Bitcoin Forum

I rarely create new threads with little substance, but I had to mention this.


When countering the 'energy usage' argument with someone that does not know about the specifics of Bitcoin I attempted to describe the importance of PoW.


I said one of the major premise of Bitcoin is that PoW provides a relatively predictable way to defend against a majority group or entity that would take control of Bitcoin.


I did a mental double take on the associations of that statement.  And that was:


Representative Democracy.  The grand bargain.


Does Bitcoin share in the spirit of the fundamentals in which the US was created?  (this is not a libertarian plug.  Just an observation)


Maybe this is the start of a bona fide money revolution?  Bitcoin spangled banner, anyone?

sshhhhhh, don't let the other people know!

Yes indeed it is the spirit the US was founded under.

THAT THE LANDED ELITE WOULD BE THE ONLY ONES ENFRANCHISED!

Simple answer ... no.

Miners can't change the rules of the system.  They can only validate or ignore transactions.  Bitcoin requires a consensus at all times.  Miner's can't choose the potential choices they can only force the network to a consensus on the status of coin ownership between existing choices (created by coin owners).  There is almost no connection to a democracy.  If Bitcoin was a democracy it likely would have failed already.

Philosophically, that used to be true at the beginning.
Right now all of the proof-of-work effort has much less effect than you imagine.
Shhhhh! Don't tell anyone! They'll be very disappointed!