Author: Mark Friedenbach 2015-06-26 19:12:00
Published on: 2015-06-26T19:12:00+00:00
The context discusses a hard fork in Bitcoin, which is not related to miners but rather about making a coercive change to the decentralized nature of the currency without unanimous consent. The consensus needed for a hard fork to be safe requires a clear and self-evident course of action, and safety increases with more lead-in time. Updating the reference client so that the hard fork occurs in two years would be safer since miners would have time to update. However, if miners or the community objected, it could result in a game of chicken. The problem with not making decisions in advance is that the resulting hard fork is inherently safer.
Updated on: 2023-06-10T01:06:19.201326+00:00