NEW YORK / LONDON (IT BOLTWISE) – A recent survey from Galaxy Digital shows that institutional investors have little interest in the ongoing debate between Bitcoin Core and Knots. Despite the controversy surrounding the Bitcoin Core v30 update and the associated risks to blockchain integrity, the majority of investors remain unimpressed. This could have long-term implications for Bitcoin adoption and development.
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The debate between Bitcoin Core and Knots has become more intense in recent months, but it does not seem to interest the majority of institutional investors. Alex Thorn, head of research at Galaxy Digital, noted that many investors are either unaware of the discussion or do not attach importance to it. This dispute revolves around the question of whether Bitcoin should be used exclusively for financial transactions and whether non-financial transactions should be considered spam.
The controversy was sparked by the Bitcoin Core v30 update, which some critics say opens the door to spam transactions. Proponents of Knots nodes argue that such transactions should be filtered to prevent illegal or immoral content from being embedded on the blockchain. Bitcoin Core, on the other hand, warns that restrictions could fragment the network and confuse users, contradicting the core principles of the technology.
A survey of 25 institutional Bitcoin investors served by Galaxy Digital found that 46% of respondents were unaware of the debate and 36% either had no opinion or were indifferent. Of the remaining 18%, all supported Bitcoin Core’s arguments. Thorn emphasized that real investors and service providers see the debate as a hypothetical problem that has no real impact on their investment decisions.
Thorn sees three possible outcomes to the debate: either it will be ignored and forgotten, or it could harm acceptance by spreading fear about Bitcoin. A third, but unlikely, possibility would be that the proposed changes are adopted, but this could cause lasting damage to Bitcoin’s acceptance. The discussion about the legal implications of the proposed soft fork has already caused a stir, but it remains to be seen how the situation will develop.
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