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bitcoin maximalism is the worst. wealth will tend to concentrate over time anyway (parteo distribution) and a "ruling class" will emerge on bitcoin. miner's vot
by stackzero 5y ago
bitcoin maximalism is the worst.
wealth will tend to concentrate over time anyway (parteo distribution) and a "ruling class" will emerge on bitcoin.
miner's voting with hash power is not the future of cryptocurrency governance.
If bitcoin does not evolve to allow this effectively it will be regulated out of common use.
It's possible to experiment and build decentralized governance models directly into blockchains see e.g. https://polkadot.network/polkadot-governance/ https://polkadot.network/polkadot-governance/
(disclaimer not a shill I like the tech)
- throw2500 5y agoThe problem: the libertarian ideology that inspired Bitcoin explicitly denies that there can be a ruling class because free markets are optimal, distributed, and stay free forever. But a Pareto distribution is kind of the default wherever people interact. So a system needs to be deliberately constructed to counteract it, if that's its goal. And saying "praise the market" won't be enough.