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by maxmax
3813 days ago
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"This means that that if bitcoin, or other related technologies like the block chain are going to be adopted by companies to run real businesses on then either the companies themselves will own the technology roadmap or some other entity with a fair bit of credibility will have to step in." Like banks and the Fed? |
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The major innovation here is that the miners have the option to vote with their feet by either accepting or rejecting new monetary policy from the developers. Banks can't just dump all of their USD and US bonds if the Fed makes a decision they don't agree with. So there's a different power dynamic built into the network.