Post
Topic
Board Speculation
Topic OP
Bitcoin development problems
by
TheGhost
on 11/02/2014, 21:48:17 UTC
I think the most important aspect of this whole malleability problem is not the temporary shutdown of the exchanges, but how well bitcoin developers turnaround a fix.

Think, why didn't developers fix the malleability soon after it was discovered? It's because there were more pressing issues to solve, and didn't have enough manpower to solve all problems at once. If there were a few more devs on it, we would not be having these issues today.

Think of all the money that was lost this week due to the fact they didn't have a few extra developers on this problem. Large holders of bitcoin would actually benefit from investing in developers, to help protect bitcoin from the competition (and malicious attacks). Something with the market cap of bitcoin should have a lot more people developing for it... Perhaps someone like the Winklevoss twins needs to set up a bitcoin development fund that will reward developers for successful commits to the bitcoin project.

If the devs rush out a fix and it fails, or take too long, I will have questions about bitcoins ability to compete long term, even with the head start. Bitcoins greatest enemy is not governments or a lack of usefulness, it is competing cryptos, and if a crypto exists with 10x more developers, it will win.

Keep an eye on this update rollout.

P.S. hello, first post