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That's great, I hadn't heard a term for that before, but that's exactly how I've been describing Bitcoin for a while. There's so much ideology in the space tha
by Obi_Juan_Kenobi 11y ago
That's great, I hadn't heard a term for that before, but that's exactly how I've been describing Bitcoin for a while. There's so much ideology in the space that governance is a toxic idea. Many like to ignore the reality of people coming together and having disagreements.
However, I wouldn't quite say that it describes Bitcoin, or rather, it only describes it up to this point. The real, ultimate strength, I think, would be a Bitcoin that has a market for governance. To wit, you'd have competing implementations, each of which would adopt some protocol changes, but perhaps not others, and each node and miner would be voting on the network (by participating, mining, etc.). Any majority would eventually create a longer fork and win out. This is what Gavin has been talking about for some time.
The real question is whether the network can withstand the constant possibility of forking, and some frequency of actual forks. I think it can, and would represent a dramatic shift of how Bitcoin operates. I see it as a bright new future and the ultimate in anti-fragile structure, while obviously others see it as a fundamental betrayal.