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I've heard it argued that Bitcoin's unique feature, something that makes Bitcoin exceptionally valuable in comparison to other cryptocurrencies is its governanc
by wickoff 7y ago
I've heard it argued that Bitcoin's unique feature, something that makes Bitcoin exceptionally valuable in comparison to other cryptocurrencies is its governance model.
Bitcoin governance is basically a combination of anarchy with extreme conservatism. In the 10 years of its existence there had been exactly zero intentional hard forks. The immutability of Bitcoin's fundamental rules is ingrained in its community.
Why is that important? Let's look at Ethereum for example. Ethereum's developers and community use hard forks to change the rules of their protocol all the time, you have no clue what Ethereum's inflation rate will settle at, its monetary policy is permanently in flux with singular individuals like Vitalik Buterin having enormous influence on governance.