Post
Topic
Board Altcoin Discussion
Re: Monero XMR ... Why do people fall for the shills and bullshit?
by
drawingthesun
on 23/08/2014, 01:49:59 UTC
So my point that hardfork is a bad case for currency, especcialy for widespread currency.

This is actually a good area to discuss.

My personal view is that crypto coins are a social contract between the develelopers and the users. The main branch of the coin (that has the brand) is the initial social contract (expectations) between the developers and the users.

If the users do not like something, they can then split and follow a new brand.

Example. Monero team in one year changes x in the code and hardfork happens. This is ok in my view because by using monero I agree to use this coin that is being developed by these developers. Of course there is a level of trust, if too many people disagree with the change then the coin will most likely be destroyed.

Let's not be naive. If the social contract with Monero was "the coin will never have any major changes even though competitors will most likely emerge" then I would not invest, and this is one of the reasons I wanted to move some money out of Bitcoin, because they are not reacting to the world at becoming complacent.

These currencies are not 100% trust less. You need to trust the market, the miners and the developers.