Bitcoin Forum
December 16, 2017, 08:13:19 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Decentralization and Democracy! Are cryptocurrencies really decentralized?  (Read 463 times)
cuddaloreappu
Hero Member
*****
Offline Offline

Activity: 644


View Profile
May 29, 2014, 10:13:22 AM
 #1

Are cryptocurrencies really decentralized?

Yes, from a technological point of view.

But some important  decisions in certain cryptocurrencies seems to be always taken in a centralized fashion, the coin has a large community but when it comes to taking important decisions like changing the way a coin is mined or weather to have inflation or deflation, what the founders and a few decide ultimately stays with no option for the community to effectively express their opinion.


So are cryptos centralized when it comes to important decisions?

I think of a future where even the founders have no control or say over the cryptocurrency they created and ultimately the community decides what is best for the coin and economy..

What does it take for true decentralization and democracy...

A true coin of the community, by the community, for the community
1513411999
Hero Member
*
Offline Offline

Posts: 1513411999

View Profile Personal Message (Offline)

Ignore
1513411999
Reply with quote  #2

1513411999
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1513411999
Hero Member
*
Offline Offline

Posts: 1513411999

View Profile Personal Message (Offline)

Ignore
1513411999
Reply with quote  #2

1513411999
Report to moderator
1513411999
Hero Member
*
Offline Offline

Posts: 1513411999

View Profile Personal Message (Offline)

Ignore
1513411999
Reply with quote  #2

1513411999
Report to moderator
Snail2
Legendary
*
Offline Offline

Activity: 1302



View Profile
May 29, 2014, 10:56:50 AM
 #2

When we are talking about my money, forget about democracy Smiley. In addition when we are talking about coin development (coding and marketing included) some level of centralization is inevitable. Otherwise everybody will talk endlessly and nobody will do anything.
Relnarien
Sr. Member
****
Offline Offline

Activity: 400


View Profile
May 29, 2014, 01:04:39 PM
 #3

The development of the Bitcoin protocol is meritocratic rather than democratic. And I believe it is rightly so. Everyday, someone goes "add PoS to Bitcoin so I can have some by opening my wallet with 100 satoshis in it," "make Bitcoin merge mineable with all the altcoins," "increase the coins generated so we can all get coins without affecting its price," and "let's pump the price of Bitcoin to 1 million so we can all be millionaires because that's how it works." Very few people understand both the technological and economic principles which Bitcoin is based on. If its development was made democratic, we would be generating 1 to 1 million coins per block with PoS, random superblocks and every little thing that the masses feel like adding. It would be a joke, really. I would rather have people who know what they're doing make the crucial decisions than people who go "doge shibe." Anyone who wants to contribute to the development simply has to educate himself/herself more. That's a very reasonable requirement, is it not?
cuddaloreappu
Hero Member
*****
Offline Offline

Activity: 644


View Profile
May 29, 2014, 02:22:19 PM
 #4

The development of the Bitcoin protocol is meritocratic rather than democratic. And I believe it is rightly so. Everyday, someone goes "add PoS to Bitcoin so I can have some by opening my wallet with 100 satoshis in it," "make Bitcoin merge mineable with all the altcoins," "increase the coins generated so we can all get coins without affecting its price," and "let's pump the price of Bitcoin to 1 million so we can all be millionaires because that's how it works." Very few people understand both the technological and economic principles which Bitcoin is based on. If its development was made democratic, we would be generating 1 to 1 million coins per block with PoS, random superblocks and every little thing that the masses feel like adding. It would be a joke, really. I would rather have people who know what they're doing make the crucial decisions than people who go "doge shibe." Anyone who wants to contribute to the development simply has to educate himself/herself more. That's a very reasonable requirement, is it not?

That is a very nice explanation.Democracy really has this problem.
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!