Topic: Who should have the most weight in the direction Bitcoin is going? (Read 760 times)
September 02, 2015, 08:02:11 AM
I voted merchants because everything depends on them at this time. BTC is worthless if there are no shops to accept it as a payment. Also I didn't want to chose "every bitcoin owner" because that includes people who have 0.001 BTC whuch comes from faucets. Or does that mean people owning at least one full BTC? If that's the case, I've thought of a plan to organize a vote among BTC holders: https://bitcointalksearch.org/topic/we-could-build-a-democracy-out-of-bitcoin-heres-how-1168576
September 02, 2015, 07:55:27 AM
Not the miners. For the love of Satoshi. Not the miners.
I would like to add: Not only the miners!
The miners should have a right to vote but not such a big one.
September 02, 2015, 07:49:19 AM
Not the miners. For the love of Satoshi. Not the miners.
September 02, 2015, 05:00:38 AM
I 'm not able to say who should have the most weight. But I know that we users should have something to say. As far as I know something only has value and is accepted widely when it is used by a vast majority.
So imagine miners and merchants try to push Bitcoin in the direction how it fits in their best interest but we users wouldn't have any benefits. We as the majority of people (the mass) would show our middle finger and not use that system anymore.
What incentives would miners have now to secure the network? How should exchanges work when no one is buying and selling? How merchants wanna make profits if no one is using the coin anymore they accept? Also the wallets would become useless.
We as users have some serious weight! That is my point! So don't fool us! Bitcoin is for everyone!
So imagine miners and merchants try to push Bitcoin in the direction how it fits in their best interest but we users wouldn't have any benefits. We as the majority of people (the mass) would show our middle finger and not use that system anymore.
What incentives would miners have now to secure the network? How should exchanges work when no one is buying and selling? How merchants wanna make profits if no one is using the coin anymore they accept? Also the wallets would become useless.
We as users have some serious weight! That is my point! So don't fool us! Bitcoin is for everyone!
September 02, 2015, 02:35:59 AM
Wow this is a difficult question. The whole Bitcoin system is based on a mutualistic symbiotic relationship, so if any
of these relationships fail, the whole system collapse. To give any of these role players more weight, would disrupt the relationship with the others.
The primary host for the rest to feed from comes from the Bitcoin holders, but without all of the other role-players the system will fail and the host will die. The only problem is, how do you implement something fool proof to give the host more voting power in Bitcoin?
of these relationships fail, the whole system collapse. To give any of these role players more weight, would disrupt the relationship with the others.
The primary host for the rest to feed from comes from the Bitcoin holders, but without all of the other role-players the system will fail and the host will die. The only problem is, how do you implement something fool proof to give the host more voting power in Bitcoin?
September 02, 2015, 01:45:19 AM
If you ignore the customer, your business will fail. {Even if the customer is wrong}
Yes. A majority of the customers wants to lift the block size limit. If the producer fails to deliver, he will be forked/forced out of the game. That's what's happening. Slowly but steady.
September 02, 2015, 01:44:53 AM
I went with Merchants. If they start to accept bitcoin as bitcoin, instead of changing it to fiat, we will see a huge boost in bitcoin price direction.
September 02, 2015, 01:20:07 AM
If we say Bitcoin is for everyone... then they must have a say, or even just a opinion on the matter. {right or wrong} It is the task of the developers to submit a Bip and to explain it's impact to the people.
If Bitcoin was centralized, the "Bitcoin Government" would suggest a change and it would be discussed and then voted on. The majority vote would then decide, if it would be implemented. { In some countries,
where dictators rule... they do not consult, they just force the people to implement the changes} What kind of Bitcoin do we want?
~ 5 People currently have commit access {Do we want them to decide?}
~ Developers submit Bip's but who decide, if it will be used or not?
