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Bitcoin really is defined by its principles. A fork that violates its principles (say, changing the 21M cap or violating the transaction history which hashes ba
by javert 5y ago
Bitcoin really is defined by its principles. A fork that violates its principles (say, changing the 21M cap or violating the transaction history which hashes back to the genesis block) wouldn't be bitcoin, just like no amount of people believing the earth is flat would make it flat.
- beaconstudios 5y agoso by "principled" you just mean "has algorithmic constraints?" that's not what most people mean by principled. Also, in that sense, crypto also has principles in that most altcoins are built on ethereum, which also has algorithmic constraints.
- javert 5y agoBitcoin has principles the way most people mean the term. Ethereum does not. I've already given examples that make it clear. Ethereum's algorithmic constraints are merely algorithmic constraints that can be changed easily, whereas bitcoin's key algorithmic constraints also are actually principles; changing them results in a non-bitcoin fork.