A Modest Bitcoin Improvement Proposal, Proposal

14 Mins read

This is an opinion piece about BIP119 (OP_CTV). If you would like to submit a counter argument, please email Bitcoin Magazine.

We’ve Got A Problem

Decentralized consensus isn’t easy. There’s a reason most companies have CEOs, and “non-hierarchical” organizations tend not to function well for long. Bitcoin’s decentralized governance is harder still: On top of decentralization, we layer a relative lack of official processes, standards and norms for group decision-making — we even lack clarity around when to make a decision at all.

Jeremy Rubin’s recent proposal of a Speedy Trial consideration for Bitcoin improvement proposal (BIP)119 (OP_CTV) has brought these issues to the fore, illustrating just how difficult and amorphous the Bitcoin decision-making process is.

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