I want to address this natural urge to want to know who is behind the code of Bitcoin, because, as we all know, speculation will always abound in the presence of a mystery and thanks to whoever Satoshi Nakamoto is and their strict personal application of anonymity. There will always be this aspect to the beginnings of the very first successful cryptocurrency. That, however, is not what this video will be about. This video is going to cover who the people are behind the Bitcoin of today. Now, if, however, you are interested in learning more about the early days of Bitcoin who played instrumental roles in its creation and early development, you need to check out the links to additional videos that I have made and, as always, they can be found down below. In the video description, bitcoin has changed a lot over the years and I think it's equally important to know who is actually behind the bitcoin of today, so let's get into it Music. Every so often I receive a great comment or question within the comment section that I know will be a great topic for a video. Several weeks back, a Charles Ayres wrote this honestly CT crypto tips I'd, like you to cover the decentralized group that is responsible for maintaining bitcoins algorithm I've, searched a little and have asked other crypto content creators, but either no one seems to have an answer or is Avoiding the subject altogether, it feels like The Wizard of Oz in a sense I'd like a peek at those who are behind the curtain.
So, in light of the common assertions that Bitcoin was created by the CIA or some other secret government organization, and as we progress through this video today, I want to encourage you all to remember this very fine and crucial point that bitcoin is an open source software. One in which anyone anywhere at any time can view it analyze it and download it if they so choose. I don't know about you, but for me that kind of blatant transparency is not something that many, if any government anywhere would like to be promoting. If nothing else, then, for the sake of national security, of course, additionally, for anyone suspicious of the motives behind the continuation of Bitcoin, again, you are free to analyze the code, join the discussion groups and anonymous mailing list and really put your ear to the ground. To get a better understanding of the problems that exist and the solutions being tested again, links to these discussion groups can also be found in the video description now. If, however, you want to understand the motives behind these proposed solutions, whatever they may be, it's always wise to first look at who is funding them. If anyone at all and as they say, follow the money, a new report has come out from the research team behind the centralized exchange bit mechs and their findings regarding who exactly is funding the development of Bitcoin. Now, for those who seem to be hyper concerned with the centralization of Bitcoin mining and their ability to take over Bitcoin I'd say, the source of funding for development is a much more relevant and pressing issue by the way.
If you want to know my thoughts on the likelihood of a hostile takeover of Bitcoin check out the link to that video again in the video description now, Satoshi Nakamoto intuitively designed the Bitcoin miners to be incentivized to play by the rules rather than to try to Take it over, but as this network has grown, other changes like big companies and venture capitalists have stepped in to provide funding for developers and other infrastructure that would help support the growth of the network. Now this is an entirely different kind of centralization and no doubt is a great place to dig in if you are at all suspicious of the motives behind certain developments of the Bitcoin network, like, for example, the implementation of seg wit, which is short for segregated witness. One scaling solution added to Bitcoin in 2017, but let's take a look at this report and see what they have found that is publicly available information. So there are well over 50 Bitcoin developers who are being funded one way or another. Among the list of entities. Funding developers for Bitcoin are, of course, block stream, Lightning, labs square, crypto, MIT chain code and others block stream and lightning labs fund 8 developers, each so totaling 16.