Seven points from Changyong’s speech at the BCH Bangkok conference:

  1. What the market needs is not a stable underlying protocol, but an improved user experience. This is a very simple truth, Alipay users do not care about the underlying agreement of Alipay, care about Alipay user experience. Underlying protocol stability is bound to make it harder to improve the user experience than systems without this limitation.

    1. The multi-chain situation has weakened the effectiveness of miners’ votes. In a case of one-chain computing power, miners’ sunk costs force them to analyze decisions carefully and vote. But with BTC and BCH co-existing, miners don’t need to care about BCH’s vote, it can just dig BTC. Ultimately, it is the user-determined price that determines the computing power. Therefore, combined with the failure of the New York consensus and the Hong Kong consensus, I doubt the validity of computational force’s way of marking voting decisions.

    2. Now it is impossible to return to the satoshi era, we must explore our own way forward. Satoshi nakamoto could not have foreseen and planned all the difficulties that bitcoin faced in its development. Since the centralization of development eventually led to the birth of BCH, BTC and BCH double chain coexist, which has already deviated from Satoshi nakamoto’s earlier vision, resulting in huge changes, such as the miners voting problem above. The first thing CSW needed to do to get back to the old days was to remove EDA and DAA from the new version, which would not survive a month. We now have no retreat, can not expect satoshi nakamoto salvation, can only try to grope forward.

    3. Current multi-team competition is conducive to decentralization of development. This is what I proposed in my 2016 article. But this requires new forms of community governance, because competition makes it difficult to get consensus at every escalation and requires rules to make decisions. This is why I support the proposal to standardise seaward slopes.

    4. Can’t be kidnapped by Never Fork. In the presence of competing teams and mutual resistance to escalation, the so-called “never fork” consensus becomes an obstacle to system evolution. Because the minority can stop everything from escalating by threatening a fork. Therefore, I emphasize not to be kidnapped by Never Forking, nor to kidnap others by Never Forking. The minority’s right to fork should be recognized and protected.

    5. The November update that has been released should be on schedule. The November 0.18 update is a normal upgrade proposed by the existing development team in accordance with the existing community governance structure. No obvious major problem should be delayed or cancelled. NChain did not object to the ABC team during the consultation period, and objected only after the release, without providing a strong basis for opposition. Such a delay or cancellation of the November upgrade would create significant obstacles for subsequent upgrades. The ecosystem will have a hard time deciding whether to deploy and connect with a announced upgrade.

    6. In the case of small market demand, increasing block capacity too quickly will lead to higher operating costs of small enterprises in the ecosystem (miners, exchanges, payment providers, etc.) and leave the ecosystem. It’s just as unwise for Core to drive away micropayers when there’s a lot of hardware space.