Post
Topic
Board Bitcoin Discussion
Re: btc authority
by
RodeoX
on 26/10/2016, 16:16:13 UTC
Someone will try. They will fail. (a soft authority, "The Bitcoin Foundation" was an early attempt. It failed)
Bitcoin foundation was an attempt to provide advocacy to the cryptocurrency. Something that is still needed today.
...
I think Slark has the right term here. Advocacy not authority. No entity has any authority over BTC. No one can change the supply, distribution, usage rights. These things are coded into the protocol and could only change with overwhelming community consensus.