Focusing Only On Bitcoin Core Development Is a Bad Idea

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Focusing Only On Bitcoin Core Development Is a Bad Idea

ForexMinute.com – The Bitcoin Foundation has announced to clamp down on its education, public policy and outreach initiatives to focus entirely on cryptocurrency’s core development. Their decision was based on some surveys they conducted among the inside and outside of the organization, all of which resulted in similar sentiment that the foundation must focus on Bitcoin core development only.

The Bitcoin Organization quoted in its blogpost:

“In the beginning, the foundation did it all — public policy, education and outreach, core development — primarily because there was no one else to do it. Thankfully we’ve come a long way since then and as the ecosystem matures, just as with any startup, it’s time to start shedding hats and specializing.”

From a techie’s point of view, this event marks something big in the over-halted development phase of Bitcoin, especially when altcoins with better transaction speeds and features are posing as its serious competition. But leaving back other major aspects of Bitcoin “actual” development seems like an immature decision, even though it came out of one, or three surveys.

Bitcoin, even without much development updates, grabbed enough eye-balls from both technological and financial sector. This happened only because of good publicity, advocacy, public policy and dozen other things which the Bitcoin Foundation just clamped down for a “greater good”. While it’s always great to address the lack of Bitcoin development, it is equally unfair to throw out all other important functions.

The Bitcoin Foundation today needs to treat digital currency as some sort of brand, if they really want it to be adopted on larger scales in the future. Apart from bettering the core, the focus should also be on adding new users to the community as well. For now, it seems like the developments are done only to satisfy a special section of Bitcoin community, which seeks anonymity, sidechains, and many other technological advancements. It’s time they think about the regular Joes as well.

To contact the reporter of the story: Yashu Gola at yashu@forexminute.com