Forbes : the Biggest threat to Bitcoin is Gavin

[the founder]

 In the wake of last month’s fork, the elites in the Bitcoin community effectively changed the rules in a matter of hours. In principle, there’s no reason those same elites couldn’t make other changes to the Bitcoin protocol.

http://www.forbes.com/sites/timothylee/2013/04/07/four-reasons-bitcoin-is-worth-studying/


Edit:


I think the author is a tool.   I just felt everyone should know the FUD being spread.

This is the only reason I posted it.

I met Gavin in NYC bitcoin conference .  At the time I owned flexcoin.  I believe he's a good guy.

[TraderTimm]

Do you write for the guardian in the UK? I know an author who writes baseless tripe you'd like.

[Melbustus]

Do you write for the guardian in the UK? I know an author who writes baseless tripe you'd like.

If you're referring to Heidi Moore, yeah, my god... She's horrible. I got into a lengthy twitter fight with her over her last article.


And OP, regarding your post, the way the fork was resolved indicates bitcoin's STRENGTH, not weakness. The community came together and rapidly resolved a technical issue. Their incentives were beautifully aligned to act together in the interest's of bitcoin as a whole. And go read the IRC logs; Gavin was one voice among many. I, for one, am more bullish on the long-term future of bitcoin after the fork.

[jacky4566]

In principle, there’s no reason those same elites couldn’t make other changes to the Bitcoin protocol.

There is a reason. Us the users would reject the changes and refuse to use the new protocol. Just don't update to that client?
Unless they were planning it all along and made the changes so small we wouldn't notice.

[Gabi]

Look, someone who know nothing about bitcoin wrote an article about bitcoin. And failed, hard.

[cypherdoc]

Look, someone who know nothing about bitcoin wrote an article about bitcoin. And failed, hard.

Timothy Lee actually wrote a decent article.

it's the OP that has failed hard.

[Mike Christ]

If those same elites made changes to the Bitcoin protocol, you have every option to not use those changes (which would undoubtedly create a hard-fork.)  Their only option is to make these changes, without ever telling you about them, and somehow keeping our current BTC devs quiet (either through unlawful imprisonment or lots of money, the latter of which may not work.)

IF the elites attempted to force a "tax-enabling" client, just don't use it.  You will be a-okay.

[Gavin Andresen]

I think the big difference between the "bitcoin elites" and the existing financial system elites is the "bitcoin elites" are working really hard to distribute our power.

We're getting there, but it will take time. I really hope in a year or two there will be at least three or four different bitcoin implementations all producing blocks, validating transactions, etc. And in ten years there will be a dozen or more.

That is a natural progression; I was around when NCSA Mosaic was the one web browser and the NCSA server was the only web server, and there have been a couple cycles of certain browsers / web servers becoming dominant and then fading. I expect to see a similar evolution for Bitcoin infrastructure software.

[the founder]

I think the author is a tool.   I just felt everyone should know the FUD being spread.

This is the only reason I posted it.

I met Gavin in NYC bitcoin conference .  At the time I owned flexcoin.  I believe he's a good guy.

[cypherdoc]

I think the author is a tool.   I just felt everyone should know the FUD being spread.

I met Gavin in NYC bitcoin conference .  At the time I owned flexcoin.  I believe he's a good guy.

first off, the author didn't title this thread; you did.  who's the tool?

[the founder]

first off, the author didn't title this thread; you did.  who's the tool?

Clearly you are.   Who the fuck do you think the "bitcoin elite is". When it comes to the overall rules are??   You think the author was referring to anyone else?

[herzmeister]

I met Gavin in NYC bitcoin conference .  At the time I owned flexcoin.  I believe he's a good guy.

A kingdom with a benevolent monarch is well off. But there's no guarantee the next monarch will be as benevolent as Gavin.  

But yes, I surely do hope Bitcoin will remain or improve decentralization. Would also somewhat prove wrong anti-capitalists and Marxists who insist that every system based on markets and money always ends up in hierarchy and centralization of power.

[Severian]

I think the big difference between the "bitcoin elites" and the existing financial system elites is the "bitcoin elites" are working really hard to distribute our power.

"Bitcoin elites" have created something that has actually engendered hope and motivation in many people. Being one of the older gents on this board, I can't recall the Credit Elites ever engendering hope in anyone during my lifetime.

Bitcoin elites, +1.

[cypherdoc]

first off, the author didn't title this thread; you did.  who's the tool?

Clearly you are.   Who the fuck do you think the "bitcoin elite is". When it comes to the overall rules are??   You think the author was referring to anyone else?

Lee said "elites" as in plural.  he wasn't referring to an individual.  you are.

plus, the author has trouble defining who the elites actually are.  in his article he references one of his own earlier articles that claimed that the "miners" were the elite in that they could collude to perform a 51% attack.  which is it?

and furthermore, you seem to agree with the premise to begin with that there is a bunch of "elites" (plural) that do control Bitcoin.  i think you are wrong.

[mai77]

"A core part of Bitcoin’s appeal is that it’s not under anyone’s control. Supposedly, nobody has the authority to change the Bitcoin money supply, cancel or reverse transactions, or otherwise change the attributes of the protocol.

But in practice that’s not really true.

In the wake of last month’s fork, the elites in the Bitcoin community effectively changed the rules in a matter of hours. In principle, there’s no reason those same elites couldn’t make other changes to the Bitcoin protocol.

There’s a direct parallel here to issues of political legitimacy in a nation state. In principle, most democratic nations have constitutions that bind the behavior of government officials. In practice, a cabal of elites can and regularly do change those rules with minimal input from the rank and file. Yet the discretion of elites is not unlimited."

source: Forbes

[notig]

I think the big difference between the "bitcoin elites" and the existing financial system elites is the "bitcoin elites" are working really hard to distribute our power.

We're getting there, but it will take time. I really hope in a year or two there will be at least three or four different bitcoin implementations all producing blocks, validating transactions, etc. And in ten years there will be a dozen or more.

That is a natural progression; I was around when NCSA Mosaic was the one web browser and the NCSA server was the only web server, and there have been a couple cycles of certain browsers / web servers becoming dominant and then fading. I expect to see a similar evolution for Bitcoin infrastructure software.

do you mean alt chains?

[mai77]

 At the time I owned flexcoin.  

what is flexcoin? premined & extinct? 

[cypherdoc]

I think the big difference between the "bitcoin elites" and the existing financial system elites is the "bitcoin elites" are working really hard to distribute our power.

We're getting there, but it will take time. I really hope in a year or two there will be at least three or four different bitcoin implementations all producing blocks, validating transactions, etc. And in ten years there will be a dozen or more.

That is a natural progression; I was around when NCSA Mosaic was the one web browser and the NCSA server was the only web server, and there have been a couple cycles of certain browsers / web servers becoming dominant and then fading. I expect to see a similar evolution for Bitcoin infrastructure software.

do you mean alt chains?

no, he means like BitcoinJ and maybe Armory.

[justusranvier]

https://bitcointalk.org/index.php?topic=168944.0

[mai77]

but, seriously: FUD or no FUD.

the question of fees is highly political. my poll indicates that the majority of users reject the current fee level.
what if s.o. had changed the fees in ver. 0.81 ? or changed it back?

the article points to a valid question.