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Yes, this comment is exactly my experience with Bitcoin advocates, too. I often post the exact same critique of Bitcoin in these stories, that there's no polit
by Frondo 11y ago
Yes, this comment is exactly my experience with Bitcoin advocates, too.
I often post the exact same critique of Bitcoin in these stories, that there's no political accountability in the Bitcoin technology to its users.
Bitcoin, of course, has economic assumptions baked in that influence how people use it, but those people have no real recourse to effect change in those economic assumptions. So its users, unlike with any national currency, have to take what they are given, without ever being able to have a say in how the currency is run.
This is antidemocratic at its core, of course, but the near-ubiquitous response I get is, "sure it's democratic, you just need to fork it and then persuade 51% of the network to use your fork," and occasionally someone comes out and says "people aren't fit to make economic decisions, it's right that Bitcoin makes those decisions for them."
Never has a single Bitcoin advocate ever said, "you're right, there should be some method in place for Bitcoin users to have a say in how it operates." Not once.
I haven't seen any other community so willing to either take power (for those who think of themselves as the techno-elite) or give it away (for those who recognize they aren't).
It reminds me of Terry Pratchett's running gag about how the people of Ankh-Morpork want kings back.
- wpietri 11y agoAbsolutely. The whole public story is "decentralized techno-magic freedom money with no nasty governments!" But as was pointed out long ago in "The Tyranny of Structurelessness", a lack of visible structure just means the true power structure ends up implicit. Right now it's fascinating to watch nominally technical decisions being made based on what mysterious Chinese mining organizations will think. I can appreciate the notion of having machines implement the transparently-published rules humans decide on as a way of increasing market trust. I'm not sure if it will work, as expressing rules sufficient to operate economies is very hard. But regardless, I'd like to see some rules about the humans who make the rules. Rule by law has been working out pretty well the last couple centuries.