6 ms·
I've always wondered why bitcoin maximalist would want to live in a world run by the person who owns the most bitcoin.
by 7ero 3y ago
I've always wondered why bitcoin maximalist would want to live in a world run by the person who owns the most bitcoin.
- seydor 3y agoBecause if that happened the people would convert their wealth to other tokens, leaving the rich man with nothing
- endisneigh 3y agowhy wouldn't the rich man also convert their wealth?
- seydor 3y agowouldnt that devalue it?
- throwaway128128 3y agoBecause everyone is sloshing to altcoins that will eventually drop to zero
- rlpb 3y agoThat's not how Bitcoin works, and the article doesn't make any claim to the contrary. Neither Bitcoin owners nor Bitcoin miners control the rules of the network. If they were to unilaterally change the rules, their (now forked) Bitcoin wouldn't be accepted by sellers any more than I can use Monopoly money to buy a meal at McDonalds. Contrast with Ethereum, which with its Proof of Stake switch does give some level of control to Ethereum holders.
- jrm4 3y agoThis is technically true, but I feel like ends up actually meaning something very different from what people take from it. Which is to say, I see more reason to trust Ethereum to "work right, as stated" precisely because it's just federated enough?
- keep_reading 3y ago[flagged]
- RunSet 3y agoSupposing the alternative is a world run by the Federal Reserve, I suggest you audit each one carefully and make your choice.
- anonporridge 3y agoYou make a habit of wasting your life beating on strawmen?
- swfsql 3y agoIt's not ran by others. They can't throw inflation at you as they can't print more units, differently from the status quo.