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The last thing you want with any currency is two different sides arguing what the real "truth" is. The moment that happens, the currency loses any influential
by urda 9y ago
The last thing you want with any currency is two different sides arguing what the real "truth" is.
The moment that happens, the currency loses any influential power.
- codewiz 9y agoExactly. You need overwhelming consensus to change the rules safely. Bitcoin is currently in a state of disarray because groups of developers, miners, industry and users disagree on fundamental aspects of the scaling debate. There are no fewer than 4 competing Bitcoin fork proposals on the horizon, each one with an unknown number of supporters. The only thing we can measure accurately is "signaling" in blocks, where miners declare their intention to follow one fork when the designated time comes: https://coin.dance/blocks https://coin.dance/blocks However, there is such a thing as "false signaling" for strategic reasons, and hashing power can rapidly shift (or just appear, if new mining rigs come online) in favor of a different proposal at any time. This is indeed a deeply flawed voting system. In contrast, Ethereum still has a capable leadership with sufficient consensus that they can propose and execute hard-forks whenever they feel it's needed, without this level of uncertainty and drama.