Bitcoin Q&A: Decentralized power, leaderless governance

Bitcoin’s market-based governance system & the five consensus constituents: developers, miners, exchanges, merchants, wallets. Bitcoin’s “election” is held every 10 minutes and determines the most valid, longest cumulative difficulty chain. Consensus choices have monetary consequences. We need to be patient and have the long-view perspective. Many innovations have been developed over the last two years while bitcoin has been in political deadlock and “failing to scale.” This is a system of hard promises that can be softened (if you choose), that resists takeover, that is leader-less. Some people love free human expression and autonomy; others look at it and think, “Oh, you mean there’s a vacancy at the top? Where do I send my application?” The things we accept and the choices we make today, as participants in this network, will make a huge difference 20 years down the line.

This is part of a talk which took place at the ‘Bitcoins in Bali’ meetup on June 27th 2017 at the Hubud co-working space in Ubud, Bali, Indonesia: https://antonopoulos.com/event/bitcoins-in-bali-meetup/

RELATED:
Money as a System-Of-Control – https://youtu.be/FyK4P7ZdOK8
Bitcoin: Where the Laws of Mathematics Prevail – https://youtu.be/HaJ1hvon0E0
The Digital Currency Commons – https://youtu.be/nYBKWrqR4I8
Forkology: A Study of Forks for Newbies – https://youtu.be/rpeceXY1QBM
Is Bitcoin a democracy? – https://youtu.be/TC3Hq76UT5g
Separation of money and state – https://youtu.be/jGmtRA9S7_Y
Unstoppable code – https://youtu.be/AQx3E3F8Kz4
The revolution in trust – https://youtu.be/iWfpxB3HZOY
Governance trade-offs in decentralized systems – https://youtu.be/dtwaW79Fj7c
Scaling, trust, and trade-offs – https://youtu.be/vCxmHwqyJWU
SegWit, scaling, and consensus – https://youtu.be/Jc7mrR6AAto
Bitmain and the ASICBoost allegations – https://youtu.be/t6jJDD2Aj8k
Biggest threat to cryptocurrencies – https://youtu.be/MNXSDaD97x0
Decentralized immunity from state-sponsored attacks – https://youtu.be/ZBuHOGufW14
Ethereum, ICOs, and Rocket Science – https://youtu.be/OWI5-AVndgk

Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and well-respected figures in bitcoin.

Follow on Twitter: @aantonop https://twitter.com/aantonop
Website: https://antonopoulos.com/

He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters.

THE INTERNET OF MONEY, v1: https://www.amazon.co.uk/Internet-Money-collection-Andreas-Antonopoulos/dp/1537000454/ref=asap_bc?ie=UTF8

MASTERING BITCOIN: https://www.amazon.co.uk/Mastering-Bitcoin-Unlocking-Digital-Cryptocurrencies/dp/1449374042

[NEW] MASTERING BITCOIN, 2nd Edition: https://www.amazon.com/Mastering-Bitcoin-Programming-Open-Blockchain/dp/1491954388

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If you want early-access to talks and a chance to participate in a monthly LIVE Q&A with Andreas, become a patron: https://www.patreon.com/aantonop

Music: “Unbounded” by Orfan (https://www.facebook.com/Orfan/)
Outro Graphics: Phneep (http://www.phneep.com/)
Outro Art: Rock Barcellos (http://www.rockincomics.com.br/)

Bitcoin Q&A: Decentralized power, leaderless governance

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Kane Dane