Post
Topic
Board Bitcoin Discussion
Re: Bitcoin XT - Officially #REKT (also goes for BIP101 fraud)
by
VeritasSapere
on 29/10/2015, 21:43:08 UTC
bitcoin is not a democracy.

it's a consensus (defined by a 90-95% global threshold)

else status quo.
Bitcoin is a form of democracy, it has it build right into the algorithm, Bitcoin will reflect the will of the economic majority.

It only requires 51% of the mining power to fork Bitcoin so repeating that it is a consensus only defined by 90-95% is meaningless. You are also ignoring the reality that consensus is often impossible among large groups of people.