Dr. Craig Wright’s latest blog post, “Techno-Communism and the Desire for Socialism through Code,” grills software engineers that continually seek payment for the work they have done to a blockchain protocol. Throughout the blog post, Dr. Wright makes it clear that this style of core-development is akin to socialism.
Dr. Wright stresses that a skilled software developer can easily earn millions of dollars for their work if they are competitive and create products that the market desires and values. Dr. Wright also explains why it is the creation of real value, and not tweaking a blockchain protocol, that warrants a software engineer’s payment in the Bitcoin world.
“The ideal means of funding developers is the same as every other means of funding developers, corporations, and competition. If a developer is better than his peers, he can earn more,” writes Dr. Wright. “If a developer is entrepreneurial, the individual may be capable of creating a new corporation and creating jobs for many new people. There are no protocol changes that are necessary to make Bitcoin scale.”
How can Bitcoin engineers profit?
For those who may not be business-minded or have an entrepreneurial spirit, Dr. Wright recommends a few ways to create value and earn money as a Bitcoin engineer.
“Nothing stops them [core-developers] from forming an organisation designed to create APIs that may be sold to wallets or businesses. Nothing stops them from creating companies that would sell to individual nodes (miners). But to do so… they need to make a product that produces a result that is demonstrably better than any of the competition’s. They need to be good. Not just now, but continuously.”
And in what appears to be a jab at BTC core developers, Dr. Wright says, “such developers [core developers] do not seek to work hard and do not seek to create; they’re arguing that they deserve to be paid because they had been involved with Bitcoin or related systems earlier than some other person was.”
Many individuals pride themselves on how early they discovered Bitcoin, however, just because some individuals discovered Bitcoin and worked on it before others, that does not mean they should be entitled to a payment. Especially because, as Wright says, “No developer needs to add anything to save Bitcoin.” The original Bitcoin already scales and allows software engineers to create real value on-chain.
Dr. Wright’s latest blog post is full of insights regarding Bitcoin transaction processors, Bitcoin core-developers, and valuation creation in a Bitcoin world. Learning more about these topics will allow you and your Bitcoin business to operate closer to maximum efficiency. We encourage you to read the full post here to find out how.
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.