Post
Topic
Board Bitcoin Discussion
When the majority decides to change the rules
by
jon_smark
on 21/03/2011, 16:18:48 UTC
Hi,

Let's be optimistic and suppose that Bitcoin does take off in a big way and goes mainstream to the point of becoming a significant actor in the world economy.  In this scenario, the early adopters -- those of you who populate this forum today -- will necessarily become a minority.

Since in Bitcoin the policy is dictated by the majority of nodes (weighted against hash/sec), how would you guys react if a future majority were to decide that the current policy needed tweaking?  I am thinking in particular of the policy that the total number of bitcoins is capped at 21 million.  It could very well happen that the majority comes to the conclusion that the builtin cap is having nefarious effects and decides to upgrade the software such that Bitcoin will switch to a controlled inflation system (say 2%/year).  How many of you would "fork" in such a scenario?

On a related note, it seems that many of you see the builtin cap as good thing.  What evidence would be required to change your mind about this?

Jon.