Quote from: Carlton Banks on June 29, 2016, 09:28:00 PM

Jonald, that's a reddit post from nullc. nullc is gmaxwell. Who did you think it was? (it helps to read things you endorse lol)

It's separation of powers, which is obviously good. These guys are bashing the devs but at least the devs add 1 more separation of power to bitcoin, would they really want to give all power to miners.

Here is the bitcoin powerstructure:

Bitcoin Owners = Ultimate Power, they can vote with their coins, and sell the coins as their veto, therefore the bitcoin price should be a voting indicator

Bitcoin Media = Power to influence owners, and to get ideas across to the people. If they push too much propaganda, their ad revenue will shrink and competitors take over.

Bitcoin Businesses = They hold some significant bitcoins, but they are also running a business therefore they must conform to the will of their customers or risk going out of business

Bitcoin Developers = They are the most experts on bitcoin's technical background. Have big influence on the people and can give technical advices, but they still need to be approved by miners and by the owners.

Bitcoin Miners = They have power to vote on technical changes, but they must conform to the wishes of the bitcoin owners, since they are very dependent on them to sustain big prices, because otherwise they go out of business.

Bitcoin Nodes = They are like the accountants of bitcoin , as they verify the integrity of the blockchain, and maintain the technical stability, they are rarely affected by the other 5, and mostly act as observers on these issues.

There are the 6 powers in bitcoin, and we need all of them. Centralization is not an option.