The sky is falling! Bitcoin leaders and visionaries, friends, allies and collaborators have turned into a pack of fighting rats. Bitcoiners are watching helplessly how their former semi-gods are destroying their life-savings (Money is reputation and by killing reputation they kill bitcoin). And what is left will be taken over by NSA and replaced by banks' private chains.
Why?
Because of the consensus.
Anyone who ever run a business or just has some life experience, knows: There Must Be Only One Boss. Many bosses - receipt for disaster.
Because people tend to disagree. It's in our nature.
What would happen if we demand consensus from core developers? It depend on how much do they care.
If they don't care a lot, it'll be stalemate. I.e. nothing will be done. It was yesterday.
If they do care a lot, it'll be a war. I.e. everything will be destroyed. It is today.
So, one boss. But one boss means centralization. The boss will work not for us, but against us, for himself. Or for NSA. Problem we have.
If we want anything done, there must be one boss.
If we want anything done
for us, everybody must be the bosses.
How to resolve this dilemma?
The solution is known for thousand of years: The Free Market. And it already exist in coinspase: altcoins. If you feel you know the right way, create your alt. Or join (and obey) any other creator. Or use anyone's alt. Creator is the boss because he is choosing what to create. And user is the boss because he is choosing what to use. The problem solved, hurrah!
-Want big blocks? Here is an altcoin for it.
-Want fast confirmations? Here is an altcoin for it.
-Want anonymity? Want blacklisting? Want micro-transactions? Want whatever you want, there will be an altcoin for it, tailored for your needs and tastes.
Except it doesn't work. We are not using this solution. Instead of sailing off happily on our favorite altcoin, we are all remaining hostages on this sinking bitcoin Titanic.
Why?
Because of cost of switching.
If switching costs are low, customer is a king. He is in control.
If switching costs are high, customer is a hostage. He is powerless.
Switching costs in bitcoin are very high. Buying an altcoin is a bet. And considering the number of possible wrong ways (and the most of ways are wrong) - almost guaranteed losing bet. Switching is too high risk. And this risk turns us from kings to hostages.
So, to make the free market to work, we have to eliminate the cost of switching.
Fortunately, it is possible. What's more, it is almost done. I'm talking about sidechains, of course. If you bet on a wrong sidecoin, you won't lose a dime, because you can always switch back to main bitcoin blockchain or to any other sidecoin. At the rate 1:1. Which means that the risk (i.e. the cost) of switching is zero.
As Antonopulos predicts, switching between sidecoins would be done directly in smartphone wallets. You may even don't bother to know, which exact sidecoins are used for this specific transaction.
So all what have to be done is to:
1. Complete the sidechain BIP (along with bigger blocksize, to cut paranoia level
)
2. Freeze the bitcoin core code.
The frozen core will give stability and sidechains will give flexibility. And let a 100
flowers sidechains blossom! While the miracle of free market will turn fighting rats and evil gods back into our best friends.
tl;dr: Sidechains (i.e. blockstream) will enable free market in bitcoin development. It'll save Bitcoin.