On Tue, Aug 25, 2015 at 04:26:23PM -0400, Matt Whitlock wrote: > On Tuesday, 25 August 2015, at 1:16 pm, Peter Todd via bitcoin-dev wrote: > > What would you think of an approach like John Dillon's proposal to > > explicitly give the economic majority of coin holders a vote for the max > > blocksize? Miners could still vote BIP100 style for what max they were > > willing to use, limited in turn by the vote of the economic majority. > > What fraction of coin holders do you suppose will vote? And, of those, what > fraction have the technical knowledge to make an informed vote? It would be > like polling Toyota truck owners to see whether the 2017 Tacoma should > increase its engine's cylinder displacement by 10%. Ordinary users just > aren't going to be able to vote meaningfully, and most won't respond to the > poll at all.
Note that you can make the % of voters required adapt dyanmically to voter interest. Also, your example is rather misleading, as car buyers *do* make those kinds of decisions though various market mechanisms. Equally, you can make the same criticism of democracy in general. An interesting idea would be to design a voting mechanism such that only users with access to validating nodes be able to vote - a fundemental requirement for users to fully participate in Bitcoin's goverance. -- 'peter'[:-1]@petertodd.org 00000000000000000ba8add4a8edc1b0467e9e377da016834d2abff3fc8ce1fb
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