A Fortune 500 software developer has claimed that ethical degradation and over-engineering are two of the factors that are responsible for transforming Bitcoin into a ‘garbage network’.
Bryce Weiner is famous for being a part of many controversial crypto projects. Presently, he is developing the software architecture for a Blockchain-based product for the music industry, called the Tao.
One of his previous projects called the GamerHolicCoin was quite controversial amongst the Bitcoin community. Reportedly, GamerHolicCoin’s central node stopped accepting more connections. It resulted in the coin forking into various versions.
The Fortune 500 Software Developer decided to criticize the world’ largest cryptocurrency without much elaboration.
Weiner subsequently elucidated that calling Bitcoin a garbage network was just a humorous attempt at responding to a personal comment. Weiner believes that while Bitcoin is not really a ‘garbage network’ (as he had claimed in his earlier comment), even still the cryptocurrency is suffering from many other issues.
According to Weiner, Bitcoin has not earned the right to become a worldwide reserve currency as it is not really democratic. Wiener added,
“The only thing democratic about Bitcoin is that we can fork the source code and do it over again.”
The community of Bitcoin supporters have not taken Weiner’s claims lightly. Some of the Pro-Bitcoiners have called Weiner an ‘internet troll’ while others have called him a ‘scammer.’ As per the supporters, the software developer is not able to support his anti Bitcoin claims with much evidence, thus his statements are baseless.
Weiner responded to the pro-Bitcoiners on Twitter by highlighting news reports, such as the one which illustrated that Wall Street has put plans to introduce Bitcoin-based products on hold. It is interesting to note that such content has failed to support the primary argument made by Weiner about Bitcoin not having the potential to become a global reserve currency.