Must Read: Bitcoin Consensus, There is no shortcut without compromising Bitcoin

By @jimmysong

  • “In Bitcoin, code is law, so the Developers are like the legislative branch. Miners execute the law (or not) through activating (or ignoring) the features developed, so they’re like the executive branch (note the veto power). Users ultimately have the power to walk away from Bitcoin at any time by selling their holdings or they can voice their enthusiasm by buying more. Users adjudicate new features through price signals. In that way Users are the judicial branch”
  • “If you’re missing any one of these groups, Bitcoin’s value proposition drops very quickly”

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View story at Medium.com

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