“Binding precedents are set by courts, for the legal system. Actions of a private entity don’t bind that entity for the indefinite future.”
This was my point in my first post here on medium written on June 21 before I changed my position on the whole matter. I said,
“First of all, by recovering $60,000,000 of innocent investors funds with a hard fork, you are not setting any precedent that can be enforced unless…you are planning to have a judicial system similar to our current centralized system of government enforce rules regarding decentralized, immutable blockchains, in which case, the system would still be centralized anyway.”
But what happens if our current systems break down, as they seem to be doing, and we are left in a world where there is nothing but decentralization. What standard can we hold to in that world, a world where we depend on blockchains to run our governing, social, communication, financial, etc. systems? As humans in these times, we have proven that we are no longer capable of effectively, honestly, and objectively governing ourselves. Now we are at the very beginning glimpses of a decentralized world, and (for me, anyway) it’s very exciting. Should we already start to manipulate, adjust, cheat that promise of an objective future by forking it? Are we doomed to hierarchies and centralized systems no matter what? Must we live in an Orwellian dystopia or repeat the rise and fall of the Roman empire over and over again? If we need only to maintain ONE standard to bring about an objective future, to make forking the chain to manipulate any transaction on it….forbidden, then what happens when we trespass on that? What path is left to an objective future?