (with unknown consequences). That said, I do believe there are lessons from Ethereum and I do believe Bitcoin could get over it (not would). It would take time though, or it may allow Ethereum (and/or others) to grab a long term foothold beyond traders and developers.

Also consider that Roger Ver has a big financial interest in at least one Bitcoin succeeding. I’m not sure he’s quite prepared to kill everything, although given sufficient interest in alts perhaps that’s asking too much.

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