Post
Topic
Board Bitcoin Discussion
Re: Why the Bitcoin rules can't change (reading time ~5min)
by
tvbcof
on 28/02/2013, 01:26:00 UTC
...

So yes, I think that there is AT LEAST a key 10% of the Bitcoin user population (including me) that will veto any such changes.

I'll not 'veto' an effort to have Bitcoin evolve to a high footprint system which natively competes head-on with mainstream solutions, but I expect that it will either fail outright or eventually be perverted to the point where it is worse than nothing.  All the same, I'll hope that I am wrong and wish it well.

I expect that there will be enough like-minded stakeholders to operate a light-weight solution which focuses on security.  If so, I'll be one.  As I said on one of my few OP threads, I feel that the resources needed to light-weight chain if security and credibility outweigh a profit motive are well within the reach of what a small number of enthusiasts can muster.  A chain maintained as an insurance policy against subversion of the 'real' Bitcoin does not necessarily need to spend it's gestational phase of life in highly profitable mode and a fairly small group of maintainers is something which has less potential to be subverted.

I've always specifically expected that all of my monetary input which acquired BTC would be a total loss.  A highly speculative adventure.  No matter what happens vis-a-vis the block size, I'll be re-claiming my initial investment one of these days.  Then the remaining BTC can sit for years.  So if the blockchain forks I'll have plenty of time to see how things progress.  I could have my hand forced if one chain forces a legacy spend of course, but I'll cross that bridge when I come to it.