Bitcoin Forum
April 25, 2024, 08:09:23 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 2 [3]  All
  Print  
Author Topic: bitcoin foundation is a very bad idea  (Read 2858 times)
Lauda
Legendary
*
Offline Offline

Activity: 2674
Merit: 2965


Terminated.


View Profile WWW
February 22, 2015, 07:28:01 PM
 #41

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?

"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"
😼 Bitcoin Core (onion)
1714032563
Hero Member
*
Offline Offline

Posts: 1714032563

View Profile Personal Message (Offline)

Ignore
1714032563
Reply with quote  #2

1714032563
Report to moderator
1714032563
Hero Member
*
Offline Offline

Posts: 1714032563

View Profile Personal Message (Offline)

Ignore
1714032563
Reply with quote  #2

1714032563
Report to moderator
1714032563
Hero Member
*
Offline Offline

Posts: 1714032563

View Profile Personal Message (Offline)

Ignore
1714032563
Reply with quote  #2

1714032563
Report to moderator
There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
Lethn
Legendary
*
Offline Offline

Activity: 1540
Merit: 1000



View Profile WWW
February 22, 2015, 07:33:27 PM
 #42

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
coinpr0n
Hero Member
*****
Offline Offline

Activity: 910
Merit: 1000



View Profile
February 24, 2015, 12:18:01 PM
 #43

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.

Pages: « 1 2 [3]  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!