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Explanation of Application for Intervention
This application seeks to address the centralisation of control that BTC Core has assumed over the Bitcoin protocol, which undermines the foundational principles of decentralisation set out by Satoshi Nakamoto, Bitcoin’s creator. In Satoshi's vision, Bitcoin's core design was to be immutable and beyond the reach of any central authority, ensuring that the network would operate as a trustless, decentralised system.
However, BTC Core’s unilateral control over the protocol has undermined this promise of decentralisation. They have altered the protocol without broad consensus, centralising decision-making power in their hands. These changes have caused significant harm to miners, developers, and businesses who relied on the immutability of the protocol to make long-term financial and operational investments. This application argues that these stakeholders, the Interveners, must be allowed to participate in these proceedings to provide evidence of the damage caused by BTC Core's changes.
Key Issues Raised:
1- Decentralisation Undermined: BTC Core’s ability to modify the protocol directly contradicts Bitcoin’s original design, concentrating control over the network within a small group of developers. This control undermines the decentralised nature of Bitcoin, as envisioned by Satoshi Nakamoto, who explicitly stated that Bitcoin’s protocol was "set in stone."
2- Abuse of Dominance: BTC Core’s control places them in a dominant position within the Bitcoin ecosystem, allowing them to dictate the future of the network. Their actions, such as selective disclosure of protocol changes, allow them to pick winners and losers, favouring certain businesses while disadvantaging others. This is an abuse of dominance that stifles innovation and competition, which could be subject to scrutiny under competition law.
3- Consumer Harm: Bitcoin users, developers, and businesses are harmed by this centralisation. BTC Core’s control over the protocol limits user choice, restricts alternative development paths, and introduces security vulnerabilities that arise from centralised control. This goes against the decentralised and trustless nature of Bitcoin, which users expected.
4- Interference with Property Rights: Bitcoin holders invested in an asset that was supposed to be immutable. By altering the protocol, BTC Core has effectively changed the nature of the asset, infringing on the property rights of Bitcoin holders who relied on the protocol’s immutability for their investments.
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Relief Sought:
This application seeks to allow miners, developers, and businesses (the Interveners) to participate in the proceedings, providing crucial evidence of the financial and operational harm caused by BTC Core’s changes to the protocol. It calls for a thorough examination of BTC Core’s centralised control over Bitcoin and the consequences it has had for the broader ecosystem.
In conclusion, this application aims to restore Bitcoin to its original decentralised nature by exposing the abuse of dominance and ensuring that the voices of those harmed by BTC Core’s actions are heard in court.
CSW
Oct 23, 2024
https://metanet-icu.slack.com/archives/C5131HKFX/p1729662015473799
https://www.tg-me.com/us/CSW Slack Channel/com.CSW_Slack/6691
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