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Author Topic: bitcoin foundation is a very bad idea  (Read 2716 times)
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February 22, 2015, 07:28:01 PM

This has been discussed multiple times already I believe. It would be more useful to use the search function and read up rather than starting a new thread.
Obviously TBF has its pros and cons.

It is bad as they charge you to be in something useless. They don't do anything useful to the bitcoin world.  Bitcoin doesn't need the BF
Are you going to fund the developers?

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February 22, 2015, 07:33:27 PM

Bitcoin Foundation is riddled with shady players; I'm not ready to give up on them yet, but I honestly am not sure how they will be able to regain their reputation back. At that, I'm not sure what purpose they are trying to serve anymore. Seems more self gratuitous than anything at this point.

Cody Wilson wants to get into the Bitcoin Foundation to wreck it Tongue vote for him! Cheesy
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February 24, 2015, 12:18:01 PM

They should come up with a decentralized voting system and have people around the world freely vote on how they want bitcoin to be.

We have that already.  It's called mining.

How does mining address particular questions such as "do we want a fork or not?"

A couple of years ago, the network forked quite literally by accident when approximately half of the network was running one version of the core client while the other half was running another.  The fork was detected, and within a matter of only a couple hours, the community rallied together to fix the issue.  Miners using the "bad" version switched over to the "good" one.  Technically, pool operators were largely responsible for the fix as some pools had been running the "bad" version and quickly switched to the "good" one.  But individual miners could have opted to switch pools (or mine solo) if they didn't agree with the decision.

To directly answer your question, any coder can alter the software to come up with a new version of the core client.  After that, it simply depends on whether enough miners prefer the new version. If a majority of the network switches to the new version, the network will fork.

Interesting. Very well explained too.

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