Obviously the idea is that miners decide democratically and miners being 'unionized' into 4 pools having 80% of hash rate can indeed decide on a way forward but still it has a nasty after taste.People through politics and centralization can structurally skim money from a cryptocurrency in a way that wasn't foreseen in the whitepaper seems a bad development.BTC apparently is less centralized than BCH but isn't the mere fact that hoolahoops like these are possible bad for BTC as well ?Nobody can look into the future, what if BTC ends up with 4 pools holding 80% of hash and they decide to take 50% for 'development and marketing costs' ?You need to trust this won't happen, but wasn't trustlesness the whole point to start with ?
Submitted January 23, 2020 at 02:35PM
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