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    Author Topic: Analysis and list of top big blocks shills (XT #REKT ignorers)  (Read 46579 times)
    BitUsher
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    January 22, 2016, 02:42:30 PM
     #821

    What vote?

    'Economic majority' is a phantom concept.

    After a hard fork, there will be 2 competing currencies. Each one with it's longest valid chain, each one with it's group of users.

    If the biggest nodes and the biggest miners start to use only one of the competing currencies, it doesn't mean that currency will be more valuable.


    Economic majority is difficult to exactly quantify  (I.E... we don't know if the 500 k to 1 million bitcoins Satoshi controls is lost , controlled by one individuals or multiple individuals ) but is an important concept nonetheless.

    Case in point --- if all the bitcoin processors , exchanges, and banks accepted one fork over the other than the other fork instantly loses most of its utility and becomes merely speculative asset like many alts. This doesn't mean that it will necessarily be worth less than the chain with the most utility but likely it will be worth much less.

    ***There are some extreme scenarios where enough interest is within the minor chain such as them switching over to an ASIC proof PoW algo scheme with most of the talented developers backing it which may convince enough people to value the minor chain with temporarily less utility more.
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