Earlier quoted context omitted.
I think the point I was trying to convey is best expressed in the paragraph and not the isolated sentence: >My understanding is that most cryptocurrencies intend to be extremely democratic. More democratic than all previously existing currencies, even. (Whether those ideas are feasible or those goals are being achieved is another matter.) I also discussed it a bit in my other reply: https://news.ycombinator.com/item?…
Skimming that long comment, I still don't see any evidence for your claim. My best guess is you mean a different word than "democratic".
In terms of network consensus, democracy indeed isn't universal in terms of network users, since in PoW the huge mining pools have disproportionate votes, and in PoS the huge staking pools and whales have disproportionate votes. However, the "voting" in this case is just "which blockchain is the valid one". Unless a group of powerful entities collude to 51% attack the network, this doesn't actually confer any direct influence over anything. (Though for PoW, miners do have some influence over what transaction fees people will have to pay.)
In terms of systems built on top of the core network - especially if smart contracts are supported - you can create lots of interesting democratic governance systems. You can basically make whatever you want.
So, is network consensus democratic? Not really. Then it's kind of a question of if it's more or less democratic than, say, money in the United States.
One could make an argument it's way more democratic, since two single organizations control money issuance: the central bank and the treasury. (One partial counter-argument is that the Federal Reserve is - as the name implies - federated regionally through 12 sub-organizations. One could potentially say that it still effectively operates as one entity, though.)
Or that it's way less democratic, since at least everyone in the country can vote for the president, and the president appoints the central bank governors and the treasury secretary.
>Skimming that long comment, I still don't see any evidence for your claim.
The claim:
>My understanding is that most cryptocurrencies intend to be extremely democratic. More democratic than all previously existing currencies, even. (Whether those ideas are feasible or those goals are being achieved is another matter.)
My only claim is that they intend to be democratic. At least Bitcoin did. I don't think that's too hard to support; Satoshi initially intended for everyone to be able to mine. I think he had a pretty democratic vision.
The implied emphasis in that paragraph was on "Whether those ideas are feasible or those goals are being achieved is another matter."