So it's different than democracy because democracy is hand wavy and doesn't require homework?
Basically, yes. At least that is part of why I think CHIPs are better than the other governance alternatives we have had before. The "hearing period" is as long as it needs to be.
Isn't that the same for democracy? People sometimes argue about laws for decades before they get passed.
The difference is that everyone is incentiviced to avoid another split and the CHIP process helps facilitate that & also define when someone should just fork off.
Sounds pretty similar to democracy. And democratic government eventually transformed gold standard into fiat currency.
Was there ever a democracy that did not
1. Have its proponents making such arguments as ChainXOR does here for why it Will Work Perfectly Forever.
2. Devolve over time anyway?
