Democracy is dictatorship by the majority.
Bitcoin is a Democracy by definition. or maybe more of a "Democracy with exile"
what is bitcoin?
Nodes express their acceptance of a new block by mining on top of it and the longest chain composed of valid transactions is Bitcoin.
there you go the bitcoin = whatever the majority of hashing power believes is bitcoin.
What a twisted idea.
So if "the majority of hashing power", say, 55%, starts mining Kanyecoin rather than Bitcoin than it becomes Bitcoin?
says satoshi
it really has to be a fork of bitcoin with the majority of hashing power
No.
Bitcoin is defined by the consensus rules defined in the software the nodes run. Not what some miners decides to mine...
i'm telling you what the "consensus rules" are,
Nodes express their acceptance of a new block by mining on top of it and the longest chain composed of valid transactions is Bitcoin.
this is from the white paper. and it wouldn't make any sense any other way.