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Well, for the sake of theory, it's a good thing to think about what the most powerful person in the bitcoin ecosystem could do bad. But please, don't stop here
by oelmekki 12y ago
Well, for the sake of theory, it's a good thing to think about what the most powerful person in the bitcoin ecosystem could do bad.
But please, don't stop here. What the most powerful political leader in your country could do bad ? What the most powerful economical leader in your country could do bad ?
"Power" as a concept is something that would need deeper inspection by everyone, and should probably be dissolved as much as possible (that's the point of democracy). If 51% attack scares you, push your reasoning to its ultimate point.
- krapp 12y agoI don't believe democracy is about decentralizing power, so much as decentralizing the means of potentially taking and exploiting power. Or maybe only in practice, versus theory. That seems to be one of the fundamental paradoxes in the anarchistic ideal of Bitcoin - that implicitly, collective action to centralize and exploit the system is a perfectly legitimate act within its framework, if you can get away with it.
- mpyne 12y ago> That seems to be one of the fundamental paradoxes in the anarchistic ideal of Bitcoin - that implicitly, collective action to centralize and exploit the system is a perfectly legitimate act within its framework, if you can get away with it. I'd say it's more a libertarian ideal. You'd have the same idea in an actual anarchy of course, except that rolling up all the communes by force wouldn't be considered legitimate just because you're able to do it.