There is nothing more pleasant than going to a conference and enjoying the selfies of Litecoin fanboys and Nu males with terminal soy face, as was witnessed in San Francisco recently. But sometimes things do happen that really matter, for the better or for the worst. This was the case for Baltic Honeybadger 2018, which was held in Riga, Latvia. The conference organized by HodlHodl, a serious exchange, who served as the curtain which unveiled the creation of the ‘B Foundation’.
But what is the B Foundation? According to their creators, some of the brightest and most tolerant people in the cryptocurrency world! The B Foundation is a new support organization that will push forward development for the Bitcoin Core ecosystem, and most importantly for the Lightning Network. One would hope that now they’ve organised themselves better, they will be able to finally reach that 18 month deadline for the Lightning Network. The group is compromised of prominent BTC supremacists, including Elizabeth Stark of Lightning Labs and Adam Back of Blockstream. For the technocrats this is good news, but for the vast majority of the BTC ecosystem it means continued problems.
Centralization and segregation of non-aligned developers will surely be a thing that these maximalists exercise when shepherding their flock of sheep. Take the example of Giacomo Zucco, a BTC supremacist who thinks every coin that’s not the BTC ticker is a scam and if someone promotes spending Bitcoin they’re a scammer. To learn more about what BTC supremacism is, take a look at our Op-Ed article here. If people like him are leading the efforts of the Bitcoin Core cult, we could only expect the project to accelerate down its path of destruction.
The sad part is the contradictions that Giacomo has implied. In the religious texts of Core, decentralization through home user nodes is heavily promoted and changes to Bitcoin, like SegWit, are forbidden. Still, Giacomo Zucco ascertains that there is no need for a Bitcoin foundation and they do it for marketing purposes only.
There is a disconnect between the actions of these people and what they preach. But worse than this, they claim Bitcoin has no leaders as they rule with an iron fist. Chris Derose articulates this perfectly: