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I think the fundamental appeal of Bitcoin is the lack of ability to change the protocol based on any external factors at all. Otherwise it's just fiat all over

• notpushkin 2y ago
  But you can change the protocol – you just need to convince people to use your version, i.e. make a softfork. https://en.bitcoin.it/wiki/Softfork https://en.bitcoin.it/wiki/Softfork (Or a hardfork, if your changes have to apply to all transactions, though this would be extremely tricky.)
  • j16sdiz 2y ago
    and update the hardware wallets if needed
• geysersam 2y ago
  Of course the protocol can change if a large majority of miners agree to the change. It's just a question about updating the source code. The fundamental appeal of bitcoin is the lack of ability to change the protocol without buy-in from a sufficient fraction of the community.
• wruza 2y ago
  What it really is is basically a consensus between participants. Once the consensus about a change gains critical mass, that change just happens, by someone coding it into the software and people updating to it. The change (fork) becomes mainstream and the old version becomes fringe. And vice versa, if consensus never achieved. There will be people who stay on old version anyway. It’s up to who believes in what, based on available software based on ideas that are worth new code.