That actually confirms the decentralised nature of it. Nobody in particular can choose to roll back, that has to be reached through a democratic decision built through a decentralised consensus. It's the very definition of decentralisation. What you are talking about is Laissez-Faire politics, where you just don't care about stopping the thief.
I don't necessarily support rollbacks. But as we've gone over many times in this thread, a group of miners/forgers deciding on what chain to continue on is clearly decentralised. Just because you don't like an idea doesn't mean you can just apply an erroneous label to it.
well in your understanding
centralized=decision of one person or maybe a few of persons
decentralized= decision of many people, majority wins
in my understanding
decentralized= individual decision of each and every person about their own property within the limit of given rules (code)
centralized= anybody (be it one person or many persons) can make arbitrary decisions about anybody elses's property
the whole purpose of Bitcoin or any other decent crypto as a technical solution is to guarantee that nobody can make arbitrary decisions about anybody else's property. This is why I am ready to call them decentralized solutions. Everybody has to follow the same rules. Majority of hashing power is used as a best way to prevent attacks, best incentive to stick to the code. But in your undestanding one specific majority can make arbitrary decisions.
whatever the result of the vote, I have serious misgivings about cryptocurrencies - just an existence of such a vote is bad
This is from another thread. This guy explained it much better than I could.
These people above talking about ideals being flawed have nothing to do with anything. If you compare keeping the integrity of the blockchain, and refusing to basically make a new coin called Nxt2 that really didn't recognize that a theft happened, to living in some lawless place in the middle east and Africa, then log off and go back to the security of your credit cards and paypal.
Luckily for Nxt the forgers didn't agree with your "backwards lets make a new Nxt that doesn't reflect TRUE history, that EVERYONE knows happened" completely insane plan. Or I'm sorry what was it called "community intervention" lol smh PASS!!!!!!
The fact that it is even possible is very damaging to Nxt.
IT IS VERY GOOD that soon it will take 90% to make such a drastic error, which basically means Nxt is in the clear because that will never happen.
Nxt passed a very big test today, and showed the world that it is THE REAL DEAL!!
Great job guys!!!!
