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RE: Could Crypto ideas go mainstream? (Part 2 – Politics)
One big feature of crypto technology is that it is democratised.
Looking at bitcoin core through all 2-year blocksize drama I see desicion making by self-appointed oligarchy calling themselves "consensus". And the crowd blindly following this illusion of authority. Not much of a democracy.
I agree that Bitcoin has some big issues when it comes to governance. The mining is very centralised already and really has the bulk of the voting power concentrated in the hands of about a dozen groups. Bitcoin Core technically has no power at all, but a lot of users support (follow) them and so the mining groups have been wary of creating too much division.
But we will see what happens when the SegWit2x fork is due to happen in November. I suspect the Bitcoin Core will be discovered to be the emperor with no clothes in the end as it is the miners will hold the real power.
I forecast segwit2 fork would be close to non-event.
Because it is clearly not the thing market seeks right now.