Gavin Andresen criticized Greg Maxwell, one of Bitcoin’s current lead developers, calling him a “troll.”
Andresen, heir apparent of Satoshi Nakamoto, Bitcoin’s enigmatic pseudonymous founder, had harsh words for Maxwell, CTO of Blockstream and one of Bitcoin’s main Core developers, on Twitter:
I was wrong; stay away from Blockstream, Greg and Samson are toxic trolls.
— Gavin Andresen (@gavinandresen) May 2, 2017
Bitcoin’s current trajectory has no end in sight to scaling issues
The social breakdown between the current developmental direction of Bitcoin’s Core team, epitomized by Maxwell, and supporters of larger blocks as a scaling solution, mainly associated with early Bitcoin investor Roger Ver, has resulted in a scaling stalemate. The effect of this stalemate has been a slower and more expensive to use Bitcoin than ever before.
In terms of price and market cap, Bitcoin is in the middle of an impressive victory march, passing its previous all-time high to a new high of nearly $1,500, finally exceeding a $24 billion market cap for a moment. However, Bitcoin’s network congestion is similarly near its highest point, resulting in high fees and slow transactions. In April, both the average and the median transaction fees reached an all-time high of $1.15 and 65 cents respectively, according to Blockchair:
— Blockchair (@Blockchair) May 1, 2017
Bitcoin’s unresolved congestion is bleeding users to Dash
As Bitcoin continues to become less useful to the businesses that originally leveraged the potential of its technology, a good chunk of that use case filters down into Dash. Robert Genito, the CEO of peer-to-peer cryptocurrency trading platform Wall of Coins, used to live entirely off of Bitcoin, but switched to Dash because of scaling issues. Dash has been on an integration tear across the board, scoring numerous new businesses and exchanges, noteworthy among them BitCart, a service offering Amazon gift cards for Dash at a 20% discount. Bitcoin-for-Amazon shopping platform Purse.io recently indicated they would not support Dash, pushing customers seeking to avoid Bitcoin’s expensive fees and high lag times towards BitCart.
Even as Bitcoin continues to surge past all-time highs, the rest of the cryptocurrency space is growing at an even faster rate. Notably, crypto-to-crypto trades excluding Bitcoin are at an all-time high, indicating that the ecosystem is diversifying away from Bitcoin dependence.