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Yes, of course. But the fact that bitcoin governance makes it very difficult to introduce changes means that all the relevant decisions were made during the des

by lottin 5y ago

Yes, of course. But the fact that bitcoin governance makes it very difficult to introduce changes means that all the relevant decisions were made during the design phase by the original developers, and that everybody who came later had no influence on these decisions. Whereas a currency that is managed through democratic institutions allows the community that uses it to have control over crucial aspects of the currency, whereby being more democratic and less authoritarian.

bigger_inside 5y ago
True, the basic lines were set in the original development, that is true. Yet, they continue to be followed by this swarm, which is continuous consent; they could all stop and do something else, but every attempt at that has created largely unsuccessful forks. And... do you really believe currency management decisions on the level of the US Federal Reserve or the European Central Bank are in any realistic sense democratic? I'm not being snippy, I'm really puzzled by that statement.
- lottin 5y ago
  The US Federal Reserve and the European Central Bank are democratic institutions inasmuch as they have a public mandate and are subject to public scrutiny and control. I'm not aware that anyone disputes these facts.
  - elsalviador 5y ago
    Central banks are a core tenet of Karl Marx's communist manifesto. If by democratic you mean "the people's bank", then I do not disagree with you. In the land of the free, Ron Paul attempted to audit the fed for decades. Unsuccessfully.
gverrilla 5y ago
Well you could create your own fork. If the masses decide it's good, there will be adoption and value aswell. Try to declare an island sovereign territory to see what happens. Because bitcoin is mainly built in imagination-land for now. That's why bitcoin tech has given birth to a lot of different protocols and cryptocurrencies with wildly different implementations. Because it was open source from the beginning. Communities having control over crucial aspects of the government that governs them is not the rule at all.

by lottin 5y ago

bigger_inside 5y ago

True, the basic lines were set in the original development, that is true. Yet, they continue to be followed by this swarm, which is continuous consent; they could all stop and do something else, but every attempt at that has created largely unsuccessful forks. And... do you really believe currency management decisions on the level of the US Federal Reserve or the European Central Bank are in any realistic sense democratic? I'm not being snippy, I'm really puzzled by that statement.

lottin 5y ago
The US Federal Reserve and the European Central Bank are democratic institutions inasmuch as they have a public mandate and are subject to public scrutiny and control. I'm not aware that anyone disputes these facts.
- elsalviador 5y ago
  Central banks are a core tenet of Karl Marx's communist manifesto. If by democratic you mean "the people's bank", then I do not disagree with you. In the land of the free, Ron Paul attempted to audit the fed for decades. Unsuccessfully.

gverrilla 5y ago

Well you could create your own fork. If the masses decide it's good, there will be adoption and value aswell. Try to declare an island sovereign territory to see what happens. Because bitcoin is mainly built in imagination-land for now. That's why bitcoin tech has given birth to a lot of different protocols and cryptocurrencies with wildly different implementations. Because it was open source from the beginning. Communities having control over crucial aspects of the government that governs them is not the rule at all.