>Bitcoin Cash, Bitcoin Gold, Bitcoin Satoshi Vision. Take off the rose-coloured glasses, "your community" isn't sunshine and roses either.
I think this is unfair. These are splinter communities. It's like critiquing Ethereum's community by pointing at Ethereum Classic and Binance Smart Chain.
>Personally, I think PoW may be what brings Bitcoin down in the long-term.
I pretty much agree with this part. I think it'll probably cause very serious issues for it over the next decade. I predict they'll actually eventually move off of PoW or drastically alter the PoW algorithm, but only after many years of infighting and stubborn refusal to consider the possibility.
> It's like critiquing Ethereum's community by pointing at Ethereum Classic
That's exactly what the article did.
Don't get me wrong; I think the article is very unfair and awful in many ways. I just thought that particular counter-argument wasn't valid. I think their point about ETC can't really be compared to the Bitcoin community splinters, since the point is about the DAO hack rollback. The block size debates were very controversial and heated, but not to the degree of the DAO hack incident.
Ethereum is the cryptocurrency I personally like the most, but I do find supporters tend to downplay just how controversial that incident was.
My understanding of the changing of the rules "as you go" is that it's based on the reality being faced by the system. Bitcoin's proof-of-work is simultaneously one of it's strengths and one of its weaknesses, and Ethereum has chosen to move from PoW to PoS because of the belief that it's the right path to follow in attempting to solve the problems the system is facing in reality.
I don't think the "working class" vs. "ruling class" analogy is particularly fitting. However, to continue the analogy, the profitability of Ethereum mining (from what I've heard) would have allowed pretty much all of the early "working class" to have climbed the social ladder to "ruling class" if they held onto some percentage of their earnings (you know, like "savings" or "investments" in this real-world analogy). If the "working class" believed in the longevity of the project they've chosen to work for, wouldn't they see the investment opportunity? Otherwise they're just there for the immediate profit, and there's no long-term contract or agreement that's been broken. The system is evolving, like what happens in the real world.
> As a Bitcoiner... > We wouldn’t dare... > We would never... > doesn’t have a ruling class to take advantage of other classes
Bitcoin Cash, Bitcoin Gold, Bitcoin Satoshi Vision. Take off the rose-coloured glasses, "your community" isn't sunshine and roses either.
Personally, I think PoW may be what brings Bitcoin down in the long-term.