4 ms·

Democracy was basically Bitcoin of the 1700s History books don't say stuff like this. You are making ahistorical arguments about men who owned slaves.

• Alex3917 9y ago
  With Bitcoin, those who don't own coins can at any point vote to take away all the coins from those who do. That's exactly the same problem that the founders were worried about. There isn't any sort of fancy historical imagination that's needed.
  • Diederich 9y ago
    > With Bitcoin, those who don't own coins can at any point vote to take away all the coins from those who do. Can you expand on that?
    • Alex3917 9y ago
      The way the Bitcoin protocol works is that there is a worldwide vote every ten minutes or so to decide how much money everyone owns. So when people say they own 5 BTC or whatever, what they're really saying is that the political faction that's currently in power recognizes them as having that many Bitcoin. But if a different party wins control of Bitcoin, how much money they're seen as owning could change drastically overnight.