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How do you avoid unaccountable third parties in a cryptocurrency like Bitcoin? Isn't policy currently being set, in practice, by a mix of the major miners (many

How do you avoid unaccountable third parties in a cryptocurrency like Bitcoin? Isn't policy currently being set, in practice, by a mix of the major miners (many behind the Chinese Great Firewall) and core developers, none of whom were elected or are accountable to you in any way? Hell, one of the people with influence over Bitcoin is just some rando who started a popular forum.

close04 8y ago
People will fight the government with all their might for trying to put in regulation and policy for as long as their own "good fortune" lasts. They think it's natural and possibly a consequence of their own individual abilities. People will fight the government with all their might for not trying to put in regulations and policy when their own "good fortune" ends. They think it was bound to happen and possibly a consequence of the government's inability. Most people are more like children than they'd like to admit. The evidence is there but they lack the willingness to understand it. They will fight you with all their might but when it does come tumbling down on them they will blame the parents for not doing more since they knew better.
deleted 8y ago
[deleted]
plankers 8y ago
Being able to review the code yourself is helpful, and being able to contribute to the code yourself is even better. It may not be perfect, but it's certainly a step up from bankers setting policy in their ivory towers, in my opinion. Changes to the bitcoin source code, as a rule, only happen when the development community has reached a reasonable consensus after public discussion. Then it's left to miners to implement this "policy" by running the software that developers release. Granted, not all bitcoin clients are run in this fashion, but you mention the core developers, who are held accountable to the community by their reputations. There's something greatly liberating about being able to talk to the policy setters on IRC and have them treat you like any other person, rather than part of the rabble.

close04 8y ago

People will fight the government with all their might for trying to put in regulation and policy for as long as their own "good fortune" lasts. They think it's natural and possibly a consequence of their own individual abilities. People will fight the government with all their might for not trying to put in regulations and policy when their own "good fortune" ends. They think it was bound to happen and possibly a consequence of the government's inability. Most people are more like children than they'd like to admit. The evidence is there but they lack the willingness to understand it. They will fight you with all their might but when it does come tumbling down on them they will blame the parents for not doing more since they knew better.

deleted 8y ago

[deleted]

plankers 8y ago

Being able to review the code yourself is helpful, and being able to contribute to the code yourself is even better. It may not be perfect, but it's certainly a step up from bankers setting policy in their ivory towers, in my opinion. Changes to the bitcoin source code, as a rule, only happen when the development community has reached a reasonable consensus after public discussion. Then it's left to miners to implement this "policy" by running the software that developers release. Granted, not all bitcoin clients are run in this fashion, but you mention the core developers, who are held accountable to the community by their reputations. There's something greatly liberating about being able to talk to the policy setters on IRC and have them treat you like any other person, rather than part of the rabble.