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RE: Is Bitcoin really decentralized, or are we being led like lambs to the slaughter?
Let's start thinking not in Bitcoin but #beyondbitcoin from now on
BITSHARES could be a great alternative in all aspects, specially as Decentralized currency and also because its real usability.
Good post
Thanks for resteeming this. I wouldn't have seen it otherwise.
It is only up to us to maintain the good quality at the platform dude...
Cheers
I in many ways can see BTC as but the first evolution in something greater to come. The simple fact of the matter is that it is not 100 percent sustainable. A better technology will have to come out that is both faster and consumes less energy. Perhaps BTC in whatever from it become dominant (Cash, Gold, 2x) should relegate itself to a store of value and relinquish the idea of becoming an accepted everyday payment medium. Bitcoin has brand recognition right now which will only get you so far once other aspects of the commodity begin to fail; costs, speed, reliability, stability etc.
Did you check Bitshares?
I have a tab open to look at it, but have not had a chance to do any research into the topic yet. I typically do research in the evenings, when I am not actively trading.
You're gonna like it. A lot.
My opinion - the IOTA crypto architecture can and will prevent "attacks" such as the one you mention in the article. IOTA is fee less - proof of work is done by each user in a distributed computing model. IOTA is inherently scale-able - the more users making transactions, the higher the network throughput. This is due to the fact that for every transaction a users posts they have to do proof of work on two transactions. This makes IOTA's network transaction rate exponentially scale-able. This also makes it improbable that any single entity or group could control network hash throughput.
IOTA is fundamentally different. It is not conventional block chain. It uses the "tangle" data structure which is not the same as a "block chain" ledger data structure. This is why it can achieve fundamentally different results.