Bitcoin is more of a democracy?

[TomPluz]

I am not going to discuss here many other forms of governance but the well-applauded and what we are following and enjoying which is democracy...as any other forms of system can never be better.

Now, let's compare Bitcoin and democracy...what are the features that shine in both system?

One, in Bitcoin there is decentralization which can mean no one is really controlling anything just like what we are witnessing in the traditional financial system. In fact, I would say that Bitcoin is really more democratic than what we are enjoying right now in the banking and financial sector.

Two, Bitcoin is censor-free and no power can really stop and control it though government can command its people to not to get into it just like what we have seen in China. Here, we can be sure of real transparency and what you see is what you get.

What any other democratic Bitcoin features?


 

[Findingnemo]

Decentralization is way better than democracy though because democracy is like you pick either A or B and rarely C and not everyone has the opportunity to what they really want but with decentralization you can do as you wish by just being a little part of it, well there's not really comparison cause both are really different spaces.

About the democratic feature, I would say transparency, it will allow everyone to see all the recorded transactions from all the way to the beginning and we can also increase security of it by participating on the network such as running a node or being a miner.

[Mia Chloe]

I am not going to discuss here many other forms of governance but the well-applauded and what we are following and enjoying which is democracy...as any other forms of system can never be better.
Now, let's compare Bitcoin and democracy...what are the features that shine in both system?

I understand the concept of what you are trying to explain however decentralisation is actually the best word to make use of . Form the concept of simple democracy, the people are in control however they use a medium as a re presentative to share their views and exercise their choices. However for the case of Decentralisation there is really no representative of such to exercise their control.

Decentralisation and democracy are two different concepts and in fact are used for two different situations. This is because democracy is more of a political term and it fits less for a digital network like the bitcoin network.in decentralisation power is more like given to everyone but democracy puts power on a majority representative.

[nakmantu99]

I am not going to discuss here many other forms of governance but the well-applauded and what we are following and enjoying which is democracy...as any other forms of system can never be better.
Now, let's compare Bitcoin and democracy...what are the features that shine in both system?

I understand the concept of what you are trying to explain however decentralisation is actually the best word to make use of . Form the concept of simple democracy, the people are in control however they use a medium as a re presentative to share their views and exercise their choices. However for the case of Decentralisation there is really no representative of such to exercise their control.

Decentralisation and democracy are two different concepts and in fact are used for two different situations. This is because democracy is more of a political term and it fits less for a digital network like the bitcoin network.in decentralisation power is more like given to everyone but democracy puts power on a majority representative.

I understand the concept of what you are trying to explain however decentralisation is actually the best word to make use of . Form the concept of simple democracy, the people are in control however they use a medium as a re presentative to share their views and exercise their choices. However for the case of Decentralisation there is really no representative of such to exercise their control.

Decentralisation and democracy are two different concepts and in fact are used for two different situations. This is because democracy is more of a political term and it fits less for a digital network like the bitcoin network.in decentralisation power is more like given to everyone but democracy puts power on a majority representative.

[Zed0X]

Ahh maybe voting too? Major/significant changes in the network cannot just be made by anyone, BIP has to go through a process before it's implemented. The main point is that proposals should get a majority approval first which is similar to democratic election.

[_act_]

Is bitcoin more of democracy? No. Why? Because democracy deals with system of government while bitcoin is not a system of government. Bitcoin is money and asset.

But you are not wrong that bitcoin is decentralized and censorship resistant and you can use noncustodial wallet for it to have complete control of your coins.

[Captain Corporate]

Unfortunately democracy ends up in centralization. Meaning, we elect the people who will rule us, and in most cases half of the nation doesn't even want the person who gets voted into power in most nations. This means, half of the nation ruled by person they dislike and ruins their life. So that type of democracy doesn't exist in crypto, we have decentralization, meaning there is no central figure that controls out life, bitcoin is what bitcoin is, and we do not have anyone ruling it, we just use it. Decentralization of bitcoin is the main reason why we are seeing this many people join bitcoin everyday.

[bitterguy28]

What any other democratic Bitcoin features?

i would say the freedom of miners to follow or not follow a certain protocol it is as close as we are going to get to an actual voting system no central authority implements a protocol on the bitcoin blockchain without the agreement from other parties involved such as the developers and miners and additionally the whole of the community as well

we talk about protocols and how can they affect the blockchain and we reach a general consensus whether it must be or must not be integrated to our community to me this is one of many democratic principles applied to bitcoin

[yhiaali3]

Yes, there is a great similarity between Bitcoin and democracy, especially in terms of decentralization, and of course there are many other similarities.

But what I would like to add here is that Bitcoin expresses true democracy because it is completely decentralized and no one can control Bitcoin or the network and everything is done by consensus or majority, while in reality we find governments that claim to be the most democratic in the world, led by the United States, how they control and dominate directly or indirectly through banks and by imposing regulatory restrictions and KYC, AML regulations.

[Stompix]

One, in Bitcoin there is decentralization which can mean no one is really controlling anything just like what we are witnessing in the traditional financial system.

Miners could still control it, as long as anyone gains 51% of the hashrate they would be able to control every single transaction, they won't be able to reverse it or take your money but since you won't be able to move without them agreeing it's still the same.
So, the basic principle of democracy where the majority decides applies here also!

At the same time, it's worse than a democracy because, well, your vote doesn't matter in such a situation, only your hashing power, so while a few individuals hold 5% or 10% of the total votes he average Joe has zero!

[NotATether]

You're talking about Bitcoin governance?

It's split up into three groups. The developers, the users (i.e. everyone who runs a node) and the miners. And the latter two groups are so large that it is practically impossible to game the system.

Bitcoin changes can only be pushed through if all three groups agree on it. Not only if all the developers agree on the change.

[Fivestar4everMVP]

@op, sorry but I do not agree, if you think bitcoin is more of a or like democracy, then you really have not seen the Negative side of democracy, come to Nigeria and see what democracy is doing to the people.

For me, I would say that Bitcoin offers benefits far more than what democracy offers, and as such, it's inappropriate to compare or liken bitcoin to democracy.
Decentralization is far ahead of what we see as democracy today.

Democracy, even though it's suppose to give freedom to the people, have succeeded in putting a lot of people in perpetual bondage, those who are in government gather alot of money and use it to oppress the poor, this is something that can never be possible with Decentralization, and I hope with this point, you can see truly why bitcoin is way better than democracy and shouldn't be compared, democracy is not what many of us think it is.

[ABCbits]

What any other democratic Bitcoin features?

I think it's more interesting to talk about features or weakness which usually not considered as democracy. For example, miner/mining pool could choose to exclude certain transaction on their mined block. It happens today[1], although the impact is limited to longer time to get confirmation.

[1] https://b10c.me/observations/08-missing-sanctioned-transactions/

[0t3p0t]

Well for me democracy in Bitcoin only apply to holder or investor because of the fact that he is free and has full control of his Bitcoins. Since I do not know other technicalities I will take this into something which is more of my right to hodl and right to use without any interventions from governments or whatsoever that sometimes control it's people.

[Freemind]

This thread presents a good question, but it depends on what each of us understands by democracy. Bitcoin eliminates censorship, prevents tracking (we already know that only to a certain extent and not 100% anonymously) and gives us the freedom to use our assets however we want and whenever we want. But even so, I don't think it will be useful for democracy, since the majority of the population does not know what Bitcoin is, or what it can be used for, and another part of the population does not want to know.

The idea, the concept, is perfect, but for it to be "democratic" people should have a more open mind to changes, since the progress of humanity is mainly based on that, changes and evolution.