At some point, we should just have a fork and be done with it. Too much of uncertainty is not good for the system.
Let the market decide and may the best coin win.
Topic: [2017-04-01]Who Should Decide For Bitcoin: True Decentralization Need Not Be Abs (Read 247 times)
April 01, 2017, 06:56:40 AM
April 01, 2017, 02:19:23 AM
Who Should Decide For Bitcoin: True Decentralization Need Not Be Absolute
The current Bitcoin scaling conflict boils down not only to technology but also to money, politics and the understanding of democracy in the crypto community. Both factions are claiming that the other one is trying to prevent Bitcoin’s growth or take it under control. There are also theories abound that insist the opposite side is waging an information war, secretly funded by big money (Blockstream for SegWit and Roger Ver for BU).
The understanding of democracy is also very important. We wrote how a fork of Dash, PIVX, have embarked on a project that they claim will achieve absolute decentralization within the DLT community. They believe that Satoshi’s original intention was a community where millions of individuals would be mining away on their GPUs, thereby suggesting how to achieve an absolutely democratic community.
Who decides for Bitcoin
In the various DLT (Distributed Ledger Technology) communities currently in existence, power and control appear to have become partially centralized. This is evident by the existence of massive mining farms in the Bitcoin Blockchain technology and the systems of masternode acquisition in other communities like Dash.
The power to vote on any new development within these communities, therefore, is determined by the extent of hashing power or masternodes controlled by members of the communities. This implies that the decisions of the few miners happen to override whatever the larger population may want within the community.
Hesham Rehman of Bitxoxo says:
Some communities and big mining pools are trying to control Bitcoin but I think they will fail.”]“Some communities and big mining pools are trying to control Bitcoin but I think they will fail.
He explains: “Though I would refer to Bitcoin as a technology rather than just a currency, like every technology needs some upgrade from time to time, Bitcoin Core would also need some upgrade. Like in previous days we saw BTU fork. But I think that the change in Bitcoin technology should take place considering the opinions of the global Bitcoin community rather than imposition by a group of people.”
Full Read Here: https://cointelegraph.com/news/who-should-decide-for-bitcoin-true-decentralization-need-not-be-absolute
The current Bitcoin scaling conflict boils down not only to technology but also to money, politics and the understanding of democracy in the crypto community. Both factions are claiming that the other one is trying to prevent Bitcoin’s growth or take it under control. There are also theories abound that insist the opposite side is waging an information war, secretly funded by big money (Blockstream for SegWit and Roger Ver for BU).
The understanding of democracy is also very important. We wrote how a fork of Dash, PIVX, have embarked on a project that they claim will achieve absolute decentralization within the DLT community. They believe that Satoshi’s original intention was a community where millions of individuals would be mining away on their GPUs, thereby suggesting how to achieve an absolutely democratic community.
Who decides for Bitcoin
In the various DLT (Distributed Ledger Technology) communities currently in existence, power and control appear to have become partially centralized. This is evident by the existence of massive mining farms in the Bitcoin Blockchain technology and the systems of masternode acquisition in other communities like Dash.
The power to vote on any new development within these communities, therefore, is determined by the extent of hashing power or masternodes controlled by members of the communities. This implies that the decisions of the few miners happen to override whatever the larger population may want within the community.
Hesham Rehman of Bitxoxo says:
Some communities and big mining pools are trying to control Bitcoin but I think they will fail.”]“Some communities and big mining pools are trying to control Bitcoin but I think they will fail.
He explains: “Though I would refer to Bitcoin as a technology rather than just a currency, like every technology needs some upgrade from time to time, Bitcoin Core would also need some upgrade. Like in previous days we saw BTU fork. But I think that the change in Bitcoin technology should take place considering the opinions of the global Bitcoin community rather than imposition by a group of people.”
Full Read Here: https://cointelegraph.com/news/who-should-decide-for-bitcoin-true-decentralization-need-not-be-absolute
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