Core Bitcoin Devs Leave Project, Create New Currency Called Decred (softpedia.com)

An anonymous reader writes: Core developers in the Bitcoin project have left and started a new currency called Decred. Developers are citing a lack of transparency and a conflict of interests between the group that funds the actual Bitcoin software development, and the decisions taken inside the project. Jacob Yocom-Piatt, CEO at Company 0, who has funded development of Bitcoin since early 2013: "This is in part due to a lack of mechanisms and pathways for funding development work directly from the community, and as a result Bitcoin development is funded by external entities that create conflicts of interest between the developers and the representative power of the community that uses Bitcoin."

Comments

Translation:

[Anonymous Coward]

"We can't make any more money off Bitcoin, so we decided to create our own currency."

Re:Translation:

[bazorg]

It's sad but these days the business model seems to revolve around selling tech companies, not selling the output of said tech companies.

Re:Translation:

[AK Marc]

and bitcoin is inherently bad for the environment. The processing needed to create new coins and the constant drain to process transactions is a massive waste of resources. Better would be a government run crypto currency, where the wallet was no less secure than bitcoin, but the coin generation was centralized and done in a way that didn't require increasing processing power. Yes, I know the supporters like that it's a deflationary currency out of the control of a government, but that's also one of the things that will prevent it from being used as a primary currency.

Not Bitcoin Core Developers

[phantomcircuit]

To avoid any confusion it should be clear that these are the developers of btcd not bitcoin core. As far as I know the only bitcoin core developer working on an altcoin is gavin andresen.