> What? Not really. Miners do indeed dictate the protocol rules, its is the miners agreeing to following a certain version of the consensus algorithm that makes a blockchain do what it does. So they are partly responsible for more than just mining blocks. Like I said initially it is hard to say who the actual decision makers of the chain are because it is not defined properly by eth.
Who dictates the rules is who controls the logic of the chain where the value resides. The miners can create their own fork, and Vitalik can create his own fork. I think we know where the value will go.
> Who dictates the rules is who controls the logic of the chain where the value resides. The miners can create their own fork, and Vitalik can create his own fork. I think we know where the value will go.
Vitalik only has this power because he appears to be choosing freely and the public agrees with him. If it appeared he was being forced to do something, or he did something that people didn't like, the value wouldn't follow him.
It is in this economic sense, and only this economic sense, that crypto is democratic. The only votes that matter are the dollars people trade to buy Ethereum.
Who dictates the rules is who controls the logic of the chain where the value resides. The miners can create their own fork, and Vitalik can create his own fork. I think we know where the value will go.
> Who dictates the rules is who controls the logic of the chain where the value resides. The miners can create their own fork, and Vitalik can create his own fork. I think we know where the value will go.
Vitalik only has this power because he appears to be choosing freely and the public agrees with him. If it appeared he was being forced to do something, or he did something that people didn't like, the value wouldn't follow him.
It is in this economic sense, and only this economic sense, that crypto is democratic. The only votes that matter are the dollars people trade to buy Ethereum.
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