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> The fundamental political issue with cryptocurrency is now you've created some amorphous group of oligarchs whose power cannot be really removed by traditiona
by coralreef 5y ago
> The fundamental political issue with cryptocurrency is now you've created some amorphous group of oligarchs whose power cannot be really removed by traditional means. It's just a regression.
That's an interesting way of describing open source software, whose existence depends on nodes willingly adopting and agreeing to a set of protocols. I'm guessing its far easier to fork a chain and convince people to join a new network, than it is to overthrow a central bank/government.
- tomComb 5y agoIt's not about the software, it's about the currency and the people who own it.
- coralreef 5y agoBy "own" it, does that mean speculators who have coin in wallets, or the open source maintainers whom have influence, or both? Either way, the only way a coin or chain has value is by people participating in it, whether that's buying, transacting, mining, hosting nodes, or developing. In fact, the system is so open to competition, you can fork a chain and take all its existing data to support your new network. You can't do that with Facebook, Uber, or Paypal.