The Checks and Balances of Bitcoin Governance
Although scalability (the block size limit) has been the main topic of conversation in the Bitcoin community over the past year, this controversy has also brought up another important subject for the peer-to-peer digital cash system: governance. Bitcoin Core Contributor Peter Todd is no fan of Bitcoin XT, but he does like the fact that Mike Hearn’s alternative implementation of the Bitcoin protocol brought the topic of governance to a wider audience.
So how does Bitcoin governance work? Blockchain Capital Managing Partner Brock Pierce was recently asked this question by Jason Calacanis on This Week in Startups, and he described the checks and balances that exist between different participants in the Bitcoin ecosystem.
https://bitcoinmagazine.com/articles/the-checks-and-balances-of-bitcoin-governance-1454695089