~ Miners and people hosting full nodes, have a huge weight. {This can be everyone}
~ Merchants / Retail section feed the demand. {Without them, we would trade Bitcoins like stamp collectors}
~ Exchanges {We need them to exchange fiat and other currencies for Bitcoin}
~ Payment processors and Wallet providers. {They are the interface to the consumers}
~ Every Bitcoin owner {Without them, none of the above mentioned services would be needed}
So once again... Who is the most important people in Bitcoin? The Bitcoin owner.... If you ignore the customer, your business will fail. {Even if the customer is wrong}
If Bitcoin was centralized, the "Bitcoin Government" would suggest a change and it would be discussed and then voted on. The majority vote would then decide, if it would be implemented. { In some countries,
where dictators rule... they do not consult, they just force the people to implement the changes} What kind of Bitcoin do we want?
~ 5 People currently have commit access {Do we want them to decide?}
~ Developers submit Bip's but who decide, if it will be used or not?
~ Miners and people hosting full nodes, have a huge weight. {This can be everyone}
~ Merchants / Retail section feed the demand. {Without them, we would trade Bitcoins like stamp collectors}
~ Exchanges {We need them to exchange fiat and other currencies for Bitcoin}
~ Payment processors and Wallet providers. {They are the interface to the consumers}
~ Every Bitcoin owner {Without them, none of the above mentioned services would be needed}
So once again... Who is the most important people in Bitcoin? The Bitcoin owner.... If you ignore the customer, your business will fail. {Even if the customer is wrong}
September 02, 2015, 01:19:36 AM
i'm with merchants and miners at the end, they are the most important and the one that dictate, merchants even more because they are responsabile for the future of bitcoin and its adoption on large scale
between those who are running a full node, only a few can be seen as a qualified as a good weight
between those who are running a full node, only a few can be seen as a qualified as a good weight
September 02, 2015, 12:17:14 AM
in my opinion since bitcoin is a decentralized currency and no one person or a group owns it, then every person who owns bitcoin should have a say in the direction in which bitcoin should go.
but on the other hand i can understand why gavin said: "normal Bitcoin users, should not have a lot of say in the direction Bitcoin is going. He says most of these people are trolls".
i see two problems here:
1. not every person that owns bitcoin, understands how it works and many of them don't care. so their opinion on the matter would be worthless because of the lack of knowledge.
2. since bitcoin is anonymous, if there were some sort of voting with for example bitcoin address that you own, you could create thousands of addresses and vote, so there needs to be a minimum amount of bitcoin which then can lead to whales have a bigger say in the matter.
but on the other hand i can understand why gavin said: "normal Bitcoin users, should not have a lot of say in the direction Bitcoin is going. He says most of these people are trolls".
i see two problems here:
1. not every person that owns bitcoin, understands how it works and many of them don't care. so their opinion on the matter would be worthless because of the lack of knowledge.
2. since bitcoin is anonymous, if there were some sort of voting with for example bitcoin address that you own, you could create thousands of addresses and vote, so there needs to be a minimum amount of bitcoin which then can lead to whales have a bigger say in the matter.
September 02, 2015, 12:01:25 AM
This is a trick question. The core mechanism behind Bitcoin is the consensus of miners and full nodes. You can't have Bitcoin without it. For that reason alone, miners and full nodes should have all the weight.
Now, if Bitcoin used Proof of Stake, then it would be proper for the owners to have all the weight. However, some people would object because that would mean the whales have the most weight.
There is no reason why exchanges, or developers, or any other group should have any special weight. There is nothing special about them, but more importantly there is no way to give them the weight.
Now, if Bitcoin used Proof of Stake, then it would be proper for the owners to have all the weight. However, some people would object because that would mean the whales have the most weight.
There is no reason why exchanges, or developers, or any other group should have any special weight. There is nothing special about them, but more importantly there is no way to give them the weight.
Try to give value to a coin with no infrastructures (AKA exchanges, payment processors and all). They have a weight in the decision making. More than you and me.
September 01, 2015, 11:58:05 PM
This is a trick question. The core mechanism behind Bitcoin is the consensus of miners and full nodes. You can't have Bitcoin without it. For that reason alone, miners and full nodes must have all the weight.
