- Developers
- Miners
- Exchanges
- Merchant Processing
- Wallets
Andreas Antonopoulos
Source
Where do end users fit in?
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2 sats \ 2 replies \ @timechain 14 May 2022
To be fair, this was pre UASF
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2 sats \ 1 reply \ @random_ OP 15 May 2022
Okay, that clears it up. It was an old video. Thanks.
PS Nice handle.
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0 sats \ 0 replies \ @timechain 15 May 2022
I mean, I'm disapointed that he didn't realize that it's the users with nodes that truly hold the power. But i guess it wasn't truly proven until the UASF. Goes to show ya how much of a YOLO move the UASF was.
Anyway thx! (timechain, not blockchain.)
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1 sat \ 0 replies \ @AncapHodl 14 May 2022
As is already been discussed in the other comment chain, this is completely incorrect. Only the nodes need to agree on which chain to follow, everyone who isn't running a node is just going along with whichever set of nodes they like.
As for "Where do end users fit in?", I suppose they're broadly one and the same as wallets? Obviously users can and do have multiple wallets but broadly speaking they are the same.
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0 sats \ 8 replies \ @DarthCoin 14 May 2022
You are wrong, those (exchanges, merchants processing, wallets) are not having any word in decision. End users also have no word.
Also Andreas didn't said about those. Watch again, don't spread false info.
Only node runners, devs, miners have main final decision (also depends which form or consensus is taken).
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0 sats \ 0 replies \ @cryptocoin 15 May 2022
It's nuanced.
Once Mt. Gox confirmed, back on March 11, 2013, that they were not exposed to the chain from miners running v0.8, then at that point Eleuthria of BTCGuild (pool) switched their pool from running v0.8 to using pre-v0.8, which resulted in a chain reorg that cost BTCGuild six blocks they had mined.
If Mt. Gox had been using v0.8, that very well could have persuaded BTCGuild to stay on v0.8 and the pre-v0.8 would likely have eventually stopped.
https://buildingbitcoin.org/bitcoin-dev/log-2013-03-12.html
Fortunately the ecosystem is now way more decentralized than in 2013 when Mt. Gox had a majority of exchange activity (i.e., dominant economic node) and BTCGuild (pool) had a near majority of hashrate. But exchanges run economic nodes, and as long as users keep their bitcoin on centralized exchanges, those exchanges can have influence on decisions.
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0 sats \ 0 replies \ @cryptocoin 15 May 2022
It's nuanced.
Once Mt. Gox confirmed they were not exposed to the chain from miners running v0.8, Eleuthria of BTCGuild (pool) switched their pool from running v0.8 to using pre-v0.8, which resulted in a chain reorg that cost them six blocks they had mined.
If Mt. Gox had been using v0.8, that very well could have persuaded BTCGuild to stay on v0.8 and the pre-v0.8 would likely have eventually stopped.
https://buildingbitcoin.org/bitcoin-dev/log-2013-03-12.html
Fortunately the ecosystem is now way more decentralized than in 2013 when Mt. Gox had a majority of exchange activity (i.e., dominant economic node) and BTCGuild (pool) had a near majority of hashrate. But exchanges run economic nodes, and as long as users keep their bitcoin on centralized exchanges, those exchanges can have influence on decisions.
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0 sats \ 5 replies \ @random_ OP 14 May 2022
"There are 5 concensus communities in bitcoin. There's developers. There's miners. There's exchanges. There's merchant processing and there's wallets."
That's the quote....
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0 sats \ 4 replies \ @DarthCoin 14 May 2022
Watch again, he even put an image.
Are not those.
Exchanges have no fucking word.
Merchant processing? WTF is that?
Wallets? No way, they adapt to what devs release.
Man, you can't use your brain for 30 seconds?
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0 sats \ 3 replies \ @random_ OP 14 May 2022
So much energy wasted just now.
It's a direct quote from a video. Take it up with Andreas.
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0 sats \ 2 replies \ @DarthCoin 14 May 2022
- He didn't say such nonsense (even that he's a shitcoiner)
- Don't repeat like a parrot, even if somebody will say such nonsense, filter with your own brain.
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0 sats \ 0 replies \ @AncapHodl 14 May 2022
If I can just interject for a moment. Andreas did say that, it's in the first few seconds of the video. Yes I know it's incorrect for several reasons, some of which you already outlined. Yes, our friend here probably should not have stated it as fact without doing a little more research on the subject, but let's just dial it back a notch and educate a Bitcoiner before resorting to anything else.
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0 sats \ 0 replies \ @random_ OP 14 May 2022
psst... I'm not Andreas.
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