Wright Slams Bitcoin Governance Model as Untrustworthy
Craig Wright, an Australian computer scientist who claims to be Bitcoin creator Satoshi Nakamoto, has reiterated his criticism of Bitcoin's governance model. He believes that the network's protocol should remain permanently fixed and not be modified through developer-led upgrades.
According to Wright, the current system allows developers, miners, exchanges, corporations, or foundations to rewrite the rules for their own benefit. This, he argues, undermines the concept of a decentralized network.
Wright also took aim at Bitcoin's investment narrative, which has shifted from 'electronic cash' to 'digital gold,' and now promises 'generational wealth.' He claims that these claims ignore basic economic realities and are unrealistic given the current market capitalization.