Author: Tier Nolan 2015-08-04 10:22:28
Published on: 2015-08-04T10:22:28+00:00
The email thread discusses various voting systems to be implemented in the Bitcoin development process. The Single Transferable Vote system is proposed where voters rank their preference with “1”, “2”, “3”, etc. The candidate with fewest votes is eliminated and those votes are transferred according to their second choice until only one candidate is left. However, Instant Runoff Voting is not considered a good system for finding a consensus of the voters as it squeezes out center opinions leaving only extreme options remaining. Approval and Range voting are suggested as better systems for achieving a consensus. Approval voting allows each voter to indicate which of the proposals is approved/accepted and the option with the most support wins. If one option has 80% support and another has 90% support, then both make a good choice (though the 90% one has won). Range voting allows more accuracy if voters are honest. The miners can also choose what the size is subject to limits which they could do unilaterally.The outcome of voting may not necessarily be a binding decision but voters need to recognize that failing to find a middle ground could mean they get their way but they split the community. In addition, since the point is to determine parameters, there is no need to select from discrete candidates like initial new size, rate of increase, and maximum size. They are just numbers and votes could indicate what they want, and then use the median as the consensus option.
Updated on: 2023-06-10T18:15:15.574297+00:00