Now, if Bitcoin used Proof of Stake, then it would be proper for the owners to have all the weight. However, some people would object because that would mean the whales would have the most weight.
There is no reason why exchanges, merchants, or developers, or any other group should have any special weight. There is nothing special about them, but more importantly there is no way to give them the weight.
Now, if Bitcoin used Proof of Stake, then it would be proper for the owners to have all the weight. However, some people would object because that would mean the whales would have the most weight.
There is no reason why exchanges, merchants, or developers, or any other group should have any special weight. There is nothing special about them, but more importantly there is no way to give them the weight.
September 01, 2015, 04:11:26 PM
Exchanges (including all major bitcoin finance industry) + miners. As long as they don't mess with the core principles, when they come to an agreement everyone will follow.
This is a bad option IMO, Exchanges and miners will adjust bitcoin in that way that it will only benefit them. Only the bitcoin owners should benefit from bitcoin.
September 01, 2015, 04:03:50 PM
Going by the standard of comments on the popular forums, I'm not so sure the average Bitcoin owner is qualified to tie up their own shoelaces. There are of course many honourable exceptions.
September 01, 2015, 04:00:58 PM
Exchanges (including all major bitcoin finance industry) + miners. As long as they don't mess with the core principles, when they come to an agreement everyone will follow.
This seems about right. There are about 50 major players in the industry at the moment (exchanges, payment processors, miners) and not even these 50 cannot reach a consensus, together with the lead devs of course. Can we all imagine what mess would we have if every stakeholder would be deciding with their share. Well, we would probably never manage to decide upon anything, even the slightest things!
September 01, 2015, 03:57:20 PM
THE BITCOIN HOLDERS!!!!!!!
September 01, 2015, 03:47:04 PM
Exchanges (including all major bitcoin finance industry) + miners. As long as they don't mess with the core principles, when they come to an agreement everyone will follow.
September 01, 2015, 03:43:50 PM
The ones who own bitcoin should decide its fate. Developers obviously can't be trusted since most of them can be bought out with a check.
September 01, 2015, 12:37:17 PM
Who in your opinion should have the most say in the direction Bitcoin should be going? I just watched this video --> https://www.youtube.com/watch?v=B8l11q9hsJM where
Gavin Andresen effectively says normal Bitcoin users, should not have a lot of say in the direction Bitcoin is going. He says most of these people are trolls and he sees them as
noise. Do you think the amount of Bitcoin you own, should entitle you to have a bigger say in what should change and what not?
Please participate in the poll and say what you think about this. To be biased, I think he meant... normal Bitcoin users are not technical inclined to make such big decisions and
should have a smaller role in the development of Bitcoin, but should their opinion on the matter be swept under the carpet or do they have a voice?
Should Bitcoin ownership and the amount you own, give you the right to have a bigger say? { In reality ...if you relate it to shares ... If you have more that 50% shares in a
company, you pretty much have a say in the business or the company you invested in}
It will be interresting to know what you think... please share your views....
Why some people might support a specific side, might be a bit controversial ... http://qntra.net/2015/08/bip-101-syndicate-shares-fiat-ties-opposition-to-actual-bitcoin/
Gavin Andresen effectively says normal Bitcoin users, should not have a lot of say in the direction Bitcoin is going. He says most of these people are trolls and he sees them as
noise. Do you think the amount of Bitcoin you own, should entitle you to have a bigger say in what should change and what not?
Please participate in the poll and say what you think about this. To be biased, I think he meant... normal Bitcoin users are not technical inclined to make such big decisions and
should have a smaller role in the development of Bitcoin, but should their opinion on the matter be swept under the carpet or do they have a voice?
Should Bitcoin ownership and the amount you own, give you the right to have a bigger say? { In reality ...if you relate it to shares ... If you have more that 50% shares in a
company, you pretty much have a say in the business or the company you invested in}
It will be interresting to know what you think... please share your views....
Why some people might support a specific side, might be a bit controversial ... http://qntra.net/2015/08/bip-101-syndicate-shares-fiat-ties-opposition-to-actual-bitcoin/
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