Merriam-Webster defines “vote” as:

a : a usually formal expression of opinion or will in response to a proposed decision; especially : one given as an indication of approval or disapproval of a proposal, motion, or candidate for office

b : the total number of such expressions of opinion made known at a single time (as at an election)

c : an expression of opinion or preference that resembles a vote

d : Ballot

Note that this definition does not include anything about votes being bound to actionable outcomes as a result, only that opinion is expressed in a formal…


Provisos

This is only a speculative theory and may be incorrect in part or in whole. Cryptocurrencies are inherently volatile in nature at this stage and no future performance is certain. DO NOT INVEST ANYTHING MORE INTO CRYPTOCURRENCIES THAN YOU ARE PREPARED TO LOSE IN TOTALITY.

This paper refers specifically to “Bitcoin” simply because it is the most historical, liquid and widely used cryptocurrency currently in existence. The ideas stated here do not apply exclusively to Bitcoin, but rather to cryptocurrency as a whole. Another cryptocurrency may one day supplant Bitcoin, in which case I would expect it to act in…

Michael B. Casey

(no relation to Michael J. Casey) Bitcoin enthusiast. Data & Analytics Geek. Twitter: @theblackmarble

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