Current State of Bitcoin

Bitcoin is in fact in the middle of civil war. Several groups with questionable agenda attempt to control the development of Bitcoin, which makes network weaker and disjunct. Developers are silently introducing fork-causing changes like BIP-66, putting the money of users at risk. We're at brink of Bitcoin splitting in several forks, which would lead to feuds, intervention, and eventual destruction of network and values Satoshi stood for.

The text above was written by our team of cryptomarket analysts in 2016. And indeed, we predicted the current events: bitcoin is split into myriad forks, every one claiming superiority and being an effort to steal people's bitcoins under various pretenses like pre-mining or just to control the blockchain. There's even a fork claiming our name, United Bitcoin, which aims to steal all "inactive" bitcoins and put them in domain of some shady committee. Such power shouldn't be concentrated in hands of some random coders.

Node Security

Full nodes were never designed by Satoshi to be as widespread. Currently, full blockchain size exceeds 100GB, consumes a lot of bandwidth, RAM, and only few users can run one.

The node power must be consolidated. As nodes are strategically important parts of the network, they must be placed in secret areas, protected by government. Currently, banks are using high-security vaults to store commodities and critical computing infrastructure, they also run large secure datacenters: these locations can be used for nodes. Banks will be hosting Bitcoin nodes and local government will ensure their location satisfies top-level security criteria.

Banks will also ensure no bitcoins are used for harmful purposes like purchasing drugs, assault weapons or sponsoring terrorism: users will no longer fear that their bitcoins are contaminated by questionable operations and will no longer fear being apprehended for crimes they did not commit.

Software Development

Bitcoin source code being available for everybody, including malicious parties, naturally causes security problems. Solution would be to restrict access to source code to specialists, who would control Bitcoin development and ensure all problems with network are being resolved fast and with least possible downtime, providing cryptographically signed software updates to all banks and end-users. This ensures the code have not been tampered with additionally measures can be deployed to detect participants using unauthorized modifications to client, endangering the network. The government will also be issuing licenses for banks to run node software, protecting the users from rogue nodes.