TD₿: How Not To Critique Bitcoin by Conner Brown
TL;DR Bitcoin’s extremely cautious development approach allows users to feel comfortable storing any meaningful amount of wealth in it.
Hey Bitcoiners,
It’s well known by now that Bitcoin development and upgrades move slower than the “move fast and break things” approach of the broader “crypto” space.
Bitcoin’s slow development is a common critique you often hear because I think many people are used to getting everything they want right away in today’s hyperconnected world. But with Bitcoin, the process is purposefully tedious and slow-moving because every single change is thoroughly scrutinized before being implemented into the code.
This is because Bitcoiners understand that we are building the foundation of the future monetary system, and even one mistake could risk bringing the whole project down. Therefore, every upgrade to Bitcoin is deliberate and carefully thought-out.
Another way to think of it is building on Bitcoin is akin to building a spaceship or a nuclear reactor. If there is even one mistake made, the consequences could be catastrophic.
One can argue that this approach of being cautious and conservative with the base layer is precisely what gives users confidence to store their wealth in the Bitcoin protocol. Users feel comfortable knowing that developers won’t act brashly to add bells and whistles to Bitcoin that jeopardize its underlying security or monetary policy.
Conner Brown wrote this piece in defense of Bitcoin’s strategy to move slow and don’t break things. (01/28/2020).
Ensuring Bitcoin’s foundation is rock-solid should always be the priority as developers continue to add features and functionality over time. Many market participants simply have to practice patience when it comes to Bitcoin.
Bitcoin is the tortoise; “crypto” is the hare.
Tick tock next block,
Cory Klippsten
PS - We’re hosting a Bitcoin conference in LA on November 10-11th that will be pure signal! Get your tickets today! 👉 pacificbitcoin.com
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Quote of the Day
“NASA and Nuclear Scientists test 900 hours for every 100 hours of code. Bitcoin requires the same diligence as putting people in space or building nuclear reactors. Move slow, don’t break things.” - Austin Hill, Cypherpunk, Bitcoin OG, and Investor
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Meet at Brother’s Bar and then watch some baseball with other Bitcoiners! ⚾ ₿
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Meme of the Day
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