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by xorcist
3100 days ago
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That is a point that can not be overstated. You own your Bitcoins in the full meaning of the word. You fully control them, by way of your private key, but you also trust that the rules of Bitcoin won't change. The former ownership is technical but the latter is social. There is an implicit social contract towards anyone who buys Bitcoin to be able to spend them any time in the future, under the same rules as today. That includes not having to upgrade to another ruleset with arbitrary changes. For this reason it was important that the block size increase was made opt-in, and that any hard forking fundamental changes that are required in the future are trivial or have pretty much unanimous support. |
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