The Fight For Bitcoin, Round One

”Everybody trying to PvP when the game is PvE.”Edward Snowden

The revolution will not be centralized. The ideal peaceful revolution that Bitcoin could be will not enable solely one class, one ideology or one political party to replace themselves as the new king of the hill. If Bitcoin’s social consensus is commandeered by one homogeneous group, the necessary ideal of decentralization has failed.

Bitcoin’s governance is upheld by both social and economic nodes, and this political structure is very far from the traditional democracy often misrepresented by both the many critics and proponents of Bitcoin alike. Bitcoin is not a democracy in which every node is an equal vote, and that is for good reason in the ever-unfolding socio-economic game theory presented by the protocol; those with skin in the game, in the form of network wealth in satoshis as well as Bitcoin-specific hardware such as ASICs, have more incentives to ossify and protect the economic policy of the Bitcoin network than a nocoiner or someone relatively new to the system.

Source link

By admin

Leave a Reply

Your email address will not be published. Required fields are marked *