Author: Ivan Brightly 2015-06-28 16:01:31
Published on: 2015-06-28T16:01:31+00:00
In a discussion about whether or not the majority has the right to dictate on the minority in Bitcoin, Ivan Brightly argued that Bitcoin doesn't provide any 'rights' on individuals, only the choice of participating or not. Jorge Timón disagreed, stating that the majority has no right to dictate on the minority. However, another participant in the conversation argued that rights are not a pillar of how Bitcoin works, but rather it's a matter of aligned incentives. The fact is that the majority technically can dictate through PoW and acceptance, but they would not choose this path because there is greater economic value in consensus. If Bitcoin were about "doing the right thing," there wouldn't be a need for PoW since no individual would be incentivized to double spend.
Updated on: 2023-06-10T01:13:46.368283+00:00