Author: Ivan Brightly 2015-06-28 14:22:26
Published on: 2015-06-28T14:22:26+00:00
The discussion on the Bitcoin-dev mailing list revolves around the question of whether the majority has the right to dictate on the minority. It is pointed out that Bitcoin doesn't provide any inherent rights to individuals but only offers the choice of participating or not. From a technical perspective, the majority can impose their will if they calculate that the reward for doing so is greater than the value lost in the disruption caused. However, the longest chain with the greatest number of users valuing the token on that chain "wins". The means by which conflicts are resolved set a precedent for future disagreements. The technical rules allow for a majority to dictate while economic interests may or may not support such a change. There are no inherent rights built into Bitcoin, just aligned economic interests enforced by agreed upon technical rules.
Updated on: 2023-06-10T01:10:43.514646+00:00