Bitcoin Q&A: Decentralized Power, Leaderless Governance Video

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.

Chapters
0:00 My understanding of the scaling debate is that it's been locked up for three years. A big part of it is a political deadlock. Bitcoin has those checks and balances within its network, and what we've seen is centralization of mining and mining equipment manufacture. We have this issue where one player wants to block something, like SegWit, because of their own motives. So my question is, do you see this need for an on-chain governance system, similar to maybe Decred or Tezos, to break these deadlocks? Do you see centralization interest within
the network as being a danger point?
1:57 People can threaten, pretend, bluff and say they will go against consensus, but we know how consensus works
2:34 What has Bitcoin done for three years while it has "failed" to scale?
3:54 A leaderless system
5:02 Governance in systems like this is tricky
6:18 We just have to be patient and have the long-view perspective
7:22 People you know transform overnight into people you don't even recognize

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/

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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

Subscribe to the channel to learn more about Bitcoin & open blockchains!

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/)
Join the aantonop Channel: https://aantonop.io/joinaantonopyt

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