Bitcoin: is the mining broken? - (centralization, China, etc.)

InfosLink shares the article from Warrows, developer for PIVX cryptocurrency, who asks us about the mining of Bitcoin. In summary

1. blasting
   1. Centralization of equipment manufacturing
   2. Power to the people
   3. Government risk
2. The energy cost
3. The war of ideas
   1. Blocks
   2. The power of minors

Every day, dozens of articles try to explain to us that Bitcoin is finished, broken, finished! I'll go over the charges of "currency for drug addicts and terrorists" by referring you to my first article on the subject. Then I will answer simply hyper the accusation that emerged in recent days: the blockchain contain pedophile images. (We will talk mining and politics, do not worry).

Already, nothing new, contrary to what we want you to believe, these accusations were already released five years ago . Then it's technically wrong. The bitchain blockchain does not allow to store images.

And for good reason, the space available to users to write what they want is too small for that. What we can find are links to objectionable content. And that's something else. If I tag the address of a porn site on a wall, and this site contains child pornography, it is the owner of the site who will be worried, certainly not the owner of the wall. I would certainly, but rather for the degradation of the wall than anything else.

The other thing with these daily articles is that they talk about the price, as if it was Leclerc's action. And they speak especially bad, except when we reach records . Whenever it goes down, you'll know it. On the other hand, you will know that it goes up only if the record of value is largely beaten. In any case, as far as I'm concerned, I do not care. We are not here to make money, but to overthrow governments, muhahaha! The price varies, it's normal. But when bitcoin is worth 6 or 7 times more than a year ago, it is dishonest to say that it has lost 66% of its value since December. While it was obvious at that time that growth was too fast to be sustainable. And the $ 20,000 price lasted only a few hours.

Mining

Okay, let's get to the point, today I'm going to talk to you about the real problem of bitcoin, things that I do not like . In the last articleI explained to you the principle of mining. We can see that this solves serious problems. But it also raises others. I suggest this article if you are fluent in English. For others, I will try to be clear.

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Posted from my blog with SteemPress : https://infos.link/bitcoin-is-the-mining-broken-centralization-china-etc/

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