Hacker News new | ask | show | jobs
by ceejayoz 1443 days ago
> With Bitcoin, no one has control!

Well, until a little over 50% of the miners decide they don't like you.

Ethereum's fork proved "no one has control" is an illusion.

3 comments

Ethereum is not Bitcoin. Ethereum just showed the world Botcoin's unique value compared to Ethereum and the thousands of crypto projects so often conflated with Bitcoin.

The 2017 Bitcoin scaling wars proved that one can't simply change Bitcoin's consensus rules by majority control of the miners. I think at one point 80% of the miners were in favor of large blocks, yet they didn't have buy-in from the rest of the network participants (developers, regular users, merchants, exchanges).

Bitcoin has really robust decentralization.

Bitcoin also famously forked into BTC and BCH. And Ethereum Classic is still ticking away printing blocks. Forks are a feature, not a bug.
Forks promise an infinite, ever-growing supply of deflationary digital scarcity.
No, not at all. Bcash isn’t Bitcoin. BSV isn’t Bitcoin. Eth classic is Ether. Existence of forks has zero impact on digital scarcity.
Stop repeating this.

The ETH fork happened before the people on HN were even following cryptocurrency happenings.

That's how early in the project a fork was done — the project would never survive another at this stage of maturity.

And everyone knows that.

So stop repeating it?

That’s silly. HN is where I heard about it. The collapse of the DAO got many, many comments. Just one of the threads: https://news.ycombinator.com/item?id=11921900
I just don't see the relevance considering the absolutely insane amount of things that have happened that would cause nobody to act in this fashion again, namely...uh...many public people are using the project publicly.

The fork stuck because it was still an alpha, as far as society was concerned.

It's currently in a grey area between a social movement and a FOSS project, and it simply started as a FOSS project.

I think it's important to characterize what occurred with this context. Devs won't get another chance at that without the project (and movement!) ending — and everyone knows it.