Post
Topic
Board Bitcoin Discussion
Re: Is the Bitcoin community a DAO?
by
Wind_FURY
on 08/08/2021, 10:06:56 UTC
Upgrades for Bitcoin need to get consensus from miners on the network. The last vote for Taproot to lock in is an example: https://taproot.watch/
Miners have to signal their support and help to lock in Taproot. It is a decentralized consensus but satoshi does not call it as DAO.

Locked In: Bitcoin’s Taproot Upgrade Gets Its 90% Mandate

Quote
According to the parameters set forward by “Speedy Trial,” if at least 90% of the blocks mined in any of the designated two-week difficulty periods “signal” their support for the upgrade, then the activation process can begin. To be more precise: 1,815 out of 2,016 blocks mined within a period have to include a little piece of encoded information that indicates that the miners who mined those blocks are in favor of the upgrade.


I believe that it doesn’t matter what Satoshi calls it, or what he might not call it. Personally, and I believe I’m not alone, I would be OK if someone considered that Bitcoin “could be” the earliest example of a DAO.