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The existence of Ethereum Classic disproves your assumptions of Vitalik's unlimited power over the course of the development of Ethereum.

by bhaak 6y ago

polyomino 6y ago
the existence of Ethereum classic doesn't affect the governance of Ethereum in the same way that stellar does not make a difference to the governance of ripple.
- bhaak 6y ago
  Stellar is more like LTC as McCaleb took Ripple's code and forked it. But Ethereum Classic and Ethereum share a common blockchain history and it proves that the community doesn't always follow blindly the proposals of the Ethereum devs. That event (a part of the community splitting of on a hardfork and forming Ethereum Classic) has affected the governance of Ethereum ever since. Not directly, but indirectly. Every hardfork is now checked for contentious changes very thoroughly. The last major change that didn't make it because of that was the proposed change to the mining algorithm (granted, ProgPOW had other problems as well).
xorcist 6y ago
Ethereum Classic is completely irrelevant to the wider Ethereum ecosystem. There is no real world use. It probably wouldn't even exist without Grayscale.
- crazydoggers 6y ago
  You’re missing the point. The point is that the chain can fork at anytime. If the community doesn’t like the difficulty bomb, they fork it. Ethereum classic is an example of that happening. It so happens that the consensus of the majority decided to stick with Ethereum rather than classic. But still no single person or entity gets to decide.
  - xorcist 6y ago
    Forks can not be functional for any practical purpose. Because every release is time limited, you have to stick to the official release at every time, or else fork completely. The Ethereum foundation kept a huge stash from the pre-mine, so you'd have a hostile actor with a large position on your forked chain, enough to crash the price of any nascent chain. This combination is a governance model rooted in game theory. Ethereum Classic shows pretty well how this works in practice. There was controversy around the DAO, yet no fork could be kept functional. It is a Grayscale project which they will keep around as long as people are willing to speculate on it. Nobody pretends it has any real use.
    - CryptoPunk 6y ago
      >>The Ethereum foundation kept a huge stash from the pre-mine, so you'd have a hostile actor with a large position on your forked chain, enough to crash the price of any nascent chain. This is completely false. The Ethereum Foundation has less than 0.5M ETH, or less than 1% of the total supply.

The existence of Ethereum Classic disproves your assumptions of Vitalik's unlimited power over the course of the development of Ethereum.

by bhaak 6y ago

The existence of Ethereum Classic disproves your assumptions of Vitalik's unlimited power over the course of the development of Ethereum.

polyomino 6y ago

the existence of Ethereum classic doesn't affect the governance of Ethereum in the same way that stellar does not make a difference to the governance of ripple.

bhaak 6y ago
Stellar is more like LTC as McCaleb took Ripple's code and forked it. But Ethereum Classic and Ethereum share a common blockchain history and it proves that the community doesn't always follow blindly the proposals of the Ethereum devs. That event (a part of the community splitting of on a hardfork and forming Ethereum Classic) has affected the governance of Ethereum ever since. Not directly, but indirectly. Every hardfork is now checked for contentious changes very thoroughly. The last major change that didn't make it because of that was the proposed change to the mining algorithm (granted, ProgPOW had other problems as well).

xorcist 6y ago

Ethereum Classic is completely irrelevant to the wider Ethereum ecosystem. There is no real world use. It probably wouldn't even exist without Grayscale.

crazydoggers 6y ago
You’re missing the point. The point is that the chain can fork at anytime. If the community doesn’t like the difficulty bomb, they fork it. Ethereum classic is an example of that happening. It so happens that the consensus of the majority decided to stick with Ethereum rather than classic. But still no single person or entity gets to decide.
- xorcist 6y ago
  Forks can not be functional for any practical purpose. Because every release is time limited, you have to stick to the official release at every time, or else fork completely. The Ethereum foundation kept a huge stash from the pre-mine, so you'd have a hostile actor with a large position on your forked chain, enough to crash the price of any nascent chain. This combination is a governance model rooted in game theory. Ethereum Classic shows pretty well how this works in practice. There was controversy around the DAO, yet no fork could be kept functional. It is a Grayscale project which they will keep around as long as people are willing to speculate on it. Nobody pretends it has any real use.
  - CryptoPunk 6y ago
    >>The Ethereum foundation kept a huge stash from the pre-mine, so you'd have a hostile actor with a large position on your forked chain, enough to crash the price of any nascent chain. This is completely false. The Ethereum Foundation has less than 0.5M ETH, or less than 1% of the total supply.