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Comment by eric_cc | Hacker News Reader

Can you give a good example of how one of bitcoin’s “managers” changed bitcoin recently?

When bitcoin and bitcoin split. Technically bitcoin cash should be considered classic bitcoin and the commodity.

The "managers" were basically able to create a new crypto and give it the bitcoin name.

About five years ago they permanently restricted transaction volume to about 4 per second. After that I stopped paying attention because you couldn't ask for a clearer demonstration of their complete control than the fundamental destruction of the entire purpose of the project even existing.

So there's that.

so you lost the blocksize war, that doesn't mean "they" have control over the whole project

https://news.ycombinator.com/threads?id=etherael#31924953

You can always fork bitcoin and throw whatever hashing power you want at it. PoW gives you that.

You sure can, until the Bitcoin Core supporters tell people that the fork is an attack on Bitcoin, and crypto media spreads that lie.

And bitfinex backs blockstream and the rest follow because they don't want to add to the confusion and tether prints billions into existence to signal fake assent to fundamentally idiotic changes like permanently limiting chain throughput to a fax machine or so whilst censoring any venue which dares point out the abject stupidity, insanity and corruption implicit in all of the above.

But yeah, sure, whatever. Definitely don't throw Brer rabbit in that there briar patch. Stick it to the man, use the obviously captured and sabotaged trojan horse.

What could possibly go wrong? Laser eye me up.

I cannot believe how far bitcoin has fallen. Utter clown world madness.

Well that’s a disingenuous punt of a response:

You can always fork it and start your own teeny-tiny forked Bitcoin network and pretend like the Network Effect is irrelevant to liquidity, right?

Who needs liquidity?

The truth is cryptocurrencies are like anything else that is a network: The people who control how people connect to and participate in a network will effectively exert some amount of control over the network.

I’m sorry, but there is nothing magical about crypto-coin networks and blockchains.

If there’s one thing you can learn throughout history, it’s that power in networks have a tendency to consolidate and that networks have a tendency to break down and be replaced with new networks.

There is nothing inherently special about the Bitcoin network or any other crypto network that makes it immune from being controlled by either internal or external influence.

If you think there is: I’d appreciate you sharing what you believe are effective safeguards.

Reply on news.ycombinator.com