What if a bunch of us fork the original blockchain and stop caring about the original blockchain? What stops it?
My point is eventually blockchains, if they are going to succeed, will find their success in the barrel of a gun, and at that point will be no different than any other centralized government system?
The reason I can't mint my own currency is because, ultimately, men with guns would make me stop. Few would care about my currency at first, but market forces are not enough to stop it.
Decentralized social pressure doesn't make a stable currency and it won't make a stable blockchain until there's a powerful central entity backing it. At that point, what is the point?
Forks have already happened. See the Bitcoin derivatives and Etherium vs Etherium Classic. You can read up on it if you want to know what happens. You don’t have to guess.
Reality. Reality is what the majority choose to believe it is. If youve put the effort in to convince enough people that your chain is the truest chain, congrats.
My point is eventually blockchains, if they are going to succeed, will find their success in the barrel of a gun, and at that point will be no different than any other centralized government system?
The reason I can't mint my own currency is because, ultimately, men with guns would make me stop. Few would care about my currency at first, but market forces are not enough to stop it.
Decentralized social pressure doesn't make a stable currency and it won't make a stable blockchain until there's a powerful central entity backing it. At that point, what is the point?