San Francisco 'Satoshi Roundtable' meeting fails to reach consensus

This weekend another “Satoshi Roundtable” meeting was held in San Francisco, California. The main goal of this meeting was to reach a consensus on the future development of Bitcoin, especially regarding the block size. Although many topics and proposals were discussed, the authorities did not reach a consensus at this “Satoshi Roundtable” meeting.

According to the photos we received, many interesting topics were discussed at the “Satoshi Roundtable” meeting in San Francisco. However, the top priority was to reach a consensus on the current debate about the Bitcoin block size, and the future prospects of Bitcoin were also discussed.

The main idea of ​​Satoshi Nakamoto was reinforced during this discussion and that the Bitcoin protocol should be open to anyone to participate. This means that not only developers or mining pool operators should have a say, but also individual miners and Bitcoin users in general. We are all Bitcoin supporters and everyone’s opinion matters.

It is important to keep Bitcoin open source, rather than making the popular digital currency private. Transparency can be achieved by keeping the code freely available, and no one can permanently own Bitcoin in the traditional sense. While some people use Bitcoin simply as a tool for anonymity, Bitcoin also maintains an optional additional identity that adheres to blockchain transactions.

In addition, there is no way to change the way Bitcoin and the blockchain work, all historical transactions will remain immutable, and the same principles apply to future transactions. At the same time, the upper limit of 21 million Bitcoins will not increase, so some people even suggest that the upper limit of the number should be explored.

At the same time, several proposals were made to make Bitcoin more perfect. An interesting topic was raised at the conference, namely how to make transactions safer and more reliable. Jake Mazulewicz talked about the fact that 25% of Bitcoin holders lose their Bitcoins due to human error, and there are problems that need to be solved as soon as possible. Solving these problems can only be achieved through teamwork.

Finally, Patrick M. Byrne gave a speech on the role of blockchain in the capital market. The existing financial system is completely broken and stocks have become just fancy IOUs. Blockchain technology will solve the problems of the financial sector as a transparent ledger while providing a new peer-to-peer value exchange.

There is no consensus on the blockchain size issue

It was a positive thing to see a wide variety of presentations at the conference, and these presentations will serve Bitcoin well in the coming years, however the main focus of this “Satoshi Roundtable” meeting was the block size debate. With the “who’s who” of the Bitcoin ecosystem emerging at this conference, it should be relatively easy to reach an agreement that works for everyone.

Unfortunately, this does not seem to be entirely the case. There was no consensus among the authorities at this “Satoshi Roundtable” meeting. We are closely following this event for more details and will update this matter as soon as more information is provided.