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I wish Mike Hearn would rejoin the crypto world, in the Ethereum space. Ultimately his enormous contributuons to Bitcoin were mostly wasted by Bitcoin's leader
by CryptoPunk 5y ago
I wish Mike Hearn would rejoin the crypto world, in the Ethereum space.
Ultimately his enormous contributuons to Bitcoin were mostly wasted by Bitcoin's leadership, when they prevented Bitcoin from achieving mass-adoption, but his talents would not be wasted on Ethereum, which already has a clear path to massive scalability and a pro-adoption leadership.
- brightstep 5y agoWhat does "leadership" mean here? I thought these systems were supposed to be decentralized and trustless?
- CryptoPunk 5y agoThey're supposed to eventually become leaderless, but they're not for the time being, especially as it relates to protocol evolution.
- brightstep 5y agoWhat incentive do leaders have to give up authority?
- CryptoPunk 5y agoIt depends on the project and leader. Some leaders are incentivized by altruism, others by their large stake in the token supply, which could appreciate when the protocol becomes more decentralized/immutable. Some by the inertia and social pressure of community expectations, derived from long-published and widely discussed roadmaps. Some do not have an incentive to design themselves out of leadership positions.