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A comment on Bitfinex just spent $23.7M in fees to make a single Ethereum transaction. Parent comment

Re:Bitfinex just spent $23.7M in fees to make a single Ether... by sgarman on Monday September 27, 2021 @06:21PM (#28676789)
I'm not defending anything here but adding context. It wasn't JUST the "code maintainers." They made a proposal and all of the nodes "voted" by opting in or out. A lot of them opted out (Eth Classic) but majority usually wins in these situations. Did certain entities have more influence or power in this situation, yes 100%. Is that better or worse then how it would play out in standard US finance system? I'm not sure, you decide.
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Re:Bitfinex just spent $23.7M in fees to make a single Ether... by davidcbc on Monday September 27, 2021 @08:37PM (#28677944)
USD doesn’t split into two different competing currencies when a transaction has to be reversed, so I think the ethereum solution is clearly worse.
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Re:Bitfinex just spent $23.7M in fees to make a single Ether... by PretzelPirate on Monday September 27, 2021 @11:41PM (#28679069)
You can roll back Ethereum transactions without forking the blockchain if you build the rollback mechanism into your settlement contract.

There isn’t anything to “fork” in USD since it isn’t a blockchain, but different USD settlement layers get out of sync and have to be manually reconciled. If you instead tried to “fork”/replicate USD in that situation, you’d probably be thrown in jail for life. I personally prefer the blockchain way of expressing my option through code and seeing if anyone wants to follow me and not having to ask for permission.

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