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Bitcoin has no formal governance system, on chain or off chain. Could you be more specific? Unless you're talking about blocks/hashing power. But that's consen

• epistasis 5y ago
  No formal governance does not mean no governance. It just means obscured governance with more hidden power structures. If people haven't read it, I highly recommend reading The Tyranny of Structurelessness, even if the political context of its writing is uninteresting to you, because the lessons are deep: https://en.m.wikipedia.org/wiki/The_Tyranny_of_Structurelessness https://en.m.wikipedia.org/wiki/The_Tyranny_of_Structureless... And if course, there's value in the critiques of it too. Libertarians can learn a lot from anarchists attempts at building social structures that don't have rulers.
  • tboyd47 5y ago
    Bitcoin does not have "structurelessness." It has a clear structure. A better word for what it has is "tensegrity."
• shyish 5y ago
  I believe that he is referring more broadly to forms of governance in DAOs (though I believe they're all on turing complete chains). For example, OpenZeppelin provides some quickstart governance contracts[1] that are all coin-based voting systems. There are some simple ways around this, like to make voting power proportional to the square root of token ownership but obviously one address != one human voter. Vitalik wrote about some alternatives[2] on his blog, such as proof of humanity, proof or participation or staking based solutions primarily but most significant projects are still using coin-voting. [1]: https://docs.openzeppelin.com/contracts/4.x/governance https://docs.openzeppelin.com/contracts/4.x/governance [2]: https://vitalik.ca/general/2021/08/16/voting3.html https://vitalik.ca/general/2021/08/16/voting3.html