Re:The Schism Over Bitcoin Is How Bitcoin Is Supposed to Work
by maaku on Friday February 12, 2016 @02:15PM
(#11089683)
> Core/blockstream's position is not consistent and logical.
Please don't conflate Bitcoin Core and Blockstream.
> Should users be able to make decisions? Should core developers be able to over-ride those decisions? Bitcoin is a system with majority decision making.
Bitcoin is not a majority-rule system. The only point in which a majority rule applies is a tie-breaking strategy for resolving valid ledger branching. And that vote doesn't enfranchise users!
Bitcoin is a system that explicitly rejects majority rule. It replaces user determination with fixed, inflexible machine arbitration. It is from this fact that Bitcoin is not a democracy that it derives all of its user-protecting properties like irrevocable payments and inflationary protections.
> Making Side-chains the major cornerstone of the Bitcoin ecosystem will turn out to be a mistake. Side-chains don't make much sense if you understand incentives and risk. The same applies to Lightning which will equally be a failure.
You are welcome to your own opinions. Thankfully your permission is not required to new, innovative use of scripting features that were built into bitcoin from day 1.
Please don't conflate Bitcoin Core and Blockstream.
> Should users be able to make decisions? Should core developers be able to over-ride those decisions? Bitcoin is a system with majority decision making.
Bitcoin is not a majority-rule system. The only point in which a majority rule applies is a tie-breaking strategy for resolving valid ledger branching. And that vote doesn't enfranchise users!
Bitcoin is a system that explicitly rejects majority rule. It replaces user determination with fixed, inflexible machine arbitration. It is from this fact that Bitcoin is not a democracy that it derives all of its user-protecting properties like irrevocable payments and inflationary protections.
> Making Side-chains the major cornerstone of the Bitcoin ecosystem will turn out to be a mistake. Side-chains don't make much sense if you understand incentives and risk. The same applies to Lightning which will equally be a failure.
You are welcome to your own opinions. Thankfully your permission is not required to new, innovative use of scripting features that were built into bitcoin from day 1.