Bitcoin Developers Need Funds or BTC Network Could Falter

Alisha Deo

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• Bitcoin developers rely on donations to stay afloat and work on the network.
• James O’Beirne expressed concern that the developers may be unable to continue their work without additional funds.
• Steven Lee believes that once crypto prices rise again, the money needed by the developers should come in.

Bitcoin Developers Need More Funds to Stay Afloat

The world’s biggest crypto network, Bitcoin, relies heavily on its developers and other individuals working hard to bring it to fruition. Primarily, these people rely on donations and grants to maintain their livings and their jobs – tasks such as maintaining and writing additional code for the network. Without more money, they may not be able to keep up with the upkeep of the blockchain behind BTC.

James O’Beirne Expresses Concern About Lack of Funds

James O’Beirne is one of Bitcoin’s top developers who recently took to Twitter expressing his concern that if enough money isn’t donated soon, the remaining developers will have no choice but look for other jobs which could result in bitcoin falling behind.

Steven Lee Believes Money Will Come In With Crypto Price Increase

Steven Lee – head of a division at Jack Dorsey’s Block firm – believes that when crypto prices shoot up again, people will start donating more funds for the upkeep of Bitcoin allowing its development team to continue doing what they do best. He stated: “You [need] to recognize that we’re in the middle of a bear market… some companies… have had to reduce [funding] due to financial pressures”.

Gloria Zhao Discusses Maintenance Work Involved In Software Projects

Gloria Zhao helps maintain one of most popular forms of software related-to bitcoin – Bitcoin Core – and she believes that maintenance work is essential in keeping any project alive and running; 70% being dedicated solely towards bug fixes and minor protocol changes like Taproot or Package Relay.

Conclusion: The Asset Will Never Collapse Despite Rough Year 2022

Despite what has been a rough year in 2022 for bitcoin holders, industry heads remain confident that with time things will turn around allowing donors enough funds so developers can continue doing what they do best: taking care of BTC’s blockchain network ensuring it remains one of the biggest cryptocurrency networks out there today.