The old version stayed around but (essentially) nobody wanted to use it. If they had, the forked version would be worthless. That is the difference. A cryptocurrency fork cannot succeed without the consent of the community. No one is compelled to use it the way that you are compelled to accept the decisions of a regulator.
yeah this sounds like direct plutocracy - money votes, not people.
Which I guess is a cricitism of crypto in general - if it were to be adopted widely, the rich can gang up any time on the rest of us and do an 50% vote to rewrite the votes - right now the 1% owns about 30% of wealth in the US - not a stretch to see it go to 50%
If people disagree with one particular regulation, you think it’s possible to vote someone in to fix that issue in isolation? I don’t think you have thought about this very deeply, either that or you’re completely ignorant of the political environment you inhabit.
they got feared into it by fear of being left behind. Pretending that majority can always make the good choice (even for their own benefit!) is, well, just look at state of US politics.
And it's WORSE, because there is no one person one vote, the amount of money have is directly proportional to the "voting power" in crypto currency.
