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Re:Bitcoin faces a crossroads, needs an effective decision-m... by wmf on Monday May 11, 2015 @02:54PM (#9527022)
I thought the spirit of Bitcoin is that it is governed only by algorithms. If Bitcoin needs massive proof of work and human governance, that reduces its value significantly IMO.
Re:Bitcoin faces a crossroads, needs an effective decision-m... by socrates1024 on Monday May 11, 2015 @03:01PM (#9527075)
Well, that has never been the case. The algorithm of the network is defined by the most widely used implementations, which so far has continued to be Bitcoin Core. Bitcoin Core is maintained by a group of humans, who use some form of decision making process (whether it be implicit or explicit). The more effective that decision making process is, the more reliable and durable the system will be.
Re:Bitcoin faces a crossroads, needs an effective decision-m... by nemild on Monday May 11, 2015 @03:04PM (#9527107)
Doesn't every open source project have governance in some form - be it implicit or explicit?

In the extreme case where code is written that never needs to be updated (which is hard given the changes needed for scalability and security, never mind additional functionality) - then maybe you might not need a governance structure.

The post highlights is that governance always exists - the question is how formal or informal it is, and what that means about the decision making process and its performance (e.g., speed of decisions, whether it reflects key stakeholders).

Re:Bitcoin faces a crossroads, needs an effective decision-m... by sowbug on Monday May 11, 2015 @03:01PM (#9527074)
Humans still write the algorithms and deploy the binaries.