Author: Eric Voskuil 2015-08-25 21:28:11
Published on: 2015-08-25T21:28:11+00:00
Bitcoin is not a democracy. The proposal to vote on what goes into a particular Github repository is ultimately controlled by those with the control of that repository. Bitcoin is an anarchy by design, and people will use whatever they want. While stakeholders could be allowed to vote on the determination of the max block-size limit, it is likely to result in very low-quality results and drastically low participation, similar to rational ignorance. The default mechanism for change would be forking off altcoins and allowing the market to decide which coin is most valuable.
Updated on: 2023-06-10T21:04:26.978978+00:00