Post
Topic
Board Development & Technical Discussion
Re: Wondering out loud: Which should Chinese miners support - Core, Classic or another?
by
johnyj
on 30/01/2016, 18:34:35 UTC

I don't think a constitution will fly. Bitcoin is an incentives machine. If something changes it will be because the incentive structure has changed somehow.

Innit?

Of course incentives is also part of the picture. Since currently there is no such kind of code, anything can be openly discussed, you can look at Classic where they are trying to make such constitution, to decide on some basic rules that should never change

It can be very specific, for example always 21 million coin supply.  But it can also be very abstract, like to keep the miner incentive intact, for example averagely 50 bitcoins per block forever (This unavoidably will limit the block size)

The constitution is about the part that almost never changes, so that if you disagree with those rules, for example 21M bitcoin, you better leave for another coin

Another part is about the decision making, e.g. how to reach consensus in a community full of different people with different political/culture/religion ideology. There is still no good way to count user's opinion, using hash power voting is not a really good method