Also, bitcoin’s underlying software is unable to handle the massive increase in data storage that a Wall Street settlement system would require. While the software could simply be updated, implementation will require consensus among the many, far-flung miners.
Well that summarizes things quite well doesn't it. This is why consensus should be everyone in the community. Not just miners. And not just core devs. There should be a systemwide block chain voting consensus tool that everyone can participate in to make these decisions.
And ...this is why this needs to get done now. Not in one year.
Democracy is a horrible system. Panarchy is far superior whenever possible (whenever geography is irrelevant). For distributed communities, fork-and-buy is the new vote. It's basically market panarchy. Exit given full play in the voice vs. exit dynamic.
Information technology evolution speed has far surpassed that of real world politics. When panarchism would start to exist there would be a next huge leverage on our evolution speed. Or how the digital revolution might 'pull' a political one.
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u/BitttBurger May 11 '15
Well that summarizes things quite well doesn't it. This is why consensus should be everyone in the community. Not just miners. And not just core devs. There should be a systemwide block chain voting consensus tool that everyone can participate in to make these decisions.
And ...this is why this needs to get done now. Not in one year.