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> What is added to the social value of bitcoin or cryptocurrency in general? Authoritative leadership. Nakamoto filled this role historically, and since becomi
by gnode 7y ago
> What is added to the social value of bitcoin or cryptocurrency in general?
Authoritative leadership. Nakamoto filled this role historically, and since becoming absent Bitcoin has faced a scalability crisis, and resulting loss of confidence leading to forks. Arguably this has prevented Bitcoin gaining greater use as a currency and payment system, rather than as an investment.
Founders often serve the role of a steward in open projects, and help give direction to development. Examples are Linus Torvalds, Larry Wall and Richard Stallman.
Cryptocurrencies in particular need a consensus on what is the canonical version of the software, so lack of authority is detrimental.
- Lordarminius 7y ago> Authoritative leadership. Nakamoto filled this role historically... I would argue the exact opposite. Satoshi's anonymity is a boon for Bitcoin. As long as he remains unknown, the project rises and falls on its own merits and market forces and consensus hold sway. We're he to be inserted into the picture, especially at this time, a dangerous dependency and cult of personality could arise. Not even going into the issue of what effect the billions of BTC in his name would have.