Video - Bitcoin Q and A Rules versus Rulers

I am in favour of activating Segregated Witness (SegWit), but I am no more an authority than anyone else. Make up your own mind.

Here is why I think SegWit should be activated: it solves a number of different problems and is the best-tested solution that exists. I used to think that big blocks would be better; I've run Bitcoin Classic, XT, and Unlimited to evaluate the software and understand how they work. The problem with Unlimited is that it doesn't change the rules -- it sets the rulers, who will get to change the rules.

That is a very dangerous thing to do in Bitcoin, and Unlimited is also an untested system of consensus. Bitcoin will be attacked eventually; maybe it's better that it's sooner rather than later. Hard-forking Bitcoin without very broad consensus will hurt investment in this space as a whole. But for those who use it as a currency, it still works whether the price is $20 or $200 or $2,000.


Written by Andreas M. Antonopoulos on May 25, 2017.