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This is one of my big issues with Bitcoin, and other cryptocurrencies. It's not a democratic system, it's controlled by whoever has the most investment in the c

This is one of my big issues with Bitcoin, and other cryptocurrencies. It's not a democratic system, it's controlled by whoever has the most investment in the currency (either through mining power, or amount of currency). This means that the people who get the most decision making power are incentivized to only make changes that help their investment. Any change that would help a majority of users, but harm these top users, is basically a non-starter.

tromp 6y ago
With some crypto currencies, the developers are invested only by development efforts, holding negligible mining power or amount of currency (which they have to buy like anyone else). They work like a meritocracy, with those who contributed most to the design and coding have the most decision making power.