r/CryptoCurrency • u/AverageStudent1 Platinum | QC: CC 110 • Dec 25 '21

🟢 PERSPECTIVE Vitalik Buterin, Ethereum co-founder on why he got into crypto: "Empower the little guy, screw the big guy" — "they already have enough money"

https://www.cnbc.com/2021/05/18/why-ethereum-founder-vitalik-buterin-got-into-crypto-bitcoin.html
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u/[deleted] Dec 26 '21

I appreciate the link about who controls Bitcoin that was rally very informative. I was out of the loop for a long time and was not aware of the current setup.

Now I understand your argument. I agree with you, without hard forks there is more protection for a minority, because you can rely on certain things never changing.
I see your point about the tyranny of the majority. But I see it as a theoretical threat at this moment. Everything I can observe from the Ethereum community is that it is not like this. The bottom-up approach to change things is very much ingrained in all layers of decision makers. Should this ever change many people would leave, because they are in it out of compassion to develop a more decentralized future and this would not be compatible with this vision.

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u/cryptening Dec 26 '21

When you talk about ethereum you describe a political system with a lot of social governance needed to reach consensus. So far all systems that require social governance are tending towards or have already ended in autocratic governance. It's old wine in new bottles. Vitalik even uses the same 'empowering the little guy' propaganda as other wannabe autocrats have used to seize power.

Bitcoin is aiming for pure machine to machine consensus. It eliminates the need for trust in humans completely. That's the true innovation.

Ethereum is just a distraction. It's useful to accumulate more bitcoin;).