Any experienced engineer, in any field, would deem SegWit as too complex for the problem it is trying to solve, put it on the shelf for the future, and opt to find other solutions. An experienced engineer knows that when a proven production system hits a bottleneck, this bottleneck needs to be tackled locally with a minimal change, which will then expose the next bottleneck elsewhere in the system (we can seldom predict where) and the process repeats. Sometimes a family of bottlenecks is discovered which require a more systematic change, and then a larger-scale fix is justified.
The engineers of Blockstream, and their CEO, know that very well, but are deliberately pushing for a different agenda, a capitalist agenda.
The thing is, I see a lot of rage here, calling them “evil”, “malicious”, all sorts of f-words. And I think we need to change that. Bitcoin is a precious asset with a huge real-world value, and at the same time is vulnerable. Can you blame a commercial entity for trying to take over it? They are not evil and not malicious, they identified a weakness and are following a well devised plan to gain control over something of value using all means possible. This is capitalism 101.
Normally, a fundamental change to the currency in the scale of SegWit would result in a different currency, with a different name. Blockstream is simply trying to gain control over Bitcoin, while keeping the trademark “Bitcoin”. That is why we have this stalemate. Their “threats” of doing a UASF, BIP 148 and all that, will never materialize, because they are aware that if they make the first move and split themselves out, then they need to also pick a new name for their currency. And they want the Bitcoin name, totally understandable.
I think that if we stop calling them names, and instead start calmly calling it as it is, it will help bringing the truth to more people. Adam Back is leading a company which adheres to all free market and capitalist laws, and understandably is trying to gain control over a precious asset and trademark. The community sees that, and is defending against it. As part of this war, Blockstream and their engineers will try to make it look like they are following engineering principles; that is only a game, any engineer sees that including them. They talk about technical matters knowing that only 1% of their audience can call their bluff, but the rest 99% unaware people will appeal to their authority and accept their arguments at face value. Hence there is no point in having real technical debates with them, they are aware that from engineering perspective they are wrong, it’s all a show for them.
https://reddit.com/r/btc/comments/6eyxfw/adam_back_uadam3us_is_in_full_damage_control_mode/diefxkx/