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?
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.
I remember when "Bitcoin has poor/broken governance" was a popular refrain and was used as justification to promote alternatives. Now it has become clear that:
– Every project that becomes significant experiences the same governance struggles
– Being hard to change is good
— nic carter (@nic__carter) May 25, 2019
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.
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.