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this is the original sin of bitcoin. Either the protocol can't be updated even for legitimate technical reasons or there exists a group of people who can change
by IIAOPSW 9y ago
this is the original sin of bitcoin. Either the protocol can't be updated even for legitimate technical reasons or there exists a group of people who can change bitcoin arbitrarily thus defeating the purpose. Right now the answer seems to be that a bitcoin politic exists but it is an extremely conservative politics. The miners know that if they are seen to be a centralized body in control then the value of bitcoin (and thus their own wealth) vanishes. Thus the miner cabal must pretend it doesn't exist. As more "normie" users join the miners might get more embolden and Satoshi's vision lost. What is to stop miners from creating a fork where the block reward never goes down?
- grey-area 9y agoAgreed. This cuts to the heart of my objections to bitcoin.