[oneoff786]

> Braking the rules damages the economic utility of the chain, so the Ether on the chain where the validators colluded to break the rules would be worth less, as a result of their actions.

So you’re going to create a new fork, remove the money from the majority of the wealthy stakeholders who are governing the system, and expect this one to be be seen as legitimate? The one that is explicitly giving the finger to the wealthy?

Good luck!

[493579620678]

I don't think legitimacy is a meaningful concept in this context. I would use the chain with the greatest utility, which is determined by whether I like the rules, whether the rules are consistently and predictably enforced, and whether other people I want to interact with are using that chain. Whether the people who use the chain have more Ether or more computer power compared to the people who use a competing chain doesn't affect utility.

While I don't think it's meaningful to say that one chain is more legitimate than another, if I was forced to make such a deamination in this case, I would consider the chain where the rules are consistently and predictably enforced in a way that leads to predictable outcomes more legitimate than a chain where validators have colluded to arbitrarily subvert the enforcement of the rules.

[oneoff786]

Legitimacy doesn’t matter in the context of currency? I’m not sure the markets will agree.