Prominent Bitcoin Enthusiasts And Developers Debate About Governance In The Space


Bitcoin (BTC) has usually been attacked by different individuals and experts all around the world for different issues. On Twitter, one of the most active social networks for crypto discussion, a crypto expert talked about how Bitcoin is facing issues with its “poor” or “broken” governance.

Is Bitcoin Properly Governed?

Nic Carter, a partner at the Venture Capital (VC) firm Castel island Ventures, shared an old Reuters article in which they explain that Bitcoin had a governance problem and no matter who created it.

Carter explained that he remembers when the discussion about Bitcoin’s governance was a popular refrain and a justification to promote different alternatives. About it, he said that all the projects that have been launched after it experienced similar situations with their governance issues. At the same time, he stated that being hard to change is good.

In general, Bitcoin’s governance system takes a long time to implement solutions to different problems and it is not easy for the community to find a consensus altogether. Ultimately, experts considered that these things were going to harm the network.

Adam Black, the Chief Executive Officer of Blockstream, commented that Bitcoin does not have governance and that if it had governance, the digital asset would not be Bitcoin. As he clarified, governance means discretionary permission by a group of humans.

However, Adam Black was not the only individual answering this comment. Indeed, Tuur Demeester, the Founding Partner at Adamant Capital, and Jameson Lopp, the creator of Satoshi.info, commented about it as well. Demeester has shared an article that links to a medium post that was written by Lopp himself and elucidated how Bitcoin is controlled.

Currently, each BTC can be purchased for $8,615 and it has a market capitalization of $152 billion, according to data provided by CoinMarketCap.

Bitcoin’s price is $58,226.46 BTC/USD exchange rate today. The real-time BTC market cap of $1.09 Trillion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $24.49 Billion and live coin value change of BTC -0.88 in the last 24 hours.

Live Bitcoin (BTC) Price:

1 BTC/USD =$58,226.4596 change ~ -0.88%

Coin Market Cap

$1.09 Trillion

24 Hour Volume

$24.49 Billion

24 Hour VWAP

$58.09 K

24 Hour Change

$-511.89

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