Jonas Schnelli is a Bitcoin Core developer and the co-founder of Digital Bitbox. He also develops and created libbtc, a Bitcoin library written in C which is available for Linux, FreeBSD, OpenBSD, Mac OS X, iOS, and MinGW.
Schnelli submitted his first line of code to Bitcoin Core in April 2013 and is #7 in terms of total commits to Bitcoin Core.
Schnelli is the co-founder of Digital Bitbox, a minimalist Bitcoin hardware wallet that has yet to be released.
0-confirmation by Satoshi’s whitepaper was always insecure, but because people have built systems on it, we have to make sure that it’s stable, that people can buy stuff instantly. I mean, you can’t wait ten minutes when you pay for a coffee; I agree.
A 2-megabyte hard fork does not improve the protocol itself, not a tiny bit. With Segregated Witness, we have a chance to get a ‘better,’ more optimized protocol, and reach almost the same amount of transactions per block. And, extremely important, Segregated Witness has almost full consensus.
I personally cannot understand why some developers are still thinking that a 2- megabyte hard fork is preferable. The main risks of a hard fork are not technical, but there are huge risks of disrupting the whole Bitcoin economy. The Bitcoin market is extremely fragile, and it fully trusts in developer consensus. Bitcoin is still very young. If we start fighting and disagree on the very deepest technical layer, we hurt Bitcoin in its core and will lose irreplaceable trust from the markets.
Schnelli explains what’s new in Bitcoin Core 0.12: