As the creator of Bitcoin, Dr. Craig Wright laid the foundations of the crypto economy as it stands today. Yet in his latest blog post, Dr. Wright concedes that many of the problems of implementing his vision stem from his own errors.
In particular, Dr. Wright suggests that his “failure to explain things to people” in the correct manner has led to the “multitude” of problems currently facing Bitcoin.
He attributes these problems to misunderstandings of the original whitepaper, with reference to those he says have since hijacked Bitcoin with the intent of subverting government and existing legal frameworks.
Instead, Dr. Wright maintains that Bitcoin was created to operate within existing legislative frameworks, and was never conceived of as a rival to the authority of governments and the law.
He says he thought it would be “clear and obvious” that this was how Bitcoin was intended to function.
Some of the things I allowed in the early days came from not understanding the people I was dealing with. More, I didn’t explain things terribly well. I thought it would be clear and obvious that attacking the network would be an action that would be punishable by law. Bitcoin was designed to work within existing legislative boundaries and frameworks. My biggest error was assuming that people would understand it so.
On BTC, Dr. Wright says individuals with “different agendas” have taken over, and developed bitcoin in a way that runs counter to its original vision and purpose.
“The people who took control of Bitcoin Core have had different agendas, and one such agenda includes an anarchist view where government is not involved. The error they make is to assume that Bitcoin can ever be made to run on millions of nodes that all connect outside of the reach of government. Most of the work that went into the building of Bitcoin lay in architecting a system that could not be subverted in such a manner.”
He went on to clarify: “Bitcoin is not a cypherpunk creation. The references to timestamping and other systems are not cypherpunk in nature, and the system is designed to be extremely resilient to such attacks. My biggest mistake was believing that people would understand that Bitcoin would not subvert the government but rather act within the law.”
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