- The protocol gives control to one authority.
- Not discussed with community before implementation.
- Is disliked by people since it becomes like the older system of one authority.
Are bitcoin payments killed due to political issues? Can it be changed?
Bitcoin should stay completely away from any kind of political activity. There is a BIP070 protocol made use of by Bitpay which is a very famous payment processor. The software associated with Gavin Andresen is added to this and this is causing some serious issues with the security of the bitcoin that is not going on too well with people.
Bitpay completely forced the payment protocol for the security of virtual currency and this could have some serious impact on the usage of the BTC. This was a step which was implemented without too much of consultation and that has not gone too well, with lots of people. There were absolutely no public negotiation or any discussion with community members and this was immediately applied.
This is something that again gives the control to one authority which is not something which people from the crypto world will be accepting, this is something that needs to be changed quickly or can have a serious impact on the community. Again there is a centralized controller; people do not desire to have something like that in the name of security. This is a very famous payment processor and it is very ad to see something like thing done by such a popular organization.