MIT Panel: Democracy Is Antithetical to What Bitcoin Represents

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Day one of final month’s MIT Bitcoin Expo featured a row contention on several improvements to Bitcoin that are possibly now in a works or already deployed on a network. Participants on a row were Blockstream mathematician Andrew Poelstra , Blockstream Core Tech Engineer Mark Friedenbach , Lightning Network co-creator Joseph Poon and Bitcoin Core writer Jonas Schnelli .

During a QA apportionment of a panel, an assembly member asked a participants to share their opinions on a prior presentation, in that a World Bitcoin Network ‘s James D’Angelo posited a thought of replacing Bitcoin’s proof-of-work with inaugurated people who would be devoted with mining blocks . The row seemed generally bearish on D’Angelo’s proposal. Generally, a row disagreed with a thought of branch Bitcoin into a democratically tranquil currency.

Bitcoin Is Not a Democracy

Friedenbach was a initial to respond to a assembly member’s question, and he done a indicate of directly holding on a thought of Bitcoin as a democratically tranquil currency. He noted:

“Bitcoin is not a democracy. It was never designed to be a democracy. Democracy

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