top | item 29242529

(no title)

starclerk | 4 years ago

> but only if we all agree.

"we all" in this case refers to the top single-digit percent of holders [1]. It's no small feat to get consensus there! But it's also not very decentralized/democratized and sounds a lot like our existing financial (or societal) systems.

[1] https://news.bitcoin.com/analysis-shows-bitcoin-whales-are-s... -- which optimistically states that only 71% of BTC is held by the top 2%.

discuss

order

tenuousemphasis|4 years ago

That is false. If some small subset of Bitcoin users wanted to or were coerced to change the rules, all they would do is fork themselves into their own copy of the Blockchain. Everyone else would continue using it as they had been previously.