Re:What did Bitcoin Core contributors ever do for us?
by ericb on Sunday July 23, 2017 @03:52PM
(#14834046)
Take a look at Tezos when it comes out. It tries to solve the governance problem with built-in governance and a system for promotion based on the will of the stakeholders.
Re:What did Bitcoin Core contributors ever do for us?
by icebraining on Sunday July 23, 2017 @03:22PM
(#14833910)
It's not, though; the developers can write the code, but they can't force people to upgrade.
Re:What did Bitcoin Core contributors ever do for us?
by wmf on Sunday July 23, 2017 @04:09PM
(#14834129)
They can withhold features that people want by refusing to code them, which is what one of the controversies is about.
Re:What did Bitcoin Core contributors ever do for us?
by vertex-four on Sunday July 23, 2017 @04:52PM
(#14834323)
But other people can code them, and people as a whole can choose what software they want to run?
Re:What did Bitcoin Core contributors ever do for us?
by twblalock on Sunday July 23, 2017 @04:24PM
(#14834206)
If some large exchanges upgrade, and some don't, the consequences are similar to those of a code fork. Suddenly the currency becomes split into two different currencies.
Re:What did Bitcoin Core contributors ever do for us?
by omarchowdhury on Sunday July 23, 2017 @07:46PM
(#14834978)
Fiat currencies are not under democratic governance. Central banks control them, and you cannot cast a ballot on what your central bank should do.
This really gets at the heart of my dislike for cryptocurrency -- most proponents believe it's supposed to be decentralized and free from the control of government, but it's actually centralized under the control of a small group of unelected programmers (who seem to misunderstand how human societies, currencies, and contracts actually work), and there is no recourse when they make bad decisions except to fork the blockchain and the code. It's really a step backwards in terms of governance compared to, say, fiat currency with democratic governance. This applies to most cryptocurrencies I've seen, not just bitcoin.