Bitcoin: Democracy and Debate

Brian Armstrong, founder and CEO of our portfolio company Coinbase, published two back to back posts yesterday on the dual topics of Bitcoin governance and the scaling Bitcoin debate.


I’d encourage everyone interested in Bitcoin to read these posts as they address two of the most important issues facing Bitcoin today; how Bitcoin is governed and how Bitcoin’s transaction processing power should be scaled from its current levels to Visa/PayPal levels over the next 5-10 years.

There are many reasons why Bitcoin is so interesting but for me the core reason is the decentralized nature of the technology and how it is designed to operate and evolve. Bitcoin is political in the sense that it has a belief system and that is that no one person or entity should control it.

What we are seeing right now is a test of that belief system and how Bitcoin answers this test will say a lot about its future. I happen to agree with Brian’s views on both topics and I am glad that Brian and Coinbase is stepping up and taking a vocal position on both.