“A limit to Bitcoin scale?” by Joshua Gans (Digitoply)
What is instructive here is that Nakamoto described Bitcoin a democratic like system with “one-CPU-one-vote” which meant that any person could participate. But if it is only robust with specialized chips, that democratic philosophy is undermined. In other words, Bitcoin is only likely to be long-lasting and robust as an institution because technology has subverted the very democratic-style principles that were core to its founding vision.
Author: Geoffrey Gimse
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