Decentralization is not always good imo.
It's one of the reasons why banks don't switch over to crypto. They want to be in control themselves.
You are viewing a single comment's thread from:
Decentralization is not always good imo.
It's one of the reasons why banks don't switch over to crypto. They want to be in control themselves.
oh well I say fuck them
Posted using Partiko Android
I would say the same, but governments have a monopoly on violence. So what are you going to do about it? I mean, they are not going anywhere.
Banks don't = Government
Often times they're separate entities.
They have a solid reason for it though...
So that the Government doesn't screw up it money. Countries where Gov controls Banks they're fiat pretty dead...
But those banks are than corrupt due not being part of the Gov and as such don't need to take care of people.
The banks job is to make money.
But replace the money with a Decentralized like Bitcoin and one part of the equation is gone.
Money controls the world and if you free the world into a decentralized system, the world can slowly like more decentralized gov or alteast Federation based ones.
Hence why people say if Bitcoin fails the market is dead and dream is pretty much dead. It may recover but after a long time and the energy of hard money of it gone
yep
kings and the church also once wanted to be in control :D
Everyone wants to be in control. The nature of law is survival of the fittest. Things haven't changed this is still true today. And it's not about muscle power anymore but about who has the biggest military etc.
It's like with the Palestina Israel conflict. To who does that land really belongs to? The one with the most power because he will take it.
Yes decentralization is a big handicap in many regards. But the main reason for Crypto to exist is because we need to radically change the way we form society and companies.
Tech giants are now more powerful then most governments and most of these companies are run by dictatorships. We need to completely rebuild society according to the new problems of our generation.
Crypto is the industrial revolution of the 21st century and decentralization is the key aspect of this revolution.
Bitcoin is only a very small part of the entire process.
Imo it depends. Blockchains are very useful for things where you need to have trust and security.
You could use it for example for: financial transactions, supply chain management, decentralized gambling, decentralized exchanges, insurance, ...
It's also handy for different criminal activities.
The thing is a normal database is much faster and scalable than blockchain at this moment. You can't have high speed and scalability, high security and a cheap system. You will always have to sacrifice on something.
Well we maybe found the first project that managed to get a fast and decentralized blockchain :D
Is it really that decentralized? Steem is dominated by whales ... I mean, they can decide in the end what gets flagged and what goes trending.
But that's the case with most things in life. Bitcoin is also pretty much dominated by the people that got in early.
Most of them are exchanges,lost but yes they're whales/
The holders don't control the chain nor do Miner nor do Dev nor do full nodes.
Each control part of the chain in diff ways.
It the very reason why Bitcoin took so long to upgrade.
Any scaling is done using that one upgrade segwit which is actually really amazing!
Indeed @sames. I love this convo you guys are having here :)
https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html