Author: digitsu at gmail.com 2015-11-14 00:02:01
Published on: 2015-11-14T00:02:01+00:00
The Bitcoin economy is a complex system where every part interacts with each other in ways more complex than imperative logic. The economic majority is essentially what matters in a hard fork, but everyone - miners, devs, public thought leaders, and businesses - is part of that economy. The preliminary vote polling results affect the final vote, and we can see the effects of this in the whole XT affair. This experiment either means that the rest of the miners couldn't be bothered to signal at all or they were affected by the influence of core devs or the opinions of others on the matter and rejected the economic majority. At the very least, miners matter, and although there is no direct control of any party over the other in the strict sense, the public vocal opinions of any part of the Bitcoin economy does have an effect in its ability to sway the opinions of the other parts. Devs have even less of a choice in the matter as the economy determines who people want to spend their bitcoins with. A flag day is the best option that gets called off if there isn't clear consensus.
Updated on: 2023-06-11T01:04:54.580466+00:00