Many wonder what the reward should be for those who program and protect the Bitcoin code. There needs to be an incentive network that focuses on providing resources to programmers.
Many bitcoiners believe they must sacrifice to reach paradise on the pretext of being part of the open-source culture. While Bitcoin miners get payments in coins, those who debug the Bitcoin code and create working solutions have to settle for a pat on the back.
It would be hard to imagine the mining rewards system favoring programmers from the start. For example, people would never imagine Satoshi Nakamoto as a lone miner during the early days of Bitcoin. He turned on his machine, watched its operation, discussed his findings, and corrected any programming errors.
As he watched the first steps of Bitcoin, he kept the first coins issued by the network for his mining work. He wanted the concept to be attractive for others to mine, making the network larger, more distributed, and more secure. The reward for using his personal equipment, electricity, and time was a few coins worth nothing at the time.
It is also hard to think that developers would receive a payment for discussing ideas, discovering code gaps, or proposing changes to how the software works. Many expressed ideals such as breaking the barriers imposed by States and fighting against the thirst for power of dishonest rulers and businesspeople.
Bitcoin Programmers Seek to Make their Collaborative Spirit Evident
It would be no wonder if those who analyzed and corrected problems arising during the growth of Bitcoin as a network received many high-paying job offers. For example, a bank might ask them to create a private version of Bitcoin (BTC) if that is possible.
A rich person might want to take advantage of the ignorance and obsolescence of the justice systems to attack those sharing their advances. Bitcoin programmers hope to show how the collaborative spirit can overcome the selfishness of ambitious power hoarders, rulers, and tycoons.
Despite the obstacles, Bitcoin programmers always find a way to keep the community going. Although many leave due to a lack of economic incentives, others arrive because of the challenge of improving a code seemingly perfect.
An Economic Compensation for those Developing the Bitcoin Code
At the moment, the people who collaborate in the development of Bitcoin do not obtain any economic compensation without depending on trusted third parties. If they had a reward like that of miners, there could be uncontrollable chaos due to the competition between people. The convulsion of the mining market goes beyond the benefits related to security, which implies the craze for mining the cryptocurrency.
It is unthinkable to see thousands of people fight for the reward of programmers, throwing codes right and left. It seems like a scenario with too many variables, but Bitcoin precisely seeks to simplify the system to reduce security problems.
If they had a reward like that of miners, there could be uncontrollable chaos due to the competition between people. However, that does not seem to be the way to prevent developers from becoming frustrated due to the lack of economic incentives.
Some special programs and grants help Bitcoin developers earn a living from their work. However, the intensification of threats by states and banks makes it difficult to think of emerging solutions.
By Alexander Salazar
