CoinShares: Managing Bitcoin by Six Developers Is a Myth

CoinShares analysts opposed the popular view that a small group of people is behind the management and development of the Bitcoin network.

Experts undertook to refute the data of The Wall Street Journal, which published an article under the heading: “The future of bitcoin depends on a small group of secret programmers.”

In a report dated February 17, CoinShares stated that the development of the first cryptocurrency and the approval of the Bitcoin Core software is supported by a large distributed group of workers.

According to analysts, researchers, developers, testers, reviewers around the world are involved in the work. They work together to improve and maintain the software:

“Participants in the process can propose changes to the code, test them, view and comment. Anyone involved in the Bitcoin Core project is considered a member. This open, collaborative drive is vital to the success of the project and its continued growth.”

The emergence of the historically first cryptocurrency is often associated with various conspiracy theories.. For example, Natalia Kasperskaya stated that BTC is a development of the US intelligence agencies.