What decentralization means, and why it matters - Part 1

in #bitcoin7 years ago

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You need to ask the right questions, before investing your own money in anything where long-term survivability matters :

  • Is there a person in charge?
  • Are there any headquarters?
  • If you remove the head, will it survive?
  • Is there a division of responsibilities?
  • If one unit is out, the organization harmed?
  • Power and knowledge is distributed or concentrated?
  • Flexible or rigid organization structure?
  • Can the employees or participants get counted?
  • The working groups are founded by the organization or are they self-founded?
  • Working groups are communicating directly or through a bottom-up structure?

Why the Spanish Army never destroyed the Mapuches? The highly centralized Spanish Army could not destroy the highly decentralized Mapuches and Apaches, but they could destroy the centralized Inca Empire and other centralized tribes. Tribute to Lautaro, Caupolican, Colocolo, Galvarino! The Chilean government is still unable to get them under control.
Opensourced file-sharing and communication tools why beated the centralized Record Labels and telecommunication companies, like skype, torrent clients and wikipedia? Or why anonim alcoholics are so successful? Or maybe steemit in the long term compared to facebook and youtube?

Do your own research before investing in any shitcoins, scamcoins, ponzi schemes..... there is only one coin where these question provide the correct answers - the real one, called BTC. Part two tomorrow.

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Bitcoin goes to the Moon! "An Irish never loses a bet", so John McAfee prediction that 1 BTC will be 1 million USD till 2022 will become reality I am 100% sure!

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Long live Mr. McAfee!

Good post!
Seems like you're mostly focused on organization/team.
I recommend to also ask critical question regarding the technology and currency, although it can be harder to understand.

Will follow as you're one of the few guys here who takes a fundamental/functional perspective instead of focusing on price action, trends and hype. Please check out my content as well, just started today! :)

Nice to meet you! Read and followed your content, seems professional! Thanks!

Thanks! It means a lot. I'm looking forward to part 2.

Really good explanation and comparisons, can't wait to see part two show up in my feed tomorrow.

wow i love the post this is so good

Hi @jomeszaros and Everyone,

Our team, @EOS9CAT came with a very short explanation and hope it would be helpful for everyone here.

Distributed means not all the processing of the transactions are done in the same place. This does not mean that those distributed processors aren't under the control of a single entity. (Think of gas stations, there are Shell stations all over yet all are Shell)

Decentralized means that not one single entity has control over all the processing. By nature, this implies that it is distributed among various parties.

eos9cat - vote for us.png

If you need any other questions, please feel free to send us an email at [email protected] or visit our website

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