For a discussion about certain Ethereum holders forming a common enterprise, I'm surprised to find no mention of the DAO fork [1]. "Management" undoing the DAO was, to me, a defining delineation of Ethereum from Bitcoin.
I appreciate highlighting how centralized this blockchain is, but Bitcoin also benefits from centralized coordination. For example, in 2013, two developers and a mining pool operator successfully commandeered a fork away from the fork with majority hashpower [0]. The conclusion in the linked article is a pretty good summary of how we should look at this issue:
> In summary, we have a lot to learn from looking back at the fork. Bitcoin had a really close call, and another bug might well lead to a different outcome. Contrary to the view of the consensus protocol as fixed in stone by Satoshi, it is under active human stewardship, and the quality of that stewardship is essential to its security. [2] Centralized decision-making saved the day here, and for the most part it’s not in conflict with the decentralized nature of the network itself. The human element becomes crucial when the code fails or needs to adapt over time (e.g., the block size debate). We should accept and embrace the need for a strong leadership and governance structure instead of treating decentralization as a magic bullet.
> In summary, we have a lot to learn from looking back at the fork. Bitcoin had a really close call, and another bug might well lead to a different outcome. Contrary to the view of the consensus protocol as fixed in stone by Satoshi, it is under active human stewardship, and the quality of that stewardship is essential to its security. [2] Centralized decision-making saved the day here, and for the most part it’s not in conflict with the decentralized nature of the network itself. The human element becomes crucial when the code fails or needs to adapt over time (e.g., the block size debate). We should accept and embrace the need for a strong leadership and governance structure instead of treating decentralization as a magic bullet.
[0] https://freedom-to-tinker.com/2015/07/28/analyzing-the-2013-